Union Bankshares Corp Purchases 21,205 Shares of Union Bankshares Corp. (UBSH)
Union Bankshares Corp raised its stake in shares of Union Bankshares Corp. (NASDAQ:UBSH) by 11.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 214,730 shares of the financial services provider’s stock after buying an additional 21,205 shares during the period. Union Bankshares Corp. accounts for 2.2% of Union Bankshares Corp’s portfolio, making the stock its 8th largest position. Union Bankshares Corp’s holdings in Union Bankshares Corp. were worth $5,748,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of UBSH. Tower Research Capital LLC TRC boosted its stake in Union Bankshares Corp. by 1,747.0% in the second quarter. Tower Research Capital LLC TRC now owns 4,248 shares of the financial services provider’s stock valued at $105,000 after buying an additional 4,018 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Union Bankshares Corp. by 77.4% in the second quarter. Victory Capital Management Inc. now owns 4,668 shares of the financial services provider’s stock valued at $115,000 after buying an additional 2,036 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in Union Bankshares Corp. by 13.9% in the second quarter. Teacher Retirement System of Texas now owns 6,252 shares of the financial services provider’s stock valued at $154,000 after buying an additional 762 shares in the last quarter. Sullivan Bruyette Speros & Blaney Inc. purchased a new stake in Union Bankshares Corp. during the second quarter valued at about $273,000. Finally, KCG Holdings Inc. purchased a new stake in Union Bankshares Corp. during the second quarter valued at about $278,000. Hedge funds and other institutional investors own 58.49% of the company’s stock.
Union Bankshares Corp. (NASDAQ:UBSH) traded up 0.15% during midday trading on Tuesday, hitting $33.83. 142,203 shares of the company traded hands. The stock has a 50 day moving average price of $29.59 and a 200-day moving average price of $27.35. The company has a market cap of $1.47 billion, a PE ratio of 20.03 and a beta of 1.01. Union Bankshares Corp. has a 12-month low of $20.57 and a 12-month high of $34.41.
Union Bankshares Corp. (NASDAQ:UBSH) last issued its quarterly earnings results on Thursday, October 20th. The financial services provider reported $0.47 EPS for the quarter, topping the consensus estimate of $0.45 by $0.02. Union Bankshares Corp. had a net margin of 20.86% and a return on equity of 7.51%. Analysts expect that Union Bankshares Corp. will post $1.74 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, November 28th. Shareholders of record on Monday, November 14th were given a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, November 9th. This is a boost from Union Bankshares Corp.’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a yield of 2.37%. Union Bankshares Corp.’s payout ratio is 47.34%.
Several equities research analysts have issued reports on the stock. Compass Point reissued a “sell” rating on shares of Union Bankshares Corp. in a research report on Friday, November 18th. Zacks Investment Research cut shares of Union Bankshares Corp. from a “buy” rating to a “hold” rating in a research report on Saturday, September 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $28.00.
Union Bankshares Corp. Company Profile
Union Bankshares Corporation, formerly Union First Market Bankshares Corporation, is a financial holding company and a bank holding company. The Company offers financial services through its community bank subsidiary, Union Bank & Trust and three non-bank financial services affiliates. The Company’s non-bank financial services affiliates are Union Mortgage Group, Inc (UMG), Union Investment Services, Inc and Union Insurance Group, LLC.
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