Union Bankshares Corporation (UBSH) Receives $38.50 Average PT from Brokerages

Union Bankshares Corporation (NASDAQ:UBSH) has earned a consensus recommendation of “Buy” from the eight brokerages that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and two have given a strong buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $39.33.

A number of research firms have recently commented on UBSH. UBS AG upgraded shares of Union Bankshares Corporation from an “outperform” rating to a “strong-buy” rating and set a $41.00 price target on the stock in a report on Wednesday, May 24th. Brean Capital reiterated a “hold” rating on shares of Union Bankshares Corporation in a report on Wednesday, August 2nd. Zacks Investment Research cut shares of Union Bankshares Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. BidaskClub cut shares of Union Bankshares Corporation from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 25th. Finally, ValuEngine upgraded shares of Union Bankshares Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 16th.

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Shares of Union Bankshares Corporation (NASDAQ:UBSH) opened at 31.13 on Friday. The company’s 50-day moving average price is $32.62 and its 200 day moving average price is $34.46. The company has a market cap of $1.36 billion, a price-to-earnings ratio of 17.35 and a beta of 1.23. 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 posted its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.46 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.46. Union Bankshares Corporation had a net margin of 20.42% and a return on equity of 7.97%. The firm had revenue of $87.06 million for the quarter, compared to analysts’ expectations of $89.67 million. Equities analysts predict that Union Bankshares Corporation will post $1.86 earnings per share for the current year.

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

A number of hedge funds and other institutional investors have recently modified their holdings of UBSH. TFS Capital LLC bought a new position in shares of Union Bankshares Corporation during the first quarter worth $371,000. UBS Asset Management Americas Inc. increased its position in shares of Union Bankshares Corporation by 114.5% in the first quarter. UBS Asset Management Americas Inc. now owns 16,454 shares of the financial services provider’s stock worth $579,000 after buying an additional 8,783 shares during the period. Swiss National Bank increased its position in shares of Union Bankshares Corporation by 1.6% in the first quarter. Swiss National Bank now owns 71,958 shares of the financial services provider’s stock worth $2,531,000 after buying an additional 1,100 shares during the period. Bank of New York Mellon Corp increased its position in shares of Union Bankshares Corporation by 5.5% in the first quarter. Bank of New York Mellon Corp now owns 304,892 shares of the financial services provider’s stock worth $10,726,000 after buying an additional 15,940 shares during the period. Finally, Capital Fund Management S.A. bought a new position in shares of Union Bankshares Corporation during the first quarter worth $285,000. Institutional investors own 60.57% of the company’s stock.

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.

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