State Street Corp cut its stake in Union Bankshares Corporation (NASDAQ:UBSH) by 0.6% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 848,403 shares of the financial services provider’s stock after selling 4,865 shares during the period. State Street Corp owned 1.94% of Union Bankshares Corporation worth $29,850,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Dynamic Technology Lab Private Ltd boosted its stake in shares of Union Bankshares Corporation by 75.5% in the first quarter. Dynamic Technology Lab Private Ltd now owns 12,323 shares of the financial services provider’s stock valued at $433,000 after buying an additional 5,303 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Union Bankshares Corporation by 17.5% in the first quarter. Principal Financial Group Inc. now owns 411,966 shares of the financial services provider’s stock valued at $14,494,000 after buying an additional 61,460 shares during the period. Teachers Advisors LLC boosted its stake in shares of Union Bankshares Corporation by 22.8% in the fourth quarter. Teachers Advisors LLC now owns 98,124 shares of the financial services provider’s stock valued at $3,507,000 after buying an additional 18,247 shares during the period. Swiss National Bank boosted its stake in shares of Union Bankshares Corporation by 1.6% in the first quarter. Swiss National Bank now owns 71,958 shares of the financial services provider’s stock valued at $2,531,000 after buying an additional 1,100 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Union Bankshares Corporation by 5.5% in the first quarter. Bank of New York Mellon Corp now owns 304,892 shares of the financial services provider’s stock worth $10,726,000 after buying an additional 15,940 shares during the last quarter. 62.73% of the stock is owned by institutional investors and hedge funds.

Shares of Union Bankshares Corporation (NASDAQ UBSH) traded up 1.67% during mid-day trading on Monday, hitting $31.65. The company’s stock had a trading volume of 37,072 shares. The company has a 50-day moving average price of $32.62 and a 200-day moving average price of $34.46. Union Bankshares Corporation has a 1-year low of $26.13 and a 1-year high of $39.37. The stock has a market cap of $1.38 billion, a PE ratio of 17.64 and a beta of 1.23.

Union Bankshares Corporation (NASDAQ:UBSH) last announced its earnings results on Wednesday, July 19th. The financial services provider reported $0.46 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.46. Union Bankshares Corporation had a net margin of 20.42% and a return on equity of 7.97%. The company had revenue of $87.06 million for the quarter, compared to analysts’ expectations of $89.67 million. Analysts predict that Union Bankshares Corporation will post $1.86 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 18th. Stockholders of record on Friday, August 4th will be issued a dividend of $0.20 per share. The ex-dividend date is Wednesday, August 2nd. This represents a $0.80 annualized dividend and a dividend yield of 2.57%. Union Bankshares Corporation’s dividend payout ratio is presently 44.44%.

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A number of research firms recently issued reports on UBSH. Brean Capital reissued a “hold” rating on shares of Union Bankshares Corporation in a research report on Wednesday, August 2nd. BidaskClub cut Union Bankshares Corporation from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 25th. Zacks Investment Research cut Union Bankshares Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. ValuEngine raised Union Bankshares Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 16th. Finally, Raymond James Financial, Inc. raised Union Bankshares Corporation from an “outperform” rating to a “strong-buy” rating in a research report on Wednesday, May 24th. Two research analysts have rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $39.25.

About Union Bankshares Corporation

Union Bankshares Corporation is a financial holding company and bank holding company. The Company operates through two segments: a community bank segment and mortgage loan origination business segment. The Company offers financial services through its community bank subsidiary, Union Bank & Trust (the Bank) and three non-bank financial services affiliates.

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

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