Wells Fargo & Company MN Increases Stock Holdings in Union Bankshares Corporation (NYSE:AUB)

Wells Fargo & Company MN lifted its position in Union Bankshares Corporation (NYSE:AUB) by 21.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 343,284 shares of the company’s stock after buying an additional 60,750 shares during the quarter. Wells Fargo & Company MN owned approximately 0.44% of Union Bankshares worth $7,517,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in shares of Union Bankshares by 8.2% in the first quarter. Geode Capital Management LLC now owns 1,182,347 shares of the company’s stock worth $25,893,000 after buying an additional 89,530 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Union Bankshares by 14.4% in the first quarter. Janus Henderson Group PLC now owns 2,640,954 shares of the company’s stock worth $57,837,000 after buying an additional 331,857 shares in the last quarter. Deutsche Bank AG lifted its holdings in shares of Union Bankshares by 5.1% in the first quarter. Deutsche Bank AG now owns 31,967 shares of the company’s stock worth $700,000 after buying an additional 1,541 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Union Bankshares by 1.1% in the first quarter. Alliancebernstein L.P. now owns 121,940 shares of the company’s stock worth $2,670,000 after buying an additional 1,300 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in shares of Union Bankshares by 17.7% in the first quarter. Nuveen Asset Management LLC now owns 461,706 shares of the company’s stock worth $10,111,000 after buying an additional 69,410 shares in the last quarter.

Shares of AUB opened at $22.65 on Tuesday. The firm’s 50 day simple moving average is $22.72 and its 200 day simple moving average is $28.22. Union Bankshares Corporation has a 1-year low of $18.55 and a 1-year high of $40.20.

Union Bankshares (NYSE:AUB) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.39). The business had revenue of $163.92 million for the quarter, compared to analyst estimates of $161.75 million.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 20th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date was Tuesday, May 19th.

In other Union Bankshares news, Director Michael W. Clarke sold 2,000 shares of the stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $23.42, for a total transaction of $46,840.00. Following the transaction, the director now directly owns 530,979 shares in the company, valued at $12,435,528.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael W. Clarke sold 6,000 shares of the stock in a transaction that occurred on Friday, June 19th. The shares were sold at an average price of $23.60, for a total transaction of $141,600.00. Following the transaction, the director now owns 505,519 shares in the company, valued at $11,930,248.40. The disclosure for this sale can be found here. Insiders have sold 28,000 shares of company stock worth $673,500 over the last quarter.

A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Union Bankshares from a “hold” rating to a “sell” rating in a report on Tuesday, April 21st. Raymond James downgraded shares of Union Bankshares from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 29th. Compass Point downgraded shares of Union Bankshares from a “buy” rating to a “neutral” rating and set a $31.00 target price on the stock. in a research note on Wednesday, March 4th. Finally, Stephens raised shares of Union Bankshares from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, May 5th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. Union Bankshares currently has an average rating of “Hold” and an average price target of $37.50.

About Union Bankshares

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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Institutional Ownership by Quarter for Union Bankshares (NYSE:AUB)

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