Union Bankshares Corp (NASDAQ:UBSH) has been assigned an average rating of “Hold” from the nine research firms that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, two have given a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $45.00.
A number of brokerages have recently issued reports on UBSH. BidaskClub raised shares of Union Bankshares from a “sell” rating to a “hold” rating in a research note on Thursday, August 23rd. Brean Capital reissued a “buy” rating and set a $42.00 price target on shares of Union Bankshares in a research report on Wednesday, October 17th. Zacks Investment Research raised shares of Union Bankshares from a “sell” rating to a “hold” rating in a research report on Friday, August 10th. Compass Point reissued a “neutral” rating on shares of Union Bankshares in a research report on Monday, October 8th. Finally, ValuEngine cut shares of Union Bankshares from a “hold” rating to a “sell” rating in a research report on Wednesday, October 17th.
In other Union Bankshares news, Director G William Beale sold 1,000 shares of the stock in a transaction on Thursday, September 20th. The shares were sold at an average price of $40.45, for a total transaction of $40,450.00. Following the completion of the sale, the director now owns 100,462 shares of the company’s stock, valued at approximately $4,063,687.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.64% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Mount Yale Investment Advisors LLC raised its holdings in Union Bankshares by 471.6% in the 2nd quarter. Mount Yale Investment Advisors LLC now owns 2,715 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 2,240 shares in the last quarter. Bank of Montreal Can raised its holdings in Union Bankshares by 1,092.6% in the 2nd quarter. Bank of Montreal Can now owns 2,731 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 2,502 shares in the last quarter. Strs Ohio bought a new position in Union Bankshares in the 2nd quarter worth $116,000. Ladenburg Thalmann Financial Services Inc. raised its holdings in Union Bankshares by 67.0% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,490 shares of the financial services provider’s stock worth $128,000 after purchasing an additional 1,400 shares in the last quarter. Finally, CIBC Private Wealth Group LLC raised its holdings in Union Bankshares by 367.4% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 4,987 shares of the financial services provider’s stock worth $194,000 after purchasing an additional 3,920 shares in the last quarter. Institutional investors and hedge funds own 75.52% of the company’s stock.
Shares of Union Bankshares stock traded up $0.18 during trading on Thursday, reaching $34.95. The company’s stock had a trading volume of 3,401 shares, compared to its average volume of 460,862. Union Bankshares has a 52-week low of $32.04 and a 52-week high of $42.74. The stock has a market capitalization of $2.29 billion, a price-to-earnings ratio of 18.34 and a beta of 1.23. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.93 and a current ratio of 0.93.
Union Bankshares (NASDAQ:UBSH) last announced its quarterly earnings data on Wednesday, October 17th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.03). Union Bankshares had a net margin of 20.38% and a return on equity of 9.80%. The business had revenue of $125.85 million during the quarter, compared to analysts’ expectations of $132.49 million. On average, equities research analysts forecast that Union Bankshares will post 2.75 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 23rd. Shareholders of record on Friday, November 9th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $0.92 annualized dividend and a yield of 2.63%. Union Bankshares’s payout ratio is currently 48.17%.
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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