Union Bankshares Corp (UBSH) Upgraded at Raymond James Financial, Inc.
Union Bankshares Corp (NASDAQ:UBSH) was upgraded by investment analysts at Raymond James Financial, Inc. from an “outperform” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday.
A number of other equities research analysts also recently commented on the company. Keefe, Bruyette & Woods upgraded Union Bankshares Corp from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $37.00 to $38.00 in a research report on Tuesday. Zacks Investment Research downgraded Union Bankshares Corp from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 29th. Brean Capital reiterated a “hold” rating on shares of Union Bankshares Corp in a report on Wednesday, January 25th. Finally, Compass Point upgraded Union Bankshares Corp from a “sell” rating to a “buy” rating and increased their price target for the stock from $30.00 to $39.00 in a report on Tuesday, January 24th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $38.67.
Union Bankshares Corp (NASDAQ:UBSH) opened at 32.86 on Wednesday. Union Bankshares Corp has a one year low of $23.28 and a one year high of $39.37. The stock has a market capitalization of $1.44 billion, a PE ratio of 18.01 and a beta of 1.12. The company’s 50 day moving average price is $34.03 and its 200-day moving average price is $34.87.
Union Bankshares Corp (NASDAQ:UBSH) last posted its earnings results on Wednesday, April 19th. The financial services provider reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The company had revenue of $85.41 million for the quarter, compared to the consensus estimate of $86.10 million. Union Bankshares Corp had a return on equity of 7.82% and a net margin of 21.18%. Analysts expect that Union Bankshares Corp will post $1.93 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 26th. Investors of record on Friday, May 12th will be paid a $0.20 dividend. The ex-dividend date is Wednesday, May 10th. This represents a $0.80 annualized dividend and a yield of 2.43%. Union Bankshares Corp’s dividend payout ratio (DPR) is currently 45.20%.
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A number of hedge funds and other institutional investors have recently made changes to their positions in UBSH. Dimensional Fund Advisors LP boosted its position in shares of Union Bankshares Corp by 2.9% in the first quarter. Dimensional Fund Advisors LP now owns 3,519,938 shares of the financial services provider’s stock valued at $123,832,000 after buying an additional 100,474 shares during the period. BlackRock Inc. boosted its stake in shares of Union Bankshares Corp by 15,378.0% in the first quarter. BlackRock Inc. now owns 3,105,815 shares of the financial services provider’s stock valued at $109,261,000 after buying an additional 3,085,749 shares during the period. Vanguard Group Inc. boosted its stake in shares of Union Bankshares Corp by 4.6% in the first quarter. Vanguard Group Inc. now owns 2,077,123 shares of the financial services provider’s stock valued at $73,073,000 after buying an additional 90,397 shares during the period. The Manufacturers Life Insurance Company bought a new stake in shares of Union Bankshares Corp during the third quarter valued at about $39,073,000. Finally, Northern Trust Corp boosted its stake in shares of Union Bankshares Corp by 1.8% in the third quarter. Northern Trust Corp now owns 1,345,960 shares of the financial services provider’s stock valued at $36,032,000 after buying an additional 24,345 shares during the period. 59.36% of the stock is currently owned by institutional investors.
About Union Bankshares Corp
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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