California State Teachers Retirement System decreased its stake in Union Bankshares Corporation (NASDAQ:UBSH) by 10.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 76,530 shares of the financial services provider’s stock after selling 8,948 shares during the period. California State Teachers Retirement System owned approximately 0.18% of Union Bankshares Corporation worth $2,594,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its stake in shares of Union Bankshares Corporation by 4.2% in the second quarter. Dimensional Fund Advisors LP now owns 3,666,823 shares of the financial services provider’s stock worth $124,306,000 after acquiring an additional 146,885 shares during the last quarter. BlackRock Inc. grew its stake in shares of Union Bankshares Corporation by 2.0% in the second quarter. BlackRock Inc. now owns 3,166,543 shares of the financial services provider’s stock worth $107,346,000 after acquiring an additional 60,728 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in shares of Union Bankshares Corporation by 1.5% in the second 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 acquiring an additional 36,050 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Union Bankshares Corporation by 0.5% in the second quarter. Vanguard Group Inc. now owns 2,086,617 shares of the financial services provider’s stock worth $70,737,000 after acquiring an additional 9,494 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Union Bankshares Corporation by 1.2% in the second quarter. Northern Trust Corp now owns 1,387,345 shares of the financial services provider’s stock worth $47,031,000 after acquiring an additional 16,918 shares during the last quarter. Institutional investors and hedge funds own 63.61% of the company’s stock.

A number of research firms have weighed in on UBSH. Brean Capital reiterated a “hold” rating on shares of Union Bankshares Corporation in a research note on Monday, October 30th. Zacks Investment Research downgraded shares of Union Bankshares Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, October 21st. ValuEngine downgraded shares of Union Bankshares Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, October 10th. Finally, BidaskClub downgraded shares of Union Bankshares Corporation from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 25th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $39.33.

Shares of Union Bankshares Corporation (NASDAQ UBSH) opened at $33.68 on Friday. Union Bankshares Corporation has a 52 week low of $29.50 and a 52 week high of $39.37. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.93 and a current ratio of 0.94. The firm has a market cap of $1,473.11, a price-to-earnings ratio of 18.01 and a beta of 1.25.

Union Bankshares Corporation (NASDAQ:UBSH) last posted its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.49 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.49. Union Bankshares Corporation had a net margin of 20.02% and a return on equity of 7.98%. The firm had revenue of $88.73 million for the quarter, compared to the consensus estimate of $91.68 million. equities analysts forecast that Union Bankshares Corporation will post 1.88 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, November 27th. Stockholders of record on Monday, November 13th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.49%. The ex-dividend date is Friday, November 10th. This is an increase from Union Bankshares Corporation’s previous quarterly dividend of $0.20. Union Bankshares Corporation’s payout ratio is currently 44.44%.

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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.

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

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