Union Bankshares (NASDAQ:UBSH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday. They currently have a $40.00 target price on the financial services provider’s stock. Zacks Investment Research‘s price target indicates a potential upside of 5.12% from the company’s previous close.

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. “

UBSH has been the topic of several other research reports. Brean Capital reiterated a “hold” rating on shares of Union Bankshares in a report on Monday, October 30th. BidaskClub upgraded Union Bankshares from a “sell” rating to a “hold” rating in a report on Thursday. ValuEngine raised Union Bankshares from a “hold” rating to a “buy” rating in a research note on Saturday, September 30th. Finally, Sandler O’Neill set a $39.00 target price on Union Bankshares and gave the stock a “hold” rating in a research note on Thursday, January 4th. Five research analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $39.40.

Union Bankshares (NASDAQ:UBSH) traded up $1.04 during mid-day trading on Friday, hitting $38.05. The company had a trading volume of 213,900 shares, compared to its average volume of 268,050. 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 stock has a market cap of $1,640.00, a P/E ratio of 21.14 and a beta of 1.28. Union Bankshares has a 52-week low of $29.50 and a 52-week high of $39.37.

Union Bankshares (NASDAQ:UBSH) last posted its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.49. The firm had revenue of $88.73 million for the quarter, compared to the consensus estimate of $91.68 million. Union Bankshares had a return on equity of 8.00% and a net margin of 23.28%. sell-side analysts expect that Union Bankshares will post 1.86 EPS for the current fiscal year.

In related news, EVP John G. Jr. Stallings bought 1,373 shares of the stock in a transaction that occurred on Thursday, December 14th. The stock was purchased at an average cost of $36.22 per share, with a total value of $49,730.06. Following the purchase, the executive vice president now directly owns 9,582 shares of the company’s stock, valued at approximately $347,060.04. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.18% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its position in shares of Union Bankshares by 59.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,792,680 shares of the financial services provider’s stock valued at $63,282,000 after purchasing an additional 671,092 shares during the period. Janus Henderson Group PLC acquired a new stake in shares of Union Bankshares in the 3rd quarter valued at about $21,259,000. Dimensional Fund Advisors LP boosted its position in shares of Union Bankshares by 4.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,666,823 shares of the financial services provider’s stock valued at $124,306,000 after purchasing an additional 146,885 shares during the period. Thrivent Financial For Lutherans boosted its position in shares of Union Bankshares by 509.7% in the 2nd quarter. Thrivent Financial For Lutherans now owns 165,460 shares of the financial services provider’s stock valued at $5,609,000 after purchasing an additional 138,320 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of Union Bankshares by 15.9% in the 2nd quarter. Renaissance Technologies LLC now owns 803,745 shares of the financial services provider’s stock valued at $27,247,000 after purchasing an additional 110,040 shares during the period. 64.54% of the stock is owned by institutional investors and hedge funds.

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About Union Bankshares

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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