Union Bankshares Corp (UBSH) Receives Consensus Recommendation of “Buy” from Analysts
Shares of Union Bankshares Corp (NASDAQ:UBSH) have been assigned an average recommendation of “Buy” from the eight ratings firms that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, two have given a hold recommendation, two have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $39.33.
A number of research analysts have issued reports on the company. ValuEngine downgraded Union Bankshares from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. Zacks Investment Research downgraded Union Bankshares from a “hold” rating to a “sell” rating in a report on Saturday, October 21st. Finally, Brean Capital reissued a “hold” rating on shares of Union Bankshares in a report on Tuesday, October 24th.
Several hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its stake in shares of Union Bankshares by 0.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,677,853 shares of the financial services provider’s stock worth $129,827,000 after buying an additional 11,030 shares during the period. BlackRock Inc. raised its stake in shares of Union Bankshares by 2.0% during the 2nd quarter. BlackRock Inc. now owns 3,166,543 shares of the financial services provider’s stock worth $107,346,000 after buying an additional 60,728 shares during the period. Vanguard Group Inc. raised its stake in shares of Union Bankshares by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 2,086,617 shares of the financial services provider’s stock worth $70,737,000 after buying an additional 9,494 shares during the period. Bank of New York Mellon Corp raised its stake in 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 last quarter. Finally, Northern Trust Corp raised its stake in Union Bankshares by 1.2% in the 2nd quarter. Northern Trust Corp now owns 1,387,345 shares of the financial services provider’s stock valued at $47,031,000 after purchasing an additional 16,918 shares during the last quarter. 65.04% of the stock is owned by institutional investors and hedge funds.
Union Bankshares (NASDAQ:UBSH) last announced its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.49. Union Bankshares had a return on equity of 7.98% and a net margin of 20.02%. The company had revenue of $88.73 million during the quarter, compared to the consensus estimate of $91.68 million. equities research analysts anticipate that Union Bankshares will post 1.86 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, November 27th. Stockholders of record on Monday, November 13th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.30%. This is an increase from Union Bankshares’s previous quarterly dividend of $0.20. The ex-dividend date was Friday, November 10th. Union Bankshares’s dividend payout ratio is presently 46.67%.
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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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