Union Bankshares Corp (UBSH) Holdings Lifted by BlackRock Inc.

BlackRock Inc. boosted its holdings in shares of Union Bankshares Corp (NASDAQ:UBSH) by 22.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,582,416 shares of the financial services provider’s stock after acquiring an additional 652,010 shares during the period. BlackRock Inc. owned approximately 5.44% of Union Bankshares worth $131,511,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Bank of New York Mellon Corp lifted its holdings in Union Bankshares by 13.7% during the fourth quarter. Bank of New York Mellon Corp now owns 2,037,942 shares of the financial services provider’s stock worth $73,712,000 after acquiring an additional 245,262 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Union Bankshares by 47.8% in the fourth quarter. Wells Fargo & Company MN now owns 210,202 shares of the financial services provider’s stock valued at $7,603,000 after purchasing an additional 67,942 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in shares of Union Bankshares by 16.6% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 251,548 shares of the financial services provider’s stock valued at $9,099,000 after purchasing an additional 35,825 shares in the last quarter. Ellington Management Group LLC bought a new stake in shares of Union Bankshares in the fourth quarter valued at about $246,000. Finally, California Public Employees Retirement System lifted its holdings in shares of Union Bankshares by 15.0% in the fourth quarter. California Public Employees Retirement System now owns 85,459 shares of the financial services provider’s stock valued at $3,091,000 after purchasing an additional 11,121 shares in the last quarter. Hedge funds and other institutional investors own 67.93% of the company’s stock.

Shares of Union Bankshares opened at $40.85 on Tuesday, MarketBeat Ratings reports. The stock has a market capitalization of $2.71 billion, a PE ratio of 21.39 and a beta of 1.16. Union Bankshares Corp has a one year low of $30.45 and a one year high of $42.60. 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 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.05. The company had revenue of $126.06 million for the quarter, compared to analyst estimates of $122.73 million. Union Bankshares had a return on equity of 8.35% and a net margin of 15.54%. analysts predict that Union Bankshares Corp will post 2.58 earnings per share for the current fiscal year.

UBSH has been the topic of a number of research reports. Brean Capital restated a “hold” rating on shares of Union Bankshares in a report on Thursday, May 3rd. Zacks Investment Research upgraded Union Bankshares from a “sell” rating to a “hold” rating in a report on Wednesday, March 28th. Barclays initiated coverage on Union Bankshares in a report on Friday, June 1st. They issued an “equal weight” rating and a $44.00 price target on the stock. BidaskClub upgraded Union Bankshares from a “hold” rating to a “buy” rating in a report on Friday, May 4th. Finally, ValuEngine upgraded Union Bankshares from a “hold” rating to a “buy” rating in a report on Friday, May 11th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $43.50.

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.

Institutional Ownership by Quarter for Union Bankshares (NASDAQ:UBSH)

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