Union Bankshares (UBSH) Downgraded by Zacks Investment Research to “Hold”

Union Bankshares (NASDAQ:UBSH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released 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 brokerages have also recently commented on UBSH. Brean Capital reissued a “hold” rating on shares of Union Bankshares in a research note on Tuesday, October 24th. BidaskClub cut Union Bankshares from a “hold” rating to a “sell” rating in a research note on Wednesday, January 3rd. Sandler O’Neill set a $39.00 price objective on Union Bankshares and gave the company a “hold” rating in a research note on Thursday, January 4th. Finally, Merion Capital Group raised their price objective on Union Bankshares from $45.00 to $47.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Five research analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $41.80.

Shares of Union Bankshares (NASDAQ:UBSH) traded up $0.35 during mid-day trading on Wednesday, reaching $37.07. The company’s stock had a trading volume of 346,600 shares, compared to its average volume of 456,638. The company has a market capitalization of $2,413.39, a P/E ratio of 22.20 and a beta of 1.21. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.94 and a current ratio of 0.94. Union Bankshares has a 1-year low of $29.50 and a 1-year high of $39.37.

Union Bankshares (NASDAQ:UBSH) last issued its earnings results on Tuesday, January 23rd. The financial services provider reported $0.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.01. The business had revenue of $90.64 million during the quarter, compared to the consensus estimate of $91.35 million. Union Bankshares had a return on equity of 8.12% and a net margin of 18.15%. research analysts predict that Union Bankshares will post 2.51 EPS for the current year.

In related news, EVP John G. Jr. Stallings bought 1,373 shares of the business’s stock in a transaction that occurred on Thursday, December 14th. The shares were bought at an average price of $36.22 per share, with a total value of $49,730.06. Following the completion of the transaction, the executive vice president now directly owns 9,582 shares in the company, valued at $347,060.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.18% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its position in Union Bankshares by 0.3% in the third quarter. Dimensional Fund Advisors LP now owns 3,677,853 shares of the financial services provider’s stock worth $129,827,000 after purchasing an additional 11,030 shares during the last quarter. BlackRock Inc. boosted its position in Union Bankshares by 2.0% in the second quarter. BlackRock Inc. now owns 3,166,543 shares of the financial services provider’s stock worth $107,346,000 after purchasing an additional 60,728 shares during the last quarter. Vanguard Group Inc. boosted its position in Union Bankshares by 0.5% in the second quarter. Vanguard Group Inc. now owns 2,086,617 shares of the financial services provider’s stock worth $70,737,000 after purchasing an additional 9,494 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Union Bankshares by 13.7% in the fourth quarter. Bank of New York Mellon Corp now owns 2,037,942 shares of the financial services provider’s stock worth $73,712,000 after purchasing an additional 245,262 shares during the last quarter. Finally, State Street Corp boosted its position in Union Bankshares by 6.7% in the second quarter. State Street Corp now owns 905,668 shares of the financial services provider’s stock worth $30,697,000 after purchasing an additional 57,265 shares during the last quarter. 64.98% of the stock is currently owned by institutional investors.

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Union Bankshares Company 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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