Brokerages Anticipate Union Bankshares Corp (UBSH) Will Announce Earnings of $0.68 Per Share

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Brokerages expect that Union Bankshares Corp (NASDAQ:UBSH) will report earnings of $0.68 per share for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Union Bankshares’ earnings, with the highest EPS estimate coming in at $0.69 and the lowest estimate coming in at $0.67. Union Bankshares posted earnings per share of $0.52 in the same quarter last year, which suggests a positive year-over-year growth rate of 30.8%. The company is scheduled to report its next earnings results on Tuesday, January 22nd.

According to Zacks, analysts expect that Union Bankshares will report full year earnings of $2.75 per share for the current year, with EPS estimates ranging from $2.74 to $2.75. For the next year, analysts expect that the firm will report earnings of $2.93 per share, with EPS estimates ranging from $2.81 to $3.02. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Union Bankshares.

Union Bankshares (NASDAQ:UBSH) last posted its earnings results on Wednesday, October 17th. The financial services provider reported $0.61 EPS for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.03). Union Bankshares had a return on equity of 9.36% and a net margin of 20.38%. The firm had revenue of $125.85 million for the quarter, compared to analyst estimates of $132.49 million.

UBSH has been the topic of a number of research analyst reports. BidaskClub cut Union Bankshares from a “sell” rating to a “strong sell” rating in a research report on Wednesday, September 26th. Compass Point reiterated a “neutral” rating on shares of Union Bankshares in a research report on Monday, October 8th. Brean Capital reiterated a “hold” rating on shares of Union Bankshares in a research report on Sunday, September 30th. Finally, Zacks Investment Research upgraded Union Bankshares from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a research report on Tuesday, September 4th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $44.14.

In related news, Director G William Beale sold 1,000 shares of the business’s stock in a transaction dated Monday, August 20th. The stock was sold at an average price of $41.56, for a total value of $41,560.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.18% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Cubist Systematic Strategies LLC increased its position in Union Bankshares by 22.5% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 6,974 shares of the financial services provider’s stock valued at $271,000 after acquiring an additional 1,282 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its position 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 valued at $128,000 after acquiring an additional 1,400 shares during the period. Amalgamated Bank increased its position in Union Bankshares by 20.9% in the 2nd quarter. Amalgamated Bank now owns 8,934 shares of the financial services provider’s stock valued at $347,000 after acquiring an additional 1,546 shares during the period. Virginia Retirement Systems ET AL boosted its holdings in Union Bankshares by 7.6% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 28,151 shares of the financial services provider’s stock valued at $1,095,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Xact Kapitalforvaltning AB boosted its holdings in Union Bankshares by 21.2% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 12,016 shares of the financial services provider’s stock valued at $467,000 after purchasing an additional 2,100 shares in the last quarter. Hedge funds and other institutional investors own 75.52% of the company’s stock.

Shares of UBSH traded down $0.60 during midday trading on Friday, reaching $34.37. 255,981 shares of the stock were exchanged, compared to its average volume of 428,378. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.93 and a current ratio of 0.89. Union Bankshares has a twelve month low of $32.04 and a twelve month high of $42.74. The stock has a market capitalization of $2.30 billion, a P/E ratio of 17.99 and a beta of 1.23.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 23rd. Investors of record on Friday, November 9th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.68%. The ex-dividend date of this dividend is Thursday, November 8th. Union Bankshares’s dividend payout ratio (DPR) is presently 48.17%.

Union Bankshares Company Profile

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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