Capital Fund Management S.A. Increases Stake in Union Bankshares Corporation (UBSH)
Capital Fund Management S.A. grew its holdings in Union Bankshares Corporation (NASDAQ:UBSH) by 117.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 17,600 shares of the financial services provider’s stock after buying an additional 9,500 shares during the quarter. Capital Fund Management S.A.’s holdings in Union Bankshares Corporation were worth $597,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in UBSH. Bronfman E.L. Rothschild L.P. boosted its holdings in Union Bankshares Corporation by 3.8% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 3,226 shares of the financial services provider’s stock valued at $109,000 after acquiring an additional 119 shares during the last quarter. SG Americas Securities LLC bought a new position in Union Bankshares Corporation in the second quarter valued at about $119,000. Ameritas Investment Partners Inc. bought a new position in Union Bankshares Corporation in the first quarter valued at about $122,000. Victory Capital Management Inc. boosted its holdings in Union Bankshares Corporation by 17.6% in the second quarter. Victory Capital Management Inc. now owns 5,230 shares of the financial services provider’s stock valued at $177,000 after acquiring an additional 783 shares during the last quarter. Finally, Cornerstone Capital Management Holdings LLC. bought a new position in Union Bankshares Corporation in the first quarter valued at about $207,000. Institutional investors own 64.13% of the company’s stock.
Several equities analysts recently issued reports on UBSH shares. Keefe, Bruyette & Woods upgraded Union Bankshares Corporation from a “market perform” rating to an “outperform” rating and raised their price target for the company from $37.00 to $38.00 in a report on Tuesday, May 23rd. Raymond James Financial, Inc. upgraded Union Bankshares Corporation from an “outperform” rating to a “strong-buy” rating in a report on Wednesday, May 24th. Brean Capital reiterated a “hold” rating on shares of Union Bankshares Corporation in a report on Wednesday, August 2nd. BidaskClub cut Union Bankshares Corporation from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 25th. Finally, Zacks Investment Research cut Union Bankshares Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $39.25.
Union Bankshares Corporation (NASDAQ:UBSH) opened at 31.50 on Monday. Union Bankshares Corporation has a one year low of $26.13 and a one year high of $39.37. The company has a market cap of $1.38 billion, a PE ratio of 17.56 and a beta of 1.24. The firm’s 50-day moving average price is $31.41 and its 200-day moving average price is $33.54.
Union Bankshares Corporation (NASDAQ:UBSH) last issued its earnings results on Wednesday, July 19th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.46. Union Bankshares Corporation had a return on equity of 7.97% and a net margin of 20.42%. The business had revenue of $87.06 million during the quarter, compared to analysts’ expectations of $89.67 million. On average, equities research analysts forecast that Union Bankshares Corporation will post $1.86 earnings per share for the current fiscal year.
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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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