Equities research analysts predict that Union Bankshares Corp (NASDAQ:UBSH) will post sales of $130.41 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Union Bankshares’ earnings, with the lowest sales estimate coming in at $130.00 million and the highest estimate coming in at $130.83 million. Union Bankshares reported sales of $87.06 million in the same quarter last year, which indicates a positive year over year growth rate of 49.8%. The business is expected to announce its next earnings report on Wednesday, July 18th.
On average, analysts expect that Union Bankshares will report full year sales of $527.55 million for the current year, with estimates ranging from $525.38 million to $529.72 million. For the next fiscal year, analysts anticipate that the business will post sales of $565.06 million per share, with estimates ranging from $552.47 million to $577.66 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow Union Bankshares.
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, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.05. Union Bankshares had a net margin of 15.54% and a return on equity of 8.35%. The company had revenue of $126.06 million during the quarter, compared to analysts’ expectations of $122.73 million.
Several equities research analysts have recently weighed in on UBSH shares. ValuEngine upgraded shares of Union Bankshares from a “hold” rating to a “buy” rating in a research report on Friday, May 11th. BidaskClub upgraded shares of Union Bankshares from a “hold” rating to a “buy” rating in a research report on Friday, May 4th. Barclays started coverage on shares of Union Bankshares in a research report on Friday, June 1st. They set an “equal weight” rating and a $44.00 price objective for the company. Brean Capital reiterated a “hold” rating on shares of Union Bankshares in a research report on Thursday, May 3rd. Finally, Zacks Investment Research upgraded shares of Union Bankshares from a “sell” rating to a “hold” rating in a research report on Wednesday, March 28th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Union Bankshares currently has a consensus rating of “Hold” and an average target price of $43.50.
UBSH opened at $38.88 on Friday. Union Bankshares has a twelve month low of $30.45 and a twelve month high of $42.60. 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 firm has a market cap of $2.63 billion, a PE ratio of 20.36 and a beta of 1.16.
A number of large investors have recently bought and sold shares of UBSH. Ladenburg Thalmann Financial Services Inc. grew its holdings in 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 purchasing an additional 1,400 shares during the period. US Bancorp DE grew its holdings in 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 purchasing an additional 2,147 shares during the period. SG Americas Securities LLC acquired a new stake in Union Bankshares in the first quarter worth $166,000. Virtu Financial LLC acquired a new stake in Union Bankshares in the fourth quarter worth $201,000. Finally, BB&T Securities LLC acquired a new stake in Union Bankshares in the fourth quarter worth $205,000. Institutional investors and hedge funds own 68.34% of the company’s stock.
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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