Union Bankshares (UBSH) Rating Lowered to Hold at BidaskClub

BidaskClub lowered shares of Union Bankshares (NASDAQ:UBSH) from a buy rating to a hold rating in a research note released on Wednesday.

Several other equities research analysts have also weighed in on UBSH. Zacks Investment Research lowered Union Bankshares from a buy rating to a hold rating in a research note on Wednesday, February 14th. Brean Capital reissued a hold rating on shares of Union Bankshares in a research note on Thursday, April 5th. ValuEngine raised Union Bankshares from a hold rating to a buy rating in a research note on Friday, May 11th. Finally, Barclays started coverage on Union Bankshares in a research note on Friday, June 1st. They set an equal weight rating and a $44.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Union Bankshares has an average rating of Hold and an average price target of $43.50.

Shares of Union Bankshares opened at $40.21 on Wednesday, Marketbeat reports. Union Bankshares has a 1 year low of $30.45 and a 1 year high of $42.60. The firm has a market cap of $2.67 billion, a PE ratio of 21.05 and a beta of 1.16. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.94 and a current ratio of 0.94.

Union Bankshares (NASDAQ:UBSH) last issued its quarterly earnings results on Tuesday, April 24th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.05. The company 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%. research analysts expect that Union Bankshares will post 2.58 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 25th. Stockholders of record on Friday, May 11th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.09%. The ex-dividend date was Thursday, May 10th. Union Bankshares’s dividend payout ratio is presently 43.98%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Union Bankshares by 67.0% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,490 shares of the financial services provider’s stock worth $128,000 after buying an additional 1,400 shares during the period. US Bancorp DE boosted its position 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 worth $154,000 after buying an additional 2,147 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Union Bankshares in the first quarter worth $166,000. Virtu Financial LLC acquired a new stake in shares of Union Bankshares in the fourth quarter worth $201,000. Finally, BB&T Securities LLC acquired a new stake in shares of Union Bankshares in the fourth quarter worth $205,000. 67.93% of the stock is owned by institutional investors and hedge funds.

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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