Russell Investments Group Ltd. reduced its position in shares of Union Bankshares Corp (NASDAQ:UBSH) by 57.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 61,273 shares of the financial services provider’s stock after selling 83,650 shares during the period. Russell Investments Group Ltd. owned 0.14% of Union Bankshares worth $2,163,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its position in Union Bankshares by 4.2% during the second quarter. Dimensional Fund Advisors LP now owns 3,666,823 shares of the financial services provider’s stock worth $124,306,000 after purchasing an additional 146,885 shares during the last quarter. BlackRock Inc. increased its position in Union Bankshares by 2.0% during the second quarter. BlackRock Inc. now owns 3,166,543 shares of the financial services provider’s stock worth $107,346,000 after purchasing an additional 60,728 shares during the last quarter. Vanguard Group Inc. increased its position in Union Bankshares by 0.5% during the second quarter. Vanguard Group Inc. now owns 2,086,617 shares of the financial services provider’s stock worth $70,737,000 after purchasing an additional 9,494 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Union Bankshares by 59.8% during the third quarter. Bank of New York Mellon Corp now owns 1,792,680 shares of the financial services provider’s stock valued at $63,282,000 after acquiring an additional 671,092 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Union Bankshares by 1.2% during the second quarter. Northern Trust Corp now owns 1,387,345 shares of the financial services provider’s stock valued at $47,031,000 after acquiring an additional 16,918 shares during the last quarter. Hedge funds and other institutional investors own 64.54% of the company’s stock.
Shares of Union Bankshares Corp (NASDAQ:UBSH) opened at $36.87 on Friday. Union Bankshares Corp has a 12-month low of $29.50 and a 12-month high of $39.37. The firm has a market cap of $1,622.46, a PE ratio of 19.84 and a beta of 1.27. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.94 and a current ratio of 0.94.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 27th. Stockholders of record on Monday, November 13th were paid a $0.21 dividend. This is a positive change from Union Bankshares’s previous quarterly dividend of $0.20. The ex-dividend date was Friday, November 10th. This represents a $0.84 annualized dividend and a dividend yield of 2.28%. Union Bankshares’s dividend payout ratio (DPR) is presently 46.67%.
In other Union Bankshares news, EVP John G. Jr. Stallings acquired 1,373 shares of the stock in a transaction dated Thursday, December 14th. The stock was acquired at an average price of $36.22 per share, with a total value of $49,730.06. Following the completion of the purchase, the executive vice president now owns 9,582 shares in the company, valued at approximately $347,060.04. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.18% of the company’s stock.
A number of equities research analysts have weighed in on UBSH shares. Brean Capital reiterated a “hold” rating on shares of Union Bankshares in a research report on Tuesday, October 24th. Zacks Investment Research cut shares of Union Bankshares from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, ValuEngine cut shares of Union Bankshares from a “buy” rating to a “hold” rating in a research report on Tuesday, October 10th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and two have issued a strong buy rating to the stock. Union Bankshares currently has a consensus rating of “Buy” and an average target price of $39.33.
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Union Bankshares 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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