Zacks: Analysts Expect Union Bankshares Corp (UBSH) to Post $0.51 EPS

Brokerages expect Union Bankshares Corp (NASDAQ:UBSH) to report earnings of $0.51 per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Union Bankshares’ earnings. Union Bankshares reported earnings per share of $0.48 during the same quarter last year, which indicates a positive year-over-year growth rate of 6.3%. The company is scheduled to announce its next earnings report on Tuesday, January 23rd.

On average, analysts expect that Union Bankshares will report full year earnings of $1.86 per share for the current year, with EPS estimates ranging from $1.82 to $1.88. For the next fiscal year, analysts anticipate that the firm will post earnings of $2.23 per share, with EPS estimates ranging from $2.15 to $2.30. Zacks’ EPS averages are an average based on a survey of analysts that cover Union Bankshares.

Union Bankshares (NASDAQ:UBSH) last posted its earnings results on Wednesday, October 18th. The financial services provider reported $0.49 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.49. The firm had revenue of $88.73 million for the quarter, compared to analyst estimates of $91.68 million. Union Bankshares had a return on equity of 7.98% and a net margin of 20.02%.

Several research firms recently issued reports on UBSH. Brean Capital reiterated a “hold” rating on shares of Union Bankshares in a report on Tuesday, October 24th. Zacks Investment Research lowered Union Bankshares from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, ValuEngine lowered Union Bankshares from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $39.33.

In other news, EVP John G. Jr. Stallings bought 1,373 shares of the firm’s stock in a transaction dated Thursday, December 14th. The shares were bought at an average price of $36.22 per share, with a total value of $49,730.06. Following the completion of the transaction, the executive vice president now owns 9,582 shares of the company’s stock, valued at $347,060.04. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.18% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of UBSH. Bank of New York Mellon Corp lifted its stake in Union Bankshares by 267.9% during the second quarter. Bank of New York Mellon Corp now owns 1,121,588 shares of the financial services provider’s stock worth $38,022,000 after purchasing an additional 816,696 shares during the last quarter. Janus Henderson Group PLC bought a new stake in Union Bankshares during the third quarter worth $21,259,000. Eagle Asset Management Inc. bought a new stake in Union Bankshares during the second quarter worth $15,837,000. Dimensional Fund Advisors LP lifted its stake 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. Finally, Thrivent Financial For Lutherans lifted its stake in Union Bankshares by 509.7% during the second quarter. Thrivent Financial For Lutherans now owns 165,460 shares of the financial services provider’s stock worth $5,609,000 after purchasing an additional 138,320 shares during the last quarter. 64.54% of the stock is currently owned by institutional investors and hedge funds.

Shares of Union Bankshares (NASDAQ UBSH) opened at $37.17 on Friday. The company has a market capitalization of $1,630.00, a PE ratio of 20.65 and a beta of 1.27. Union Bankshares has a twelve month low of $29.50 and a twelve month high of $39.37. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.42.

The company also recently announced a quarterly dividend, which was paid on Monday, November 27th. Stockholders of record on Monday, November 13th were given a $0.21 dividend. This is an increase 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 2.26%. Union Bankshares’s dividend payout ratio is presently 46.67%.

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About Union Bankshares

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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