Union Bankshares Corp. (UBSH) Set to Announce Quarterly Earnings on Thursday
Union Bankshares Corp. (NASDAQ:UBSH) is scheduled to post its quarterly earnings results before the market opens on Thursday, October 20th. Analysts expect Union Bankshares Corp. to post earnings of $0.45 per share for the quarter.
Union Bankshares Corp. (NASDAQ:UBSH) last announced its earnings results on Friday, July 22nd. The financial services provider reported $0.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.03. Union Bankshares Corp. had a return on equity of 7.30% and a net margin of 20.64%. On average, analysts expect Union Bankshares Corp. to post $1.7 EPS for the current fiscal year and $1.85 EPS for the next fiscal year.
Union Bankshares Corp. (NASDAQ:UBSH) opened at 26.94 on Wednesday. The company has a market cap of $1.17 billion, a PE ratio of 16.63 and a beta of 1.16. The company’s 50-day moving average price is $27.14 and its 200 day moving average price is $26.43. Union Bankshares Corp. has a 52 week low of $20.57 and a 52 week high of $27.96.
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Hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC raised its stake in shares of Union Bankshares Corp. by 6.1% in the second quarter. AQR Capital Management LLC now owns 63,003 shares of the financial services provider’s stock valued at $1,557,000 after buying an additional 3,613 shares in the last quarter. Guggenheim Capital LLC acquired a new position in shares of Union Bankshares Corp. during the second quarter valued at about $1,186,000. Parametric Portfolio Associates LLC increased its position in shares of Union Bankshares Corp. by 5.6% in the second quarter. Parametric Portfolio Associates LLC now owns 44,170 shares of the financial services provider’s stock valued at $1,091,000 after buying an additional 2,359 shares during the last quarter. Citadel Advisors LLC acquired a new position in shares of Union Bankshares Corp. during the second quarter valued at about $850,000. Finally, KCG Holdings Inc. acquired a new position in shares of Union Bankshares Corp. during the second quarter valued at about $278,000. 57.68% of the stock is currently owned by institutional investors and hedge funds.
UBSH has been the topic of several recent analyst reports. Zacks Investment Research lowered Union Bankshares Corp. from a “buy” rating to a “hold” rating in a research note on Saturday, September 24th. Keefe, Bruyette & Woods boosted their price target on Union Bankshares Corp. from $25.00 to $27.00 and gave the company a “market perform” rating in a research note on Monday, July 25th. Four research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Union Bankshares Corp. presently has a consensus rating of “Buy” and an average price target of $28.00.
About Union Bankshares Corp.
Union Bankshares Corporation, formerly Union First Market Bankshares Corporation, is a financial holding company and a bank holding company. The Company offers financial services through its community bank subsidiary, Union Bank & Trust and three non-bank financial services affiliates. The Company’s non-bank financial services affiliates are Union Mortgage Group, Inc (UMG), Union Investment Services, Inc and Union Insurance Group, LLC.
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