Rhumbline Advisers grew its holdings in Union Bankshares Corp (NASDAQ:UBSH) by 17.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,518 shares of the financial services provider’s stock after purchasing an additional 10,216 shares during the quarter. Rhumbline Advisers owned about 0.10% of Union Bankshares worth $2,625,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in the company. Ladenburg Thalmann Financial Services Inc. lifted its stake in shares of Union Bankshares by 67.0% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,490 shares of the financial services provider’s stock valued at $128,000 after purchasing an additional 1,400 shares during the period. Amalgamated Bank lifted its stake in shares of Union Bankshares by 20.9% in the 2nd quarter. Amalgamated Bank now owns 8,934 shares of the financial services provider’s stock valued at $347,000 after purchasing an additional 1,546 shares during the period. Virginia Retirement Systems ET AL lifted its stake in shares of Union Bankshares by 7.6% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 28,151 shares of the financial services provider’s stock valued at $1,095,000 after purchasing an additional 2,000 shares during the period. Xact Kapitalforvaltning AB lifted its stake in shares of Union Bankshares by 21.2% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 12,016 shares of the financial services provider’s stock valued at $467,000 after purchasing an additional 2,100 shares during the period. Finally, Koch Industries Inc. lifted its stake in shares of Union Bankshares by 24.1% in the 1st quarter. Koch Industries Inc. now owns 12,442 shares of the financial services provider’s stock valued at $457,000 after purchasing an additional 2,419 shares during the period. 75.82% of the stock is currently owned by institutional investors.
Shares of Union Bankshares stock opened at $41.69 on Tuesday. Union Bankshares Corp has a one year low of $31.00 and a one year high of $42.74. The stock has a market capitalization of $2.76 billion, a P/E ratio of 17.26 and a beta of 1.18. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.93 and a quick ratio of 0.93.
Union Bankshares (NASDAQ:UBSH) last issued its earnings results on Wednesday, July 18th. The financial services provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.20. Union Bankshares had a return on equity of 9.47% and a net margin of 18.94%. The business had revenue of $148.77 million during the quarter, compared to analyst estimates of $130.36 million. analysts expect that Union Bankshares Corp will post 2.77 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, August 17th. Investors of record on Friday, August 3rd were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.21%. This is a positive change from Union Bankshares’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Thursday, August 2nd. Union Bankshares’s payout ratio is presently 48.17%.
A number of brokerages have recently issued reports on UBSH. Zacks Investment Research raised Union Bankshares from a “sell” rating to a “hold” rating in a research note on Friday, August 10th. ValuEngine downgraded Union Bankshares from a “buy” rating to a “hold” rating in a research note on Monday, June 11th. BidaskClub downgraded Union Bankshares from a “hold” rating to a “sell” rating in a research note on Friday, July 13th. Brean Capital reissued a “hold” rating on shares of Union Bankshares in a research note on Monday, August 6th. Finally, Raymond James boosted their price objective on Union Bankshares from $45.00 to $47.00 and gave the company a “strong-buy” rating in a research note on Monday, August 20th. Five research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Union Bankshares presently has an average rating of “Buy” and an average target price of $44.60.
In related news, Director G William Beale sold 1,000 shares of the business’s stock in a transaction dated Monday, August 20th. The stock was sold at an average price of $41.56, for a total value of $41,560.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frederick Blair Wimbush bought 1,200 shares of the firm’s stock in a transaction that occurred on Tuesday, July 24th. The stock was purchased at an average cost of $41.65 per share, with a total value of $49,980.00. Following the completion of the transaction, the director now directly owns 1,200 shares in the company, valued at $49,980. The disclosure for this purchase can be found here. Insiders own 1.64% of the company’s stock.
Union Bankshares Company Profile
Union Bankshares Corporation operates as the bank holding company for Union Bank & Trust that provides banking and related financial services to consumers and businesses. The company operates in two segments, Community Bank and Mortgage. It accepts various deposit products, including checking, savings, NOW, time deposit, and money market accounts, as well as certificates of deposit and other depository services.
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