Union Bankshares (NYSE:AUB) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Tuesday, Zacks.com reports.
According to Zacks, “Atlantic Union Bankshares Corporation provides banking services to consumers and businesses. It offers checking accounts, lending, credit cards, online and mobile banking, and wealth and treasury management services. Atlantic Union Bankshares Corporation, formerly known as Union Bankshares Corporation, is based in Richmond, United States. “
Several other analysts also recently commented on AUB. Compass Point downgraded Union Bankshares from a “buy” rating to a “neutral” rating and set a $31.00 price objective on the stock. in a research note on Wednesday, March 4th. Stephens raised Union Bankshares from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, May 5th. Finally, Raymond James lowered Union Bankshares from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 29th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $37.50.
Union Bankshares stock traded up $1.18 during midday trading on Tuesday, hitting $22.64. 301,000 shares of the stock were exchanged, compared to its average volume of 403,844. The company has a fifty day simple moving average of $22.72 and a two-hundred day simple moving average of $28.22. Union Bankshares has a 52 week low of $18.55 and a 52 week high of $40.20.
Union Bankshares (NYSE:AUB) last posted its earnings results on Tuesday, April 28th. The company reported $0.09 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.39). The business had revenue of $163.92 million for the quarter, compared to the consensus estimate of $161.75 million.
In other Union Bankshares news, Director Michael W. Clarke sold 2,000 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $23.16, for a total value of $46,320.00. Following the completion of the transaction, the director now directly owns 530,979 shares in the company, valued at $12,297,473.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael W. Clarke sold 6,000 shares of Union Bankshares stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $23.19, for a total value of $139,140.00. Following the sale, the director now directly owns 511,519 shares in the company, valued at $11,862,125.61. The disclosure for this sale can be found here. In the last three months, insiders sold 32,000 shares of company stock valued at $763,500.
Several institutional investors have recently modified their holdings of the stock. Quantbot Technologies LP purchased a new stake in shares of Union Bankshares in the 4th quarter worth about $117,000. Bank of Montreal Can increased its holdings in Union Bankshares by 12.5% in the fourth quarter. Bank of Montreal Can now owns 13,943 shares of the company’s stock valued at $524,000 after buying an additional 1,547 shares during the last quarter. Barclays PLC raised its stake in Union Bankshares by 20.6% during the fourth quarter. Barclays PLC now owns 119,718 shares of the company’s stock valued at $4,494,000 after buying an additional 20,470 shares in the last quarter. Duality Advisers LP bought a new position in Union Bankshares during the 4th quarter worth approximately $657,000. Finally, Schroder Investment Management Group lifted its holdings in Union Bankshares by 8.1% during the 4th quarter. Schroder Investment Management Group now owns 272,373 shares of the company’s stock worth $10,228,000 after buying an additional 20,393 shares during the last quarter.
Union Bankshares Company Profile
Atlantic Union Bankshares Corporation operates as the holding company for Atlantic Union Bank that provides banking and related financial services to consumers and businesses. 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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