Union Bankshares Corporation (UBSH) Rating Increased to Hold at Zacks Investment Research
Union Bankshares Corporation (NASDAQ:UBSH) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Thursday.
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. “
Several other analysts have also recently issued reports on the company. BidaskClub upgraded Union Bankshares Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. ValuEngine upgraded Union Bankshares Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 16th. Finally, Brean Capital restated a “hold” rating on shares of Union Bankshares Corporation in a research note on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $39.33.
Union Bankshares Corporation (NASDAQ:UBSH) opened at 35.00 on Thursday. The stock has a market cap of $1.53 billion, a P/E ratio of 19.51 and a beta of 1.25. Union Bankshares Corporation has a 1-year low of $26.46 and a 1-year high of $39.37. The company’s 50-day moving average price is $32.28 and its 200-day moving average price is $33.30.
Union Bankshares Corporation (NASDAQ:UBSH) last announced its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.46. Union Bankshares Corporation had a return on equity of 7.97% and a net margin of 20.42%. The firm 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 year.
Several institutional investors have recently made changes to their positions in UBSH. BlackRock Inc. raised its position in shares of Union Bankshares Corporation by 15,378.0% during the 1st quarter. BlackRock Inc. now owns 3,105,815 shares of the financial services provider’s stock worth $109,261,000 after purchasing an additional 3,085,749 shares during the period. Bank of New York Mellon Corp raised its position in shares of 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 purchasing an additional 816,696 shares during the period. Eagle Asset Management Inc. acquired a new stake in shares of Union Bankshares Corporation during the 2nd quarter worth approximately $15,837,000. Teachers Advisors LLC raised its position in shares of 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 purchasing an additional 301,117 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of 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 purchasing an additional 146,885 shares during the period. Institutional investors and hedge funds own 64.13% of the company’s stock.
Union Bankshares Corporation Company Profile
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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