Monarch Partners Asset Management LLC cut its stake in Union Bankshares Corporation (NYSE:AUB) by 53.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 129,208 shares of the company’s stock after selling 146,430 shares during the period. Monarch Partners Asset Management LLC owned 0.16% of Union Bankshares worth $4,812,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Salomon & Ludwin LLC bought a new position in shares of Union Bankshares in the second quarter worth about $26,000. Capital Investment Advisory Services LLC bought a new position in shares of Union Bankshares in the second quarter worth about $27,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Union Bankshares during the second quarter worth approximately $27,000. Panagora Asset Management Inc. bought a new stake in shares of Union Bankshares during the second quarter worth approximately $32,000. Finally, Signaturefd LLC bought a new stake in shares of Union Bankshares during the second quarter worth approximately $47,000.
In related news, Director Ronald L. Tillett sold 1,300 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $37.85, for a total transaction of $49,205.00.
Shares of AUB traded up $0.03 on Friday, reaching $38.42. 149,769 shares of the company’s stock were exchanged, compared to its average volume of 304,191. The stock’s 50 day simple moving average is $37.42. Union Bankshares Corporation has a 12 month low of $26.48 and a 12 month high of $40.20.
Union Bankshares (NYSE:AUB) last posted its quarterly earnings results on Thursday, October 17th. The company reported $0.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.18. The business had revenue of $184.71 million for the quarter, compared to the consensus estimate of $167.10 million.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date is Thursday, November 7th.
A number of equities research analysts recently weighed in on AUB shares. Zacks Investment Research downgraded shares of Union Bankshares from a “hold” rating to a “sell” rating in a research note on Tuesday, September 17th. Keefe, Bruyette & Woods downgraded shares of Union Bankshares from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $40.00 to $37.00 in a research note on Thursday, September 5th. Boenning Scattergood reissued a “hold” rating on shares of Union Bankshares in a research note on Friday, July 19th. Sandler O’Neill downgraded shares of Union Bankshares from a “buy” rating to a “hold” rating in a research note on Wednesday, September 25th. They noted that the move was a valuation call. Finally, Raymond James raised shares of Union Bankshares from an “outperform” rating to a “strong-buy” rating in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $38.50.
Union Bankshares Company Profile
Atlantic Union Bankshares Corporation operates as the holding company for Atlantic Union Bank that provides banking and related financial services to consumers and businesses. 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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