Brokerages predict that Union Bankshares Corp (NASDAQ:UBSH) will post $0.54 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Union Bankshares’ earnings. The lowest EPS estimate is $0.53 and the highest is $0.54. Union Bankshares posted earnings of $0.44 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 22.7%. The company is scheduled to issue its next quarterly earnings report before the market opens on Tuesday, April 24th.
According to Zacks, analysts expect that Union Bankshares will report full-year earnings of $2.51 per share for the current fiscal year, with EPS estimates ranging from $2.42 to $2.55. For the next fiscal year, analysts forecast that the company will post earnings of $2.89 per share, with EPS estimates ranging from $2.72 to $3.00. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that follow Union Bankshares.
Union Bankshares (NASDAQ:UBSH) last released its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $0.52 EPS for the quarter, topping the consensus estimate of $0.51 by $0.01. Union Bankshares had a return on equity of 8.09% and a net margin of 18.15%. The business had revenue of $90.64 million during the quarter, compared to analyst estimates of $91.35 million.
Several research analysts have recently commented on UBSH shares. Brean Capital restated a “hold” rating on shares of Union Bankshares in a research report on Monday, February 5th. Zacks Investment Research upgraded Union Bankshares from a “hold” rating to a “strong-buy” rating and set a $44.00 price objective on the stock in a research note on Saturday, January 13th. Sandler O’Neill set a $39.00 price objective on Union Bankshares and gave the company a “hold” rating in a research note on Thursday, January 4th. BidaskClub cut Union Bankshares from a “hold” rating to a “sell” rating in a research note on Wednesday, January 3rd. Finally, Merion Capital Group increased their price objective on Union Bankshares from $45.00 to $47.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $41.80.
In other news, Director G William Beale sold 32,064 shares of the stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $39.67, for a total value of $1,271,978.88. Following the sale, the director now directly owns 84,333 shares in the company, valued at $3,345,490.11. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.18% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. US Bancorp DE raised its stake in shares of Union Bankshares by 101.5% in the fourth quarter. US Bancorp DE now owns 4,263 shares of the financial services provider’s stock valued at $154,000 after acquiring an additional 2,147 shares in the last quarter. Virtu Financial LLC acquired a new stake in Union Bankshares in the fourth quarter valued at $201,000. BB&T Securities LLC acquired a new stake in Union Bankshares in the fourth quarter valued at $205,000. Amalgamated Bank acquired a new stake in Union Bankshares in the fourth quarter valued at $209,000. Finally, Canal Capital Management LLC acquired a new stake in Union Bankshares in the fourth quarter valued at $238,000. Institutional investors and hedge funds own 47.49% of the company’s stock.
Shares of UBSH traded down $0.77 during midday trading on Tuesday, hitting $36.07. 278,562 shares of the stock were exchanged, compared to its average volume of 570,675. Union Bankshares has a 52-week low of $29.50 and a 52-week high of $39.80. The firm has a market cap of $2,375.03, a P/E ratio of 18.88 and a beta of 1.15. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.41.
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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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