PNC Financial Services Group Inc. Reduces Position in Union Bankshares Corporation (NASDAQ:UBSH)

PNC Financial Services Group Inc. decreased its stake in shares of Union Bankshares Corporation (NASDAQ:UBSH) by 2.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,800 shares of the financial services provider’s stock after selling 107 shares during the period. PNC Financial Services Group Inc.’s holdings in Union Bankshares Corporation were worth $134,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of UBSH. Teachers Advisors LLC boosted its position in shares of Union Bankshares Corporation by 306.9% in the first quarter. Teachers Advisors LLC now owns 399,241 shares of the financial services provider’s stock valued at $14,045,000 after buying an additional 301,117 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of Union Bankshares Corporation by 117.6% in the first quarter. Nordea Investment Management AB now owns 153,400 shares of the financial services provider’s stock valued at $5,397,000 after buying an additional 82,900 shares in the last quarter. ClariVest Asset Management LLC boosted its position in shares of Union Bankshares Corporation by 117.6% in the first quarter. ClariVest Asset Management LLC now owns 153,400 shares of the financial services provider’s stock valued at $5,397,000 after buying an additional 82,900 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Union Bankshares Corporation by 17.5% in the first quarter. Principal Financial Group Inc. now owns 411,966 shares of the financial services provider’s stock valued at $14,494,000 after buying an additional 61,460 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Union Bankshares Corporation by 7.5% in the fourth quarter. State Street Corp now owns 853,268 shares of the financial services provider’s stock valued at $30,497,000 after buying an additional 59,629 shares in the last quarter. 60.57% of the stock is owned by institutional investors.

Shares of Union Bankshares Corporation (NASDAQ:UBSH) opened at 31.13 on Friday. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of 17.35 and a beta of 1.23. The firm’s 50-day moving average is $32.62 and its 200 day moving average is $34.46. Union Bankshares Corporation has a 12 month low of $26.13 and a 12 month high of $39.37.

Union Bankshares Corporation (NASDAQ:UBSH) last announced its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.46. Union Bankshares Corporation had a net margin of 20.42% and a return on equity of 7.97%. The business had revenue of $87.06 million during the quarter, compared to analyst estimates of $89.67 million. Equities analysts expect that Union Bankshares Corporation will post $1.86 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 18th. Shareholders of record on Friday, August 4th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend is Wednesday, August 2nd. Union Bankshares Corporation’s dividend payout ratio (DPR) is currently 44.44%.

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Several equities analysts recently commented on UBSH shares. Raymond James Financial, Inc. raised shares of Union Bankshares Corporation from an “outperform” rating to a “strong-buy” rating in a research note on Wednesday, May 24th. Keefe, Bruyette & Woods raised shares of Union Bankshares Corporation from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $37.00 to $38.00 in a research note on Tuesday, May 23rd. BidaskClub raised shares of Union Bankshares Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. ValuEngine raised shares of Union Bankshares Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 16th. Finally, Zacks Investment Research cut shares of Union Bankshares Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Two research analysts have rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the stock. Union Bankshares Corporation presently has an average rating of “Buy” and an average target price of $39.25.

Union Bankshares Corporation 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.

Institutional Ownership by Quarter for Union Bankshares Corporation (NASDAQ:UBSH)

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