Union Bankshares Corp (UBSH) Stake Lowered by Keeley Teton Advisors LLC
Keeley Teton Advisors LLC reduced its holdings in Union Bankshares Corp (NASDAQ:UBSH) by 7.8% during the 4th quarter, HoldingsChannel reports. The fund owned 29,645 shares of the financial services provider’s stock after selling 2,500 shares during the quarter. Keeley Teton Advisors LLC’s holdings in Union Bankshares were worth $1,072,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. US Bancorp DE boosted its holdings in shares of Union Bankshares by 101.5% in the 4th quarter. US Bancorp DE now owns 4,263 shares of the financial services provider’s stock worth $154,000 after acquiring an additional 2,147 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Union Bankshares in the 4th quarter worth approximately $201,000. Amalgamated Bank acquired a new position in shares of Union Bankshares in the 4th quarter worth approximately $209,000. Canal Capital Management LLC acquired a new position in shares of Union Bankshares in the 4th quarter worth approximately $238,000. Finally, Dubuque Bank & Trust Co. acquired a new position in shares of Union Bankshares in the 4th quarter worth approximately $242,000. 46.71% of the stock is currently owned by institutional investors and hedge funds.
In other news, EVP John G. Jr. Stallings acquired 1,373 shares of Union Bankshares stock in a transaction on Thursday, December 14th. The shares were purchased at an average price of $36.22 per share, with a total value of $49,730.06. Following the acquisition, the executive vice president now owns 9,582 shares in the company, valued at $347,060.04. The transaction was disclosed in a document filed with the SEC, which is available through this link. 2.18% of the stock is currently owned by corporate insiders.
Union Bankshares (NASDAQ:UBSH) last posted its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.01. Union Bankshares had a return on equity of 8.09% and a net margin of 18.15%. The firm had revenue of $90.64 million for the quarter, compared to the consensus estimate of $91.35 million. equities analysts expect that Union Bankshares Corp will post 2.51 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 20th. Shareholders of record on Tuesday, February 6th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.13%. The ex-dividend date was Monday, February 5th. Union Bankshares’s dividend payout ratio is 50.30%.
Several research analysts have recently commented on UBSH shares. Brean Capital reissued a “hold” rating on shares of Union Bankshares in a report on Monday, February 5th. Zacks Investment Research downgraded Union Bankshares from a “buy” rating to a “hold” rating in a report on Wednesday, February 14th. Merion Capital Group upped their price objective on Union Bankshares from $45.00 to $47.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. BidaskClub downgraded Union Bankshares from a “hold” rating to a “sell” rating in a report on Wednesday, January 3rd. Finally, Sandler O’Neill set a $39.00 price objective on Union Bankshares and gave the stock a “hold” rating in a report on Thursday, January 4th. Five equities research analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $41.80.
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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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