Union Bankshares Corporation (UBSH) Upgraded by Zacks Investment Research to Hold
Zacks Investment Research upgraded shares of Union Bankshares Corporation (NASDAQ:UBSH) from a sell rating to a hold rating in a research report report published on Wednesday.
According to Zacks, “Union Bankshares Corporation is the holding company for Union First Market Bank. The Company operates through two segments, Community Bank and Mortgage. The Banks offer a wide range of banking and related financial services including checking, savings, certificates of deposit and other depository services, discount brokerage services, and a variety of loans. It provides credit cards, automated teller machine services, Internet banking services, and online bill payment services, as well as private banking and trust services to individuals and corporations. Union Bankshares Corporation, formerly Union First Market Bankshares Corporation, is headquartered in Richmond, Virginia. “
UBSH has been the subject of a number of other research reports. Raymond James Financial, Inc. raised Union Bankshares Corporation from an outperform rating to a strong-buy rating in a report on Wednesday, May 24th. ValuEngine downgraded Union Bankshares Corporation from a buy rating to a hold rating in a report on Friday, September 1st. Keefe, Bruyette & Woods raised Union Bankshares Corporation from a market perform rating to an outperform rating and increased their price target for the company from $37.00 to $38.00 in a report on Tuesday, May 23rd. BidaskClub raised Union Bankshares Corporation from a sell rating to a hold rating in a report on Saturday, June 10th. Finally, Brean Capital reissued a hold rating on shares of Union Bankshares Corporation in a report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $39.25.
Union Bankshares Corporation (UBSH) traded up 0.13% during midday trading on Wednesday, reaching $30.76. The company had a trading volume of 97,955 shares. Union Bankshares Corporation has a 12 month low of $26.13 and a 12 month high of $39.37. The firm’s 50-day moving average price is $31.42 and its 200 day moving average price is $33.79. The firm has a market capitalization of $1.34 billion, a PE ratio of 17.15 and a beta of 1.24.
Union Bankshares Corporation (NASDAQ:UBSH) last issued its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.46 EPS for the quarter, meeting analysts’ consensus estimates of $0.46. The firm had revenue of $87.06 million during the quarter, compared to the consensus estimate of $89.67 million. Union Bankshares Corporation had a return on equity of 7.97% and a net margin of 20.42%. Equities analysts anticipate that Union Bankshares Corporation will post $1.86 earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which was paid on Friday, August 18th. Shareholders of record on Friday, August 4th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date was Wednesday, August 2nd. Union Bankshares Corporation’s dividend payout ratio is presently 44.44%.
A number of large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its holdings in Union Bankshares Corporation by 4.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,666,823 shares of the financial services provider’s stock worth $124,306,000 after buying an additional 146,885 shares during the last quarter. BlackRock Inc. lifted its holdings in Union Bankshares Corporation by 2.0% during the 2nd quarter. BlackRock Inc. now owns 3,166,543 shares of the financial services provider’s stock worth $107,346,000 after buying an additional 60,728 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its holdings in Union Bankshares Corporation by 1.5% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 2,382,950 shares of the financial services provider’s stock worth $80,783,000 after buying an additional 36,050 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Union Bankshares Corporation by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 2,086,617 shares of the financial services provider’s stock worth $70,737,000 after buying an additional 9,494 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in Union Bankshares Corporation by 1.2% during the 2nd quarter. Northern Trust Corp now owns 1,387,345 shares of the financial services provider’s stock worth $47,031,000 after buying an additional 16,918 shares during the last quarter. 64.59% of the stock is currently owned by institutional investors.
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.
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