ClariVest Asset Management LLC Has $6.66 Million Position in Union Bankshares Corporation (UBSH)

ClariVest Asset Management LLC boosted its position in shares of Union Bankshares Corporation (NASDAQ:UBSH) by 28.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 196,500 shares of the financial services provider’s stock after buying an additional 43,100 shares during the period. ClariVest Asset Management LLC’s holdings in Union Bankshares Corporation were worth $6,662,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bronfman E.L. Rothschild L.P. boosted its position in Union Bankshares Corporation by 2.3% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 3,107 shares of the financial services provider’s stock worth $109,000 after buying an additional 70 shares during the period. Ameritas Investment Partners Inc. purchased a new position in Union Bankshares Corporation during the first quarter worth $122,000. 361 Capital LLC purchased a new position in Union Bankshares Corporation during the first quarter worth $204,000. Cornerstone Capital Management Holdings LLC. purchased a new position in Union Bankshares Corporation during the first quarter worth $207,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in Union Bankshares Corporation during the first quarter worth $222,000. Institutional investors and hedge funds own 62.73% of the company’s stock.

Union Bankshares Corporation (NASDAQ UBSH) opened at 31.13 on Monday. Union Bankshares Corporation has a 12-month low of $26.13 and a 12-month high of $39.37. The stock has a 50 day moving average of $32.62 and a 200-day moving average of $34.46. The company has a market capitalization of $1.36 billion, a PE ratio of 17.35 and a beta of 1.23.

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, hitting the consensus estimate of $0.46. Union Bankshares Corporation had a return on equity of 7.97% and a net margin of 20.42%. The business had revenue of $87.06 million for the quarter, compared to analyst estimates of $89.67 million. Equities analysts expect that Union Bankshares Corporation will post $1.86 earnings per share for the current year.

The firm 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. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date is Wednesday, August 2nd. Union Bankshares Corporation’s payout ratio is 44.44%.

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A number of research firms have weighed in 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 objective on the stock in a research report on Wednesday, May 24th. Brean Capital reiterated a “hold” rating on shares of Union Bankshares Corporation in a research report on Wednesday, August 2nd. BidaskClub cut shares of Union Bankshares Corporation from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 25th. Zacks Investment Research cut shares of Union Bankshares Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Finally, ValuEngine upgraded shares of Union Bankshares Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 16th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $39.25.

About Union Bankshares Corporation

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

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