Union Bankshares Corp (UBSH) Holdings Lifted by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its holdings in shares of Union Bankshares Corp (NASDAQ:UBSH) by 0.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,120,709 shares of the financial services provider’s stock after purchasing an additional 4,490 shares during the quarter. Bank of New York Mellon Corp’s holdings in Union Bankshares were worth $82,454,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Cubist Systematic Strategies LLC lifted its position in shares of Union Bankshares by 22.5% during the second quarter. Cubist Systematic Strategies LLC now owns 6,974 shares of the financial services provider’s stock worth $271,000 after purchasing an additional 1,282 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Union Bankshares by 67.0% during 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 last quarter. Amalgamated Bank lifted its position in shares of Union Bankshares by 20.9% during the second quarter. Amalgamated Bank now owns 8,934 shares of the financial services provider’s stock worth $347,000 after purchasing an additional 1,546 shares during the last quarter. Virginia Retirement Systems ET AL lifted its position in shares of Union Bankshares by 7.6% during the second quarter. Virginia Retirement Systems ET AL now owns 28,151 shares of the financial services provider’s stock worth $1,095,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Xact Kapitalforvaltning AB lifted its position in shares of Union Bankshares by 21.2% during the second 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. Institutional investors and hedge funds own 75.52% of the company’s stock.

UBSH stock opened at $34.37 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.89 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $2.30 billion, a P/E ratio of 17.99 and a beta of 1.23. Union Bankshares Corp has a 1-year low of $32.04 and a 1-year high of $42.74.

Union Bankshares (NASDAQ:UBSH) last released its quarterly earnings data on Wednesday, October 17th. The financial services provider reported $0.61 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.03). The firm had revenue of $125.85 million during the quarter, compared to the consensus estimate of $132.49 million. Union Bankshares had a net margin of 20.38% and a return on equity of 9.36%. On average, sell-side analysts anticipate that Union Bankshares Corp will post 2.75 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 23rd. Investors of record on Friday, November 9th will be issued a $0.23 dividend. The ex-dividend date is Thursday, November 8th. This represents a $0.92 annualized dividend and a dividend yield of 2.68%. Union Bankshares’s payout ratio is currently 48.17%.

Several research firms have recently weighed in on UBSH. Zacks Investment Research downgraded Union Bankshares from a “buy” rating to a “hold” rating in a research report on Tuesday, October 23rd. Brean Capital restated a “buy” rating on shares of Union Bankshares in a report on Monday, October 29th. BidaskClub upgraded Union Bankshares from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 30th. ValuEngine downgraded Union Bankshares from a “hold” rating to a “sell” rating in a report on Wednesday, October 17th. Finally, Raymond James lifted their price objective on Union Bankshares from $45.00 to $47.00 and gave the company a “strong-buy” rating in a report on Monday, August 20th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $44.14.

In related news, Director G William Beale sold 1,000 shares of Union Bankshares stock in a transaction dated Thursday, September 20th. The stock was sold at an average price of $40.45, for a total value of $40,450.00. Following the completion of the sale, the director now directly owns 100,462 shares in the company, valued at $4,063,687.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.18% of the company’s stock.

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

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