Union Bankshares (NASDAQ:UBSH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday, January 12th. They currently have a $40.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s target price indicates a potential upside of 5.71% from the stock’s current price.
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. “
A number of other analysts have also recently issued reports on UBSH. ValuEngine raised Union Bankshares from a “hold” rating to a “buy” rating in a research note on Saturday, September 30th. Brean Capital reaffirmed a “hold” rating on shares of Union Bankshares in a research note on Tuesday, October 24th. BidaskClub cut shares of Union Bankshares from a “hold” rating to a “sell” rating in a research note on Wednesday, January 3rd. Finally, Sandler O’Neill set a $39.00 price target on shares of Union Bankshares and gave the stock a “hold” rating in a research note on Thursday, January 4th. Four analysts have rated the stock with a hold rating, two have assigned a buy rating and three have issued a strong buy rating to the stock. Union Bankshares presently has an average rating of “Buy” and a consensus target price of $41.80.
Shares of Union Bankshares (NASDAQ UBSH) traded down $0.40 during mid-day trading on Friday, hitting $37.84. The stock had a trading volume of 266,187 shares, compared to its average volume of 424,823. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.42. The company has a market cap of $2,460.00, a PE ratio of 22.66 and a beta of 1.21. Union Bankshares has a one year low of $29.50 and a one year high of $39.37.
Union Bankshares (NASDAQ:UBSH) last posted its earnings results on Tuesday, January 23rd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. Union Bankshares had a return on equity of 8.12% and a net margin of 18.15%. The business had revenue of $90.64 million during the quarter, compared to analysts’ expectations of $91.35 million. analysts anticipate that Union Bankshares will post 2.56 EPS for the current year.
In related news, EVP John G. Jr. Stallings acquired 1,373 shares of the business’s stock in a transaction dated Thursday, December 14th. The stock was bought at an average price of $36.22 per share, with a total value of $49,730.06. Following the acquisition, the executive vice president now owns 9,582 shares in the company, valued at approximately $347,060.04. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.18% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. Pettyjohn Wood & White Inc. lifted its holdings in Union Bankshares by 1.8% during the 2nd quarter. Pettyjohn Wood & White Inc. now owns 9,070 shares of the financial services provider’s stock valued at $307,000 after purchasing an additional 164 shares during the last quarter. Legal & General Group Plc lifted its holdings in Union Bankshares by 1.8% during the 2nd quarter. Legal & General Group Plc now owns 16,440 shares of the financial services provider’s stock valued at $558,000 after purchasing an additional 289 shares during the last quarter. Ameritas Investment Partners Inc. lifted its holdings in Union Bankshares by 8.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,789 shares of the financial services provider’s stock valued at $128,000 after purchasing an additional 307 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in Union Bankshares by 3.9% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 12,128 shares of the financial services provider’s stock valued at $411,000 after purchasing an additional 460 shares during the last quarter. Finally, Martin & Co. Inc. TN lifted its holdings in shares of Union Bankshares by 1.0% during the second quarter. Martin & Co. Inc. TN now owns 51,305 shares of the financial services provider’s stock worth $1,739,000 after buying an additional 490 shares in the last quarter. 64.98% 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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