Analysts Set Union Bankshares Corporation (UBSH) Price Target at $39.33
Shares of Union Bankshares Corporation (NASDAQ:UBSH) have earned an average rating of “Buy” from the eight brokerages that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, three have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $39.33.
A number of equities research analysts recently issued reports on UBSH shares. BidaskClub upgraded shares of Union Bankshares Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. ValuEngine raised shares of Union Bankshares Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 16th. Zacks Investment Research upgraded shares of Union Bankshares Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, September 6th. Finally, Brean Capital restated a “hold” rating on shares of Union Bankshares Corporation in a research report on Wednesday, August 2nd.
Union Bankshares Corporation (NASDAQ UBSH) remained flat at $35.30 during midday trading on Wednesday. 166,438 shares of the company traded hands. Union Bankshares Corporation has a 12-month low of $26.46 and a 12-month high of $39.37. The stock has a market cap of $1.54 billion, a P/E ratio of 19.61 and a beta of 1.25. The stock has a 50 day moving average of $32.10 and a 200 day moving average of $33.29.
Union Bankshares Corporation (NASDAQ:UBSH) last issued its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.46. Union Bankshares Corporation had a return on equity of 7.97% and a net margin of 20.42%. The company had revenue of $87.06 million during the quarter, compared to analysts’ expectations of $89.67 million. Analysts forecast that Union Bankshares Corporation will post $1.86 EPS for the current year.
Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Union Bankshares Corporation by 15,378.0% in the first quarter. BlackRock Inc. now owns 3,105,815 shares of the financial services provider’s stock valued at $109,261,000 after buying an additional 3,085,749 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Union Bankshares Corporation by 267.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,121,588 shares of the financial services provider’s stock worth $38,022,000 after buying an additional 816,696 shares in the last quarter. Eagle Asset Management Inc. acquired a new position in Union Bankshares Corporation during the 2nd quarter worth about $15,837,000. Teachers Advisors LLC lifted its position in Union Bankshares Corporation by 306.9% during the 1st quarter. Teachers Advisors LLC now owns 399,241 shares of the financial services provider’s stock worth $14,045,000 after buying an additional 301,117 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position 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 in the last quarter. Institutional investors own 64.13% of the company’s stock.
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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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