Zacks Investment Research upgraded shares of Union Bankshares (NASDAQ:UBSH) from a sell rating to a hold rating in a report released on Wednesday, December 27th.
According to Zacks, “Union Bankshares Corporation is the holding company for Union First Market Bank. The Company operates through two segments, Community Bank and Mortgage. The Banks offer a wide range of banking and related financial services including checking, savings, certificates of deposit and other depository services, discount brokerage services, and a variety of loans. It provides credit cards, automated teller machine services, Internet banking services, and online bill payment services, as well as private banking and trust services to individuals and corporations. Union Bankshares Corporation, formerly Union First Market Bankshares Corporation, is headquartered in Richmond, Virginia. “
Several other equities research analysts have also commented on UBSH. ValuEngine upgraded Union Bankshares from a hold rating to a buy rating in a research note on Saturday, September 30th. Brean Capital reiterated a hold rating on shares of Union Bankshares in a research note on Tuesday, October 24th. Four research analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. The stock has an average rating of Buy and a consensus price target of $39.40.
Shares of Union Bankshares (UBSH) opened at $38.05 on Wednesday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $1,640.00, a price-to-earnings ratio of 21.14 and a beta of 1.28. Union Bankshares has a 12 month low of $29.50 and a 12 month high of $39.37.
Union Bankshares (NASDAQ:UBSH) last posted its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.49 EPS for the quarter, hitting the consensus estimate of $0.49. The firm had revenue of $88.73 million during the quarter, compared to analyst estimates of $91.68 million. Union Bankshares had a return on equity of 8.00% and a net margin of 23.28%. research analysts anticipate that Union Bankshares will post 1.86 earnings per share for the current fiscal year.
In other Union Bankshares news, EVP John G. Jr. Stallings purchased 1,373 shares of the business’s stock in a transaction on Thursday, December 14th. The stock was acquired at an average price of $36.22 per share, for a total transaction of $49,730.06. Following the purchase, the executive vice president now owns 9,582 shares of the company’s stock, valued at approximately $347,060.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.18% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. GSA Capital Partners LLP boosted its holdings in shares of Union Bankshares by 332.5% during the 3rd quarter. GSA Capital Partners LLP now owns 60,352 shares of the financial services provider’s stock valued at $2,130,000 after purchasing an additional 46,397 shares during the last quarter. Martin & Co. Inc. TN boosted its holdings in shares of Union Bankshares by 35.0% during the 3rd quarter. Martin & Co. Inc. TN now owns 69,246 shares of the financial services provider’s stock valued at $2,444,000 after purchasing an additional 17,941 shares during the last quarter. California Public Employees Retirement System boosted its holdings in shares of Union Bankshares by 9.6% during the 3rd quarter. California Public Employees Retirement System now owns 74,338 shares of the financial services provider’s stock valued at $2,624,000 after purchasing an additional 6,538 shares during the last quarter. Janus Henderson Group PLC bought a new position in shares of Union Bankshares during the 3rd quarter valued at about $21,259,000. Finally, Allianz Asset Management GmbH boosted its holdings in shares of Union Bankshares by 3.8% during the 3rd quarter. Allianz Asset Management GmbH now owns 63,751 shares of the financial services provider’s stock valued at $2,251,000 after purchasing an additional 2,326 shares during the last quarter. 64.54% of the stock is owned by institutional investors and hedge funds.
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About Union Bankshares
Union Bankshares Corporation is a financial holding company and bank holding company. The Company operates through two segments: a community bank segment and mortgage loan origination business segment. The Company offers financial services through its community bank subsidiary, Union Bank & Trust (the Bank) and three non-bank financial services affiliates.
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