Union Bankshares (NASDAQ:UBSH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” 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 equities analysts have also recently commented on the stock. Brean Capital reaffirmed a “hold” rating on shares of Union Bankshares in a research report on Monday, February 5th. Merion Capital Group lifted their price objective on shares of Union Bankshares from $45.00 to $47.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. BidaskClub cut shares of Union Bankshares from a “hold” rating to a “sell” rating in a research report on Wednesday, January 3rd. Finally, Sandler O’Neill set a $39.00 price objective on shares of Union Bankshares and gave the stock a “hold” rating in a research report on Thursday, January 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned 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 an average price target of $41.80.
Union Bankshares (NASDAQ:UBSH) last released its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $0.52 EPS for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.01. Union Bankshares had a net margin of 18.15% and a return on equity of 8.09%. The firm had revenue of $90.64 million during the quarter, compared to analysts’ expectations of $91.35 million. research analysts expect that Union Bankshares will post 2.51 EPS for the current fiscal year.
In other Union Bankshares news, EVP John G. Jr. Stallings bought 1,373 shares of Union Bankshares stock in a transaction dated Thursday, December 14th. The stock was 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 owns 9,582 shares in the company, valued at approximately $347,060.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.18% of the company’s stock.
Several institutional investors have recently made changes to their positions in UBSH. Bank of New York Mellon Corp boosted its position in shares of Union Bankshares by 59.8% in the third 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 acquiring an additional 671,092 shares during the period. Janus Henderson Group PLC bought a new stake in shares of Union Bankshares in the third quarter valued at about $21,259,000. Tributary Capital Management LLC acquired a new position in Union Bankshares in the fourth quarter valued at about $15,187,000. Phocas Financial Corp. acquired a new position in Union Bankshares in the fourth quarter valued at about $5,314,000. Finally, Geode Capital Management LLC raised its stake in Union Bankshares by 24.9% in the fourth quarter. Geode Capital Management LLC now owns 496,304 shares of the financial services provider’s stock valued at $17,951,000 after purchasing an additional 98,920 shares in the last quarter. 47.60% of the stock is 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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