Monarch Partners Asset Management LLC Sells 64,135 Shares of Union Bankshares Corp (UBSH)

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Monarch Partners Asset Management LLC lowered its position in Union Bankshares Corp (NASDAQ:UBSH) by 39.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,494 shares of the financial services provider’s stock after selling 64,135 shares during the quarter. Monarch Partners Asset Management LLC owned approximately 0.15% of Union Bankshares worth $3,756,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Mount Yale Investment Advisors LLC boosted its stake in shares of Union Bankshares by 471.6% during the 2nd quarter. Mount Yale Investment Advisors LLC now owns 2,715 shares of the financial services provider’s stock worth $106,000 after acquiring an additional 2,240 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of Union Bankshares by 1,092.6% during the 2nd quarter. Bank of Montreal Can now owns 2,731 shares of the financial services provider’s stock worth $106,000 after acquiring an additional 2,502 shares in the last quarter. Strs Ohio bought a new stake in shares of Union Bankshares during the 2nd quarter worth about $116,000. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Union Bankshares by 67.0% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,490 shares of the financial services provider’s stock worth $128,000 after acquiring an additional 1,400 shares in the last quarter. Finally, CIBC Private Wealth Group LLC boosted its stake in shares of Union Bankshares by 367.4% during the 2nd quarter. CIBC Private Wealth Group LLC now owns 4,987 shares of the financial services provider’s stock worth $194,000 after acquiring an additional 3,920 shares in the last quarter. Hedge funds and other institutional investors own 75.52% of the company’s stock.

In related news, Director G William Beale sold 1,000 shares of the business’s stock in a transaction dated Thursday, September 20th. The stock was sold at an average price of $40.45, for a total transaction of $40,450.00. Following the completion of the transaction, the director now owns 100,462 shares of the company’s stock, valued at approximately $4,063,687.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.64% of the stock is currently owned by insiders.

NASDAQ UBSH opened at $34.77 on Tuesday. Union Bankshares Corp has a twelve month low of $32.04 and a twelve month high of $42.74. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.27. The stock has a market cap of $2.29 billion, a P/E ratio of 18.20 and a beta of 1.23.

Union Bankshares (NASDAQ:UBSH) last posted its quarterly earnings data on Wednesday, October 17th. The financial services provider reported $0.61 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.03). Union Bankshares had a return on equity of 9.80% and a net margin of 20.38%. The business had revenue of $125.85 million for the quarter, compared to analyst estimates of $132.49 million. As a group, analysts expect that Union Bankshares Corp will post 2.75 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 23rd. Investors of record on Friday, November 9th will be given a dividend of $0.23 per share. The ex-dividend date is Thursday, November 8th. This represents a $0.92 annualized dividend and a dividend yield of 2.65%. Union Bankshares’s dividend payout ratio is presently 48.17%.

Several research firms have recently issued reports on UBSH. Zacks Investment Research upgraded Union Bankshares from a “sell” rating to a “hold” rating in a research note on Friday, August 10th. BidaskClub downgraded Union Bankshares from a “hold” rating to a “sell” rating in a research note on Friday, July 13th. Brean Capital reiterated a “hold” rating on shares of Union Bankshares in a research note on Monday, August 6th. Compass Point upgraded Union Bankshares from a “neutral” rating to a “buy” rating in a research note on Wednesday, October 17th. Finally, ValuEngine downgraded Union Bankshares from a “hold” rating to a “sell” rating in a research note on Wednesday, October 17th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $44.14.

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About Union Bankshares

Union Bankshares Corporation operates as the bank holding company for Union Bank & Trust that provides banking and related financial services to consumers and businesses. The company operates in two segments, Community Bank and Mortgage. It accepts various deposit products, including checking, savings, NOW, time deposit, and money market accounts, as well as certificates of deposit and other depository services.

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Institutional Ownership by Quarter for Union Bankshares (NASDAQ:UBSH)

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