Union Bankshares (UBSH) Now Covered by Analysts at Boenning Scattergood

Analysts at Boenning Scattergood initiated coverage on shares of Union Bankshares (NASDAQ:UBSH) in a report issued on Wednesday, The Fly reports. The brokerage set a “neutral” rating on the financial services provider’s stock.

Other research analysts also recently issued research reports about the company. Raymond James boosted their target price on Union Bankshares from $37.00 to $42.00 and gave the stock a “strong-buy” rating in a research note on Friday, March 15th. ValuEngine raised Union Bankshares from a “sell” rating to a “hold” rating in a research note on Tuesday, February 12th. Zacks Investment Research downgraded Union Bankshares from a “hold” rating to a “sell” rating in a research note on Saturday, January 19th. Brean Capital set a $40.00 target price on Union Bankshares and gave the stock a “buy” rating in a research note on Monday, December 31st. Finally, BidaskClub raised Union Bankshares from a “sell” rating to a “hold” rating in a research note on Friday, November 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $41.86.

UBSH stock opened at $34.54 on Wednesday. The stock has a market capitalization of $2.94 billion, a P/E ratio of 12.75 and a beta of 1.40. Union Bankshares has a 52 week low of $26.48 and a 52 week high of $42.74. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.90 and a quick ratio of 0.90.

Union Bankshares (NASDAQ:UBSH) last posted its quarterly earnings results on Tuesday, January 22nd. The financial services provider reported $0.70 EPS for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.02. The business had revenue of $132.58 million during the quarter, compared to the consensus estimate of $131.01 million. Union Bankshares had a return on equity of 9.52% and a net margin of 23.02%. On average, sell-side analysts predict that Union Bankshares will post 2.86 earnings per share for the current fiscal year.

Several large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in shares of Union Bankshares by 15.4% during the fourth quarter. Geode Capital Management LLC now owns 699,351 shares of the financial services provider’s stock worth $19,742,000 after purchasing an additional 93,430 shares during the last quarter. Norges Bank bought a new stake in shares of Union Bankshares during the fourth quarter worth about $20,025,000. FMR LLC grew its holdings in shares of Union Bankshares by 20.5% during the fourth quarter. FMR LLC now owns 1,364,604 shares of the financial services provider’s stock worth $38,523,000 after purchasing an additional 231,785 shares during the last quarter. Millennium Management LLC bought a new stake in shares of Union Bankshares during the fourth quarter worth about $2,205,000. Finally, Phocas Financial Corp. grew its holdings in shares of Union Bankshares by 56.5% during the fourth quarter. Phocas Financial Corp. now owns 439,616 shares of the financial services provider’s stock worth $12,410,000 after purchasing an additional 158,666 shares during the last quarter. Institutional investors own 61.08% of the company’s stock.

Union Bankshares Company Profile

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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The Fly

Analyst Recommendations for Union Bankshares (NASDAQ:UBSH)

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