Union Bankshares (UBSH) Upgraded by Zacks Investment Research to “Hold”

Zacks Investment Research upgraded shares of Union Bankshares (NASDAQ:UBSH) from a sell rating to a hold rating in a report released on Wednesday.

According to Zacks, “Union Bankshares Corporation is the holding company for Union First Market Bank. The Company operates through two segments, Community Bank and Mortgage. The Banks offer a wide range of banking and related financial services including checking, savings, certificates of deposit and other depository services, discount brokerage services, and a variety of loans. It provides credit cards, automated teller machine services, Internet banking services, and online bill payment services, as well as private banking and trust services to individuals and corporations. Union Bankshares Corporation, formerly Union First Market Bankshares Corporation, is headquartered in Richmond, Virginia. “

A number of other brokerages have also issued reports on UBSH. ValuEngine lowered Union Bankshares from a buy rating to a hold rating in a research report on Tuesday, October 10th. Brean Capital reaffirmed a hold rating on shares of Union Bankshares in a research report on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $39.33.

Union Bankshares (NASDAQ UBSH) opened at $36.74 on Wednesday. Union Bankshares has a one year low of $29.50 and a one year high of $39.37. The company has a market capitalization of $1,610.00, a PE ratio of 20.41 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.

Union Bankshares (NASDAQ:UBSH) last announced its earnings results on Wednesday, October 18th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.49. Union Bankshares had a return on equity of 7.98% and a net margin of 20.02%. The business had revenue of $88.73 million for the quarter, compared to analyst estimates of $91.68 million. sell-side analysts expect that Union Bankshares will post 1.86 EPS for the current year.

In other news, EVP John G. Jr. Stallings acquired 1,373 shares of the stock in a transaction that occurred on Thursday, December 14th. The stock was purchased at an average cost of $36.22 per share, with a total value of $49,730.06. Following the completion of the acquisition, the executive vice president now directly owns 9,582 shares in the company, valued at $347,060.04. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.18% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its holdings in Union Bankshares by 0.3% in the third quarter. Dimensional Fund Advisors LP now owns 3,677,853 shares of the financial services provider’s stock valued at $129,827,000 after buying an additional 11,030 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Union Bankshares by 2.0% during the second quarter. BlackRock Inc. now owns 3,166,543 shares of the financial services provider’s stock valued at $107,346,000 after purchasing an additional 60,728 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of 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 valued at $70,737,000 after purchasing an additional 9,494 shares during the last quarter. Bank of New York Mellon Corp grew its holdings 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 purchasing an additional 671,092 shares during the last quarter. Finally, Northern Trust Corp grew its holdings 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 purchasing an additional 16,918 shares during the last quarter. 64.54% of the stock is owned by hedge funds and other institutional investors.

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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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