Schwab Charles Investment Management Inc. Has $14.37 Million Holdings in Union Bankshares Corp (UBSH)

Schwab Charles Investment Management Inc. boosted its stake in Union Bankshares Corp (NASDAQ:UBSH) by 12.0% during the second quarter, HoldingsChannel.com reports. The firm owned 369,470 shares of the financial services provider’s stock after buying an additional 39,691 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Union Bankshares were worth $14,365,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Victory Capital Management Inc. increased its stake in Union Bankshares by 151.8% in the 2nd quarter. Victory Capital Management Inc. now owns 434,290 shares of the financial services provider’s stock worth $16,885,000 after purchasing an additional 261,838 shares during the period. Pitcairn Co. increased its stake in Union Bankshares by 24.4% in the 1st quarter. Pitcairn Co. now owns 13,522 shares of the financial services provider’s stock worth $497,000 after purchasing an additional 2,651 shares during the period. Xact Kapitalforvaltning AB increased its stake in Union Bankshares by 21.2% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 12,016 shares of the financial services provider’s stock worth $467,000 after purchasing an additional 2,100 shares during the period. Russell Investments Group Ltd. increased its stake in Union Bankshares by 148.6% in the 1st quarter. Russell Investments Group Ltd. now owns 28,423 shares of the financial services provider’s stock worth $1,044,000 after purchasing an additional 16,991 shares during the period. Finally, California State Teachers Retirement System increased its stake in Union Bankshares by 25.3% in the 1st quarter. California State Teachers Retirement System now owns 85,268 shares of the financial services provider’s stock worth $3,130,000 after purchasing an additional 17,211 shares during the period. 75.82% of the stock is currently owned by institutional investors and hedge funds.

UBSH opened at $40.75 on Monday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.93 and a current ratio of 0.93. Union Bankshares Corp has a 52-week low of $31.17 and a 52-week high of $42.74. The company has a market cap of $2.68 billion, a PE ratio of 21.34 and a beta of 1.18.

Union Bankshares (NASDAQ:UBSH) last posted its earnings results on Wednesday, July 18th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.20. Union Bankshares had a return on equity of 9.47% and a net margin of 18.94%. The firm had revenue of $148.77 million for the quarter, compared to analysts’ expectations of $130.36 million. equities analysts anticipate that Union Bankshares Corp will post 2.77 EPS for the current year.

In other news, Director G William Beale sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $41.56, for a total transaction of $41,560.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Frederick Blair Wimbush bought 1,200 shares of Union Bankshares stock in a transaction dated Tuesday, July 24th. The shares were acquired at an average cost of $41.65 per share, for a total transaction of $49,980.00. Following the completion of the purchase, the director now directly owns 1,200 shares of the company’s stock, valued at approximately $49,980. The disclosure for this purchase can be found here. 2.18% of the stock is currently owned by insiders.

A number of equities analysts have commented on UBSH shares. BidaskClub cut Union Bankshares from a “buy” rating to a “hold” rating in a research note on Wednesday, June 13th. Raymond James lifted their price target on Union Bankshares from $45.00 to $47.00 and gave the stock a “strong-buy” rating in a research note on Monday, August 20th. Brean Capital reaffirmed a “hold” rating on shares of Union Bankshares in a research note on Monday, August 27th. Zacks Investment Research raised Union Bankshares from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research note on Tuesday, September 4th. Finally, Barclays assumed coverage on Union Bankshares in a research note on Friday, June 1st. They set an “equal weight” rating and a $44.00 target price on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $44.60.

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

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