Union Bankshares Corp. (UBSH) Stock Rating Reaffirmed by Compass Point
Union Bankshares Corp. (NASDAQ:UBSH)‘s stock had its “sell” rating reaffirmed by stock analysts at Compass Point in a research report issued to clients and investors on Friday.
A number of other brokerages also recently weighed in on UBSH. Zacks Investment Research downgraded Union Bankshares Corp. from a “buy” rating to a “hold” rating in a report on Saturday, September 24th. Keefe, Bruyette & Woods upped their target price on Union Bankshares Corp. from $25.00 to $27.00 and gave the company a “market perform” rating in a report on Monday, July 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Union Bankshares Corp. has an average rating of “Hold” and a consensus target price of $28.00.
Shares of Union Bankshares Corp. (NASDAQ:UBSH) traded down 0.91% during trading on Friday, hitting $33.64. 27,487 shares of the stock were exchanged. The company has a market cap of $1.47 billion, a price-to-earnings ratio of 19.92 and a beta of 1.01. Union Bankshares Corp. has a one year low of $20.57 and a one year high of $34.22. The stock’s 50 day moving average price is $28.34 and its 200-day moving average price is $27.00.
Union Bankshares Corp. (NASDAQ:UBSH) last issued its quarterly earnings results on Thursday, October 20th. The financial services provider reported $0.47 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.02. Union Bankshares Corp. had a net margin of 20.86% and a return on equity of 7.51%. On average, analysts predict that Union Bankshares Corp. will post $1.74 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, November 28th. Shareholders of record on Monday, November 14th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.36%. The ex-dividend date is Wednesday, November 9th. This is an increase from Union Bankshares Corp.’s previous quarterly dividend of $0.19. Union Bankshares Corp.’s dividend payout ratio (DPR) is 47.34%.
A number of institutional investors have recently made changes to their positions in UBSH. Dimensional Fund Advisors LP increased its position in shares of Union Bankshares Corp. by 5.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,209,717 shares of the financial services provider’s stock valued at $79,312,000 after buying an additional 179,412 shares during the period. Vanguard Group Inc. increased its position in shares of Union Bankshares Corp. by 6.3% in the second quarter. Vanguard Group Inc. now owns 1,704,261 shares of the financial services provider’s stock valued at $42,112,000 after buying an additional 101,231 shares during the period. The Manufacturers Life Insurance Company bought a new position in shares of Union Bankshares Corp. during the third quarter valued at approximately $39,073,000. Northern Trust Corp increased its position in shares of Union Bankshares Corp. by 1.8% in the third quarter. Northern Trust Corp now owns 1,345,960 shares of the financial services provider’s stock valued at $36,032,000 after buying an additional 24,345 shares during the period. Finally, BlackRock Institutional Trust Company N.A. increased its position in shares of Union Bankshares Corp. by 9.3% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,336,161 shares of the financial services provider’s stock valued at $35,769,000 after buying an additional 113,236 shares during the period. Institutional investors own 57.02% of the company’s stock.
About Union Bankshares Corp.
Union Bankshares Corporation, formerly Union First Market Bankshares Corporation, is a financial holding company and a bank holding company. The Company offers financial services through its community bank subsidiary, Union Bank & Trust and three non-bank financial services affiliates. The Company’s non-bank financial services affiliates are Union Mortgage Group, Inc (UMG), Union Investment Services, Inc and Union Insurance Group, LLC.
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