Union Bankshares Corp (NASDAQ:UBSH) has been given an average recommendation of “Hold” by the seven ratings firms that are covering the firm, Marketbeat reports. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $43.33.
A number of brokerages have issued reports on UBSH. ValuEngine lowered shares of Union Bankshares from a “buy” rating to a “hold” rating in a report on Monday, June 11th. BidaskClub raised shares of Union Bankshares from a “hold” rating to a “buy” rating in a report on Saturday, June 23rd. Barclays began coverage on shares of Union Bankshares in a report on Friday, June 1st. They set an “equal weight” rating and a $44.00 price objective for the company. Zacks Investment Research lowered shares of Union Bankshares from a “hold” rating to a “sell” rating in a report on Wednesday, March 14th. Finally, Brean Capital reaffirmed a “hold” rating on shares of Union Bankshares in a report on Thursday, May 3rd.
A number of institutional investors and hedge funds have recently made changes to their positions in UBSH. BlackRock Inc. grew its holdings in shares of Union Bankshares by 22.2% in the first quarter. BlackRock Inc. now owns 3,582,416 shares of the financial services provider’s stock valued at $131,511,000 after purchasing an additional 652,010 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Union Bankshares by 67.5% in the first quarter. The Manufacturers Life Insurance Company now owns 1,384,052 shares of the financial services provider’s stock valued at $50,808,000 after purchasing an additional 557,773 shares in the last quarter. Denver Investment Advisors LLC purchased a new position in shares of Union Bankshares in the first quarter valued at $17,138,000. Wedge Capital Management L L P NC purchased a new position in shares of Union Bankshares in the first quarter valued at $16,138,000. Finally, Banc Funds Co. LLC grew its holdings in shares of Union Bankshares by 86.8% in the first quarter. Banc Funds Co. LLC now owns 659,642 shares of the financial services provider’s stock valued at $24,215,000 after purchasing an additional 306,441 shares in the last quarter. 68.34% of the stock is owned by institutional investors and hedge funds.
Union Bankshares traded up $0.23, hitting $39.75, during midday trading on Friday, Marketbeat reports. The stock had a trading volume of 333,300 shares, compared to its average volume of 473,664. The firm has a market capitalization of $2.60 billion, a price-to-earnings ratio of 20.81 and a beta of 1.19. Union Bankshares has a 52-week low of $30.45 and a 52-week high of $42.60. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.26.
Union Bankshares (NASDAQ:UBSH) last released its earnings results on Tuesday, April 24th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.05. Union Bankshares had a net margin of 15.54% and a return on equity of 8.35%. The company had revenue of $126.06 million during the quarter, compared to analyst estimates of $122.73 million. analysts predict that Union Bankshares will post 2.58 EPS for the current year.
About Union Bankshares
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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