Union Bankshares (UBSH) Sets New 1-Year Low at $31.71

Union Bankshares Corp (NASDAQ:UBSH)’s share price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $31.71 and last traded at $32.24, with a volume of 14311 shares changing hands. The stock had previously closed at $32.70.

UBSH has been the topic of several recent analyst reports. Compass Point downgraded shares of Union Bankshares from a “buy” rating to a “hold” rating and set a $41.00 price objective on the stock. in a report on Sunday, October 7th. BidaskClub downgraded shares of Union Bankshares from a “sell” rating to a “strong sell” rating in a report on Friday, October 19th. Brean Capital set a $42.00 price objective on shares of Union Bankshares and gave the company a “buy” rating in a report on Friday, November 16th. Zacks Investment Research downgraded shares of Union Bankshares from a “strong-buy” rating to a “hold” rating in a report on Friday, October 12th. Finally, Sandler O’Neill raised shares of Union Bankshares from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a report on Thursday, October 18th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Union Bankshares presently has a consensus rating of “Buy” and a consensus target price of $44.14.

The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $2.15 billion, a price-to-earnings ratio of 16.90 and a beta of 1.22.

Union Bankshares (NASDAQ:UBSH) last posted its quarterly earnings results on Wednesday, October 17th. The financial services provider reported $0.61 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by ($0.03). The business had revenue of $125.85 million during the quarter, compared to analysts’ expectations of $132.49 million. Union Bankshares had a return on equity of 9.36% and a net margin of 20.38%. As a group, analysts anticipate that Union Bankshares Corp will post 2.66 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, November 23rd. Stockholders of record on Friday, November 9th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend was Thursday, November 8th. Union Bankshares’s dividend payout ratio is currently 48.17%.

In other news, Director G William Beale sold 1,000 shares of the firm’s stock in a transaction dated Thursday, September 20th. The shares were sold at an average price of $40.45, for a total value of $40,450.00. Following the transaction, the director now directly owns 100,462 shares of the company’s stock, valued at $4,063,687.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.18% of the company’s stock.

Several large investors have recently bought and sold shares of UBSH. Vanguard Group Inc. increased its position in shares of Union Bankshares by 1.5% during the third quarter. Vanguard Group Inc. now owns 5,459,050 shares of the financial services provider’s stock valued at $210,337,000 after acquiring an additional 78,828 shares during the last quarter. Legal & General Group Plc increased its position in shares of Union Bankshares by 13.9% during the third quarter. Legal & General Group Plc now owns 24,076 shares of the financial services provider’s stock valued at $927,000 after acquiring an additional 2,933 shares during the last quarter. Teachers Advisors LLC increased its position in shares of Union Bankshares by 2.5% during the third quarter. Teachers Advisors LLC now owns 138,484 shares of the financial services provider’s stock valued at $5,336,000 after acquiring an additional 3,341 shares during the last quarter. Resources Management Corp CT ADV acquired a new stake in shares of Union Bankshares during the third quarter valued at about $288,000. Finally, Glenmede Trust Co. NA increased its position in shares of Union Bankshares by 40.6% during the third quarter. Glenmede Trust Co. NA now owns 17,379 shares of the financial services provider’s stock valued at $669,000 after acquiring an additional 5,020 shares during the last quarter. 77.45% of the stock is currently owned by hedge funds and other institutional investors.

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Union Bankshares Company Profile (NASDAQ:UBSH)

Union Bankshares Corporation operates as the bank holding company for Union Bank & Trust that provides banking and related financial services to consumers and businesses. The company operates in two segments, Community Bank and Mortgage. It accepts various deposit products, including checking, savings, NOW, time deposit, and money market accounts, as well as certificates of deposit and other depository services.

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