Union Bankshares Corp (UBSH) Expected to Post Earnings of $0.68 Per Share

Wall Street brokerages expect Union Bankshares Corp (NASDAQ:UBSH) to announce earnings of $0.68 per share for the current quarter, according to Zacks. Two analysts have made estimates for Union Bankshares’ earnings. The lowest EPS estimate is $0.67 and the highest is $0.68. Union Bankshares reported earnings of $0.59 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 15.3%. The firm is expected to report its next earnings report before the market opens on Wednesday, April 24th.

On average, analysts expect that Union Bankshares will report full-year earnings of $2.84 per share for the current financial year, with EPS estimates ranging from $2.81 to $2.87. For the next financial year, analysts expect that the company will post earnings of $3.12 per share, with EPS estimates ranging from $3.07 to $3.15. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover Union Bankshares.

Union Bankshares (NASDAQ:UBSH) last issued its earnings results on Tuesday, January 22nd. The financial services provider reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. The business had revenue of $132.58 million during the quarter, compared to analyst estimates of $131.01 million. Union Bankshares had a return on equity of 9.52% and a net margin of 23.02%.

A number of research analysts recently commented on the company. BidaskClub upgraded Union Bankshares from a “hold” rating to a “buy” rating in a research note on Tuesday. ValuEngine lowered Union Bankshares from a “hold” rating to a “sell” rating in a research note on Wednesday, March 20th. Boenning Scattergood assumed coverage on Union Bankshares in a research note on Wednesday, March 20th. They issued a “neutral” rating for the company. Raymond James upped their target price on Union Bankshares from $37.00 to $42.00 and gave the company a “strong-buy” rating in a research note on Friday, March 15th. Finally, Zacks Investment Research lowered Union Bankshares from a “hold” rating to a “sell” rating in a research note on Saturday, January 19th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $41.86.

A number of institutional investors have recently added to or reduced their stakes in UBSH. Bank of New York Mellon Corp raised its stake in Union Bankshares by 3.5% during the third quarter. Bank of New York Mellon Corp now owns 2,194,913 shares of the financial services provider’s stock worth $84,571,000 after acquiring an additional 74,204 shares in the last quarter. BlackRock Inc. raised its stake in Union Bankshares by 2.3% during the third quarter. BlackRock Inc. now owns 4,415,265 shares of the financial services provider’s stock worth $170,119,000 after acquiring an additional 100,617 shares in the last quarter. FMR LLC raised its stake in Union Bankshares by 24.9% during the third quarter. FMR LLC now owns 1,132,819 shares of the financial services provider’s stock worth $43,646,000 after acquiring an additional 225,486 shares in the last quarter. Credit Suisse AG increased its stake in shares of Union Bankshares by 9.7% in the third quarter. Credit Suisse AG now owns 55,689 shares of the financial services provider’s stock valued at $2,146,000 after buying an additional 4,947 shares in the last quarter. Finally, Citadel Advisors LLC acquired a new stake in shares of Union Bankshares in the third quarter valued at $964,000. Hedge funds and other institutional investors own 62.27% of the company’s stock.

Shares of NASDAQ UBSH traded down $0.18 during trading hours on Friday, reaching $35.29. The stock had a trading volume of 251,515 shares, compared to its average volume of 344,352. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $2.89 billion, a price-to-earnings ratio of 13.02 and a beta of 1.38. Union Bankshares has a twelve month low of $26.48 and a twelve month high of $42.74.

About Union Bankshares

Union Bankshares Corporation provides banking solutions. It offers demand deposits and interest and non-interest bearing time and savings deposits. The bank's deposits include jumbo deposits and retail time deposits. The bank provides commercial and industrial loans, consumer loans, commercial real estate loans, and other loans and leases.

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