Union Bankshares Co. (NASDAQ:UBSH) shares hit a new 52-week high and low during mid-day trading on Monday . The company traded as low as $41.23 and last traded at $41.20, with a volume of 8697 shares changing hands. The stock had previously closed at $40.60.
A number of research analysts recently issued reports on the company. ValuEngine upgraded Union Bankshares from a “hold” rating to a “buy” rating in a report on Friday, May 11th. Zacks Investment Research downgraded Union Bankshares from a “hold” rating to a “sell” rating in a report on Wednesday, March 14th. Merion Capital Group boosted their price target on Union Bankshares from $45.00 to $47.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Brean Capital restated a “hold” rating on shares of Union Bankshares in a report on Tuesday, January 23rd. Finally, BidaskClub upgraded Union Bankshares from a “hold” rating to a “buy” rating in a report on Friday, May 4th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $41.80.
The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.26. The stock has a market cap of $2.72 billion, a price-to-earnings ratio of 21.57 and a beta of 1.15.
Union Bankshares (NASDAQ:UBSH) last posted its quarterly earnings data on Tuesday, April 24th. The financial services provider reported $0.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.05. The business had revenue of $126.06 million for the quarter, compared to analysts’ expectations of $122.73 million. Union Bankshares had a return on equity of 8.35% and a net margin of 15.54%. equities analysts predict that Union Bankshares Co. will post 2.58 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 25th. Shareholders of record on Friday, May 11th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, May 10th. This represents a $0.84 annualized dividend and a yield of 2.03%. Union Bankshares’s payout ratio is 43.98%.
In other Union Bankshares news, Director G William Beale sold 32,064 shares of Union Bankshares stock in a transaction that occurred on Tuesday, March 13th. The stock was sold at an average price of $39.67, for a total transaction of $1,271,978.88. Following the sale, the director now directly owns 84,333 shares of the company’s stock, valued at approximately $3,345,490.11. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.64% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of UBSH. Schwab Charles Investment Management Inc. boosted its position in shares of Union Bankshares by 16.6% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 251,548 shares of the financial services provider’s stock worth $9,099,000 after purchasing an additional 35,825 shares in the last quarter. Canal Capital Management LLC bought a new stake in shares of Union Bankshares in the 4th quarter worth approximately $238,000. Tributary Capital Management LLC bought a new stake in shares of Union Bankshares in the 4th quarter worth approximately $15,187,000. LSV Asset Management boosted its position in shares of Union Bankshares by 3.0% in the 4th quarter. LSV Asset Management now owns 185,639 shares of the financial services provider’s stock worth $6,714,000 after purchasing an additional 5,400 shares in the last quarter. Finally, US Bancorp DE boosted its position in shares of Union Bankshares by 101.5% in the 4th quarter. US Bancorp DE now owns 4,263 shares of the financial services provider’s stock worth $154,000 after purchasing an additional 2,147 shares in the last quarter. 68.03% of the stock is currently owned by hedge funds and other institutional investors.
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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