Union Bankshares (NASDAQ:UBSH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
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. “
A number of other research analysts have also recently weighed in on UBSH. Brean Capital reissued a “hold” rating on shares of Union Bankshares in a research note on Monday, February 5th. Merion Capital Group lifted their target price on shares of Union Bankshares from $45.00 to $47.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. BidaskClub upgraded shares of Union Bankshares from a “sell” rating to a “hold” rating in a report on Thursday, January 11th. Finally, Sandler O’Neill set a $39.00 target price on shares of Union Bankshares and gave the company a “hold” rating in a report on Thursday, January 4th. Five research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company’s stock. Union Bankshares has a consensus rating of “Buy” and a consensus price target of $41.80.
Union Bankshares (NASDAQ:UBSH) last posted its earnings results on Tuesday, January 23rd. The financial services provider reported $0.52 EPS for the quarter, beating the consensus estimate of $0.51 by $0.01. The firm had revenue of $90.64 million for the quarter, compared to analyst estimates of $91.35 million. Union Bankshares had a return on equity of 8.12% and a net margin of 18.15%. equities research analysts anticipate that Union Bankshares will post 2.51 EPS for the current fiscal year.
In other news, EVP John G. Jr. Stallings acquired 1,373 shares of the business’s stock in a transaction on Thursday, December 14th. The shares were purchased at an average price of $36.22 per share, for a total transaction of $49,730.06. Following the acquisition, 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 legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.18% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. Pitcairn Co. lifted its holdings in Union Bankshares by 55.1% in the 4th quarter. Pitcairn Co. now owns 10,871 shares of the financial services provider’s stock worth $393,000 after buying an additional 3,861 shares in the last quarter. Koch Industries Inc. bought a new stake in shares of Union Bankshares in the 4th quarter worth about $363,000. Kennedy Capital Management Inc. increased its position in shares of Union Bankshares by 23.4% in the 4th quarter. Kennedy Capital Management Inc. now owns 455,355 shares of the financial services provider’s stock worth $16,470,000 after purchasing an additional 86,497 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Union Bankshares by 24.9% in the 4th quarter. Geode Capital Management LLC now owns 496,304 shares of the financial services provider’s stock worth $17,951,000 after purchasing an additional 98,920 shares during the last quarter. Finally, Amalgamated Bank bought a new stake in shares of Union Bankshares in the 4th quarter worth about $209,000. Hedge funds and other institutional investors own 64.98% of the company’s stock.
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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