M&T Bank Corp held its stake in shares of Union Bankshares Corporation (NASDAQ:UBSH) during the first quarter, Holdings Channel reports. The institutional investor owned 8,645 shares of the financial services provider’s stock at the end of the first quarter. M&T Bank Corp’s holdings in Union Bankshares Corporation were worth $305,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Union Bankshares Corporation by 2.3% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 3,107 shares of the financial services provider’s stock worth $109,000 after buying an additional 70 shares in the last quarter. Ameritas Investment Partners Inc. bought a new stake in shares of Union Bankshares Corporation during the first quarter worth $122,000. 361 Capital LLC bought a new stake in shares of Union Bankshares Corporation during the first quarter worth $204,000. 1st Global Advisors Inc. boosted its stake in shares of Union Bankshares Corporation by 0.8% in the first quarter. 1st Global Advisors Inc. now owns 6,599 shares of the financial services provider’s stock worth $232,000 after buying an additional 52 shares in the last quarter. Finally, Capital Fund Management S.A. bought a new stake in shares of Union Bankshares Corporation during the first quarter worth $285,000. 60.17% of the stock is owned by institutional investors.

Institutional Ownership by Quarter for Union Bankshares Corporation (NASDAQ:UBSH)

Union Bankshares Corporation (UBSH) opened at 34.93 on Friday. The firm has a market cap of $1.53 billion, a PE ratio of 19.14 and a beta of 1.24. Union Bankshares Corporation has a 52-week low of $23.28 and a 52-week high of $39.37. The company’s 50 day moving average price is $33.86 and its 200 day moving average price is $35.10.

Union Bankshares Corporation (NASDAQ:UBSH) last issued its earnings results on Wednesday, April 19th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.01. Union Bankshares Corporation had a net margin of 21.26% and a return on equity of 7.95%. The business had revenue of $85.41 million during the quarter, compared to the consensus estimate of $86.10 million. Analysts predict that Union Bankshares Corporation will post $1.93 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 26th. Shareholders of record on Friday, May 12th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Wednesday, May 10th. This represents a $0.80 annualized dividend and a yield of 2.29%. Union Bankshares Corporation’s dividend payout ratio (DPR) is presently 43.72%.

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A number of analysts have weighed in on UBSH shares. ValuEngine raised Union Bankshares Corporation from a “hold” rating to a “buy” rating in a research report on Friday. BidaskClub raised Union Bankshares Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. Zacks Investment Research cut Union Bankshares Corporation from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 29th. Keefe, Bruyette & Woods raised Union Bankshares Corporation from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $37.00 to $38.00 in a research report on Tuesday, May 23rd. Finally, Raymond James Financial, Inc. raised Union Bankshares Corporation from an “outperform” rating to a “strong-buy” rating in a research report on Wednesday, May 24th. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $38.67.

Union Bankshares Corporation Company Profile

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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