Bank of New York Mellon Corp lifted its stake in shares of Union Bankshares Corporation (NASDAQ:UBSH) by 59.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,792,680 shares of the financial services provider’s stock after buying an additional 671,092 shares during the quarter. Bank of New York Mellon Corp owned approximately 4.10% of Union Bankshares worth $63,282,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the company. Alps Advisors Inc. grew its position in shares of Union Bankshares by 0.3% during the second quarter. Alps Advisors Inc. now owns 13,352 shares of the financial services provider’s stock worth $453,000 after buying an additional 34 shares in the last quarter. Bronfman E.L. Rothschild L.P. grew its position in shares of Union Bankshares by 3.8% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 3,226 shares of the financial services provider’s stock worth $109,000 after buying an additional 119 shares in the last quarter. Pettyjohn Wood & White Inc. grew its position in shares of Union Bankshares by 1.8% during the second quarter. Pettyjohn Wood & White Inc. now owns 9,070 shares of the financial services provider’s stock worth $307,000 after buying an additional 164 shares in the last quarter. Legal & General Group Plc grew its position in shares of Union Bankshares by 1.8% during the second quarter. Legal & General Group Plc now owns 16,440 shares of the financial services provider’s stock worth $558,000 after buying an additional 289 shares in the last quarter. Finally, Ameritas Investment Partners Inc. grew its position in shares of Union Bankshares by 8.8% during the second quarter. Ameritas Investment Partners Inc. now owns 3,789 shares of the financial services provider’s stock worth $128,000 after buying an additional 307 shares in the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

Shares of Union Bankshares Corporation (UBSH) traded up $0.25 on Friday, reaching $37.69. The company had a trading volume of 638,900 shares, compared to its average volume of 161,927. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a market capitalization of $1,591.85, a P/E ratio of 19.47 and a beta of 1.25. Union Bankshares Corporation has a 52-week low of $29.50 and a 52-week high of $39.37.

Union Bankshares (NASDAQ:UBSH) last announced its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.49. The firm had revenue of $88.73 million during the quarter, compared to the consensus estimate of $91.68 million. Union Bankshares had a return on equity of 7.98% and a net margin of 20.02%. equities research analysts predict that Union Bankshares Corporation will post 1.87 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, November 27th. Investors of record on Monday, November 13th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.23%. This is an increase from Union Bankshares’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Friday, November 10th. Union Bankshares’s dividend payout ratio is 46.67%.

A number of equities analysts recently issued reports on the company. Zacks Investment Research downgraded Union Bankshares from a “hold” rating to a “sell” rating in a report on Saturday, October 21st. Brean Capital reaffirmed a “hold” rating on shares of Union Bankshares in a report on Monday, October 30th. Finally, ValuEngine downgraded Union Bankshares from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $39.33.

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

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