Union Bankshares (UBSH) Cut to Sell at BidaskClub

BidaskClub cut shares of Union Bankshares (NASDAQ:UBSH) from a hold rating to a sell rating in a report released on Thursday.

Several other brokerages also recently weighed in on UBSH. Zacks Investment Research upgraded shares of Union Bankshares from a hold rating to a buy rating and set a $46.00 price objective on the stock in a research report on Tuesday, September 4th. Brean Capital reiterated a hold rating on shares of Union Bankshares in a research report on Monday, August 27th. ValuEngine downgraded shares of Union Bankshares from a buy rating to a hold rating in a research report on Monday, June 11th. Raymond James boosted their price target on shares of Union Bankshares from $45.00 to $47.00 and gave the stock a strong-buy rating in a research report on Monday, August 20th. Finally, 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 target on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of Hold and an average target price of $44.60.

Shares of NASDAQ:UBSH opened at $40.75 on Thursday. The stock has a market capitalization of $2.68 billion, a P/E ratio of 16.78 and a beta of 1.18. Union Bankshares has a fifty-two week low of $31.17 and a fifty-two week high of $42.74. 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 (NASDAQ:UBSH) last issued its quarterly earnings data on Wednesday, July 18th. The financial services provider reported $0.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.20. The firm had revenue of $148.77 million for the quarter, compared to the consensus estimate of $130.36 million. Union Bankshares had a net margin of 18.94% and a return on equity of 9.47%. research analysts expect that Union Bankshares will post 2.77 earnings per share for the current fiscal year.

In other Union Bankshares news, Director Ronald L. Tillett sold 1,000 shares of the business’s stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $40.14, for a total transaction of $40,140.00. Following the sale, the director now directly owns 27,214 shares in the company, valued at approximately $1,092,369.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frederick Blair Wimbush purchased 1,200 shares of the company’s stock in a transaction on Tuesday, July 24th. The shares were bought at an average price of $41.65 per share, for a total transaction of $49,980.00. Following the completion of the transaction, the director now directly owns 1,200 shares in the company, valued at approximately $49,980. The disclosure for this purchase can be found here. 2.18% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the business. Victory Capital Management Inc. raised its position in shares of Union Bankshares by 151.8% during the 2nd quarter. Victory Capital Management Inc. now owns 434,290 shares of the financial services provider’s stock worth $16,885,000 after buying an additional 261,838 shares in the last quarter. Pitcairn Co. grew its stake in shares of 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 last quarter. Xact Kapitalforvaltning AB grew its stake in shares of 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 last quarter. Apollo Management Holdings L.P. acquired a new position in shares of Union Bankshares in the 2nd quarter worth approximately $2,439,000. Finally, Russell Investments Group Ltd. grew its stake in shares of 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 last quarter. Institutional investors own 75.82% 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.

Further Reading: Earnings Per Share

Analyst Recommendations for Union Bankshares (NASDAQ:UBSH)

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