Union Bankshares Corp. (UBSH) Receives New Coverage from Analysts at Brean Capital
Investment analysts at Brean Capital assumed coverage on shares of Union Bankshares Corp. (NASDAQ:UBSH) in a research report issued on Wednesday. The firm set a “hold” rating on the financial services provider’s stock.
Several other brokerages also recently weighed in on UBSH. Compass Point reaffirmed a “sell” rating on shares of Union Bankshares Corp. in a research note on Friday, November 18th. Zacks Investment Research downgraded Union Bankshares Corp. from a “buy” rating to a “hold” rating in a research note on Saturday, September 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $28.00.
Union Bankshares Corp. (NASDAQ:UBSH) traded up 1.95% on Wednesday, hitting $34.50. 19,197 shares of the company were exchanged. The stock has a market capitalization of $1.50 billion, a P/E ratio of 20.43 and a beta of 1.01. Union Bankshares Corp. has a 52-week low of $20.57 and a 52-week high of $34.60. The stock’s 50-day moving average price is $29.59 and its 200-day moving average price is $27.35.
Union Bankshares Corp. (NASDAQ:UBSH) last released its quarterly earnings data on Thursday, October 20th. The financial services provider reported $0.47 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.02. Union Bankshares Corp. had a return on equity of 7.51% and a net margin of 20.86%. On average, equities research analysts anticipate that Union Bankshares Corp. will post $1.74 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, November 28th. Shareholders of record on Monday, November 14th were issued a $0.20 dividend. This is a boost from Union Bankshares Corp.’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a yield of 2.36%. The ex-dividend date was Wednesday, November 9th. Union Bankshares Corp.’s dividend payout ratio is presently 47.34%.
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Hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC boosted its position in Union Bankshares Corp. by 11.6% in the first quarter. Renaissance Technologies LLC now owns 583,905 shares of the financial services provider’s stock worth $14,382,000 after buying an additional 60,900 shares in the last quarter. Emerald Acquisition Ltd. acquired a new position in Union Bankshares Corp. during the second quarter worth $3,621,000. California Public Employees Retirement System boosted its position in Union Bankshares Corp. by 21.7% in the second quarter. California Public Employees Retirement System now owns 76,400 shares of the financial services provider’s stock worth $1,888,000 after buying an additional 13,600 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Union Bankshares Corp. by 66.6% in the second quarter. First Trust Advisors LP now owns 70,362 shares of the financial services provider’s stock worth $1,739,000 after buying an additional 28,123 shares during the period. Finally, LSV Asset Management boosted its position in shares of Union Bankshares Corp. by 14.3% in the second quarter. LSV Asset Management now owns 146,340 shares of the financial services provider’s stock worth $3,616,000 after buying an additional 18,300 shares during the period. Institutional investors own 58.49% 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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