Union Bankshares (UBSH) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of Union Bankshares (NASDAQ:UBSH) from a sell rating to a hold rating in a research note published on Wednesday morning.

According to Zacks, “Union Bankshares Corporation is the holding company for Union First Market Bank. The Company operates through two segments, Community Bank and Mortgage. The Banks offer a wide range of banking and related financial services including checking, savings, certificates of deposit and other depository services, discount brokerage services, and a variety of loans. It provides credit cards, automated teller machine services, Internet banking services, and online bill payment services, as well as private banking and trust services to individuals and corporations. Union Bankshares Corporation, formerly Union First Market Bankshares Corporation, is headquartered in Richmond, Virginia. “

How to Become a New Pot Stock Millionaire

Several other equities analysts also recently weighed in on UBSH. BidaskClub raised Union Bankshares from a sell rating to a hold rating in a research report on Thursday, January 11th. Sandler O’Neill set a $39.00 target price on Union Bankshares and gave the company a hold rating in a research report on Thursday, January 4th. Brean Capital reaffirmed a hold rating on shares of Union Bankshares in a research report on Tuesday, January 2nd. Finally, Merion Capital Group lifted their target price on Union Bankshares from $45.00 to $47.00 and gave the company an outperform rating in a research report on Wednesday, January 24th. Five investment analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $41.80.

Shares of NASDAQ:UBSH opened at $36.71 on Wednesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a market cap of $2,417.17, a P/E ratio of 19.22 and a beta of 1.17. Union Bankshares has a 12-month low of $29.50 and a 12-month high of $39.80.

Union Bankshares (NASDAQ:UBSH) last released its earnings results on Tuesday, January 23rd. The financial services provider reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.01. The company had revenue of $90.64 million during the quarter, compared to the consensus estimate of $91.35 million. Union Bankshares had a return on equity of 8.09% and a net margin of 18.15%. sell-side analysts forecast that Union Bankshares will post 2.51 EPS for the current year.

In other Union Bankshares news, Director G William Beale sold 32,064 shares of Union Bankshares stock in a transaction dated Tuesday, March 13th. The stock was sold at an average price of $39.67, for a total value of $1,271,978.88. Following the completion of the transaction, the director now directly owns 84,333 shares of the company’s stock, valued at approximately $3,345,490.11. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 2.18% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in UBSH. US Bancorp DE boosted its stake in shares of Union Bankshares by 101.5% in the 4th quarter. US Bancorp DE now owns 4,263 shares of the financial services provider’s stock valued at $154,000 after buying an additional 2,147 shares during the period. Virtu Financial LLC purchased a new position in shares of Union Bankshares in the 4th quarter valued at about $201,000. BB&T Securities LLC purchased a new position in shares of Union Bankshares in the 4th quarter valued at about $205,000. Amalgamated Bank purchased a new position in shares of Union Bankshares in the 4th quarter valued at about $209,000. Finally, Canal Capital Management LLC purchased a new position in shares of Union Bankshares in the 4th quarter valued at about $238,000. Institutional investors and hedge funds own 47.49% of the company’s stock.

TRADEMARK VIOLATION WARNING: This report was originally published by WKRB News and is owned by of WKRB News. If you are viewing this report on another website, it was illegally stolen and republished in violation of US and international trademark & copyright laws. The original version of this report can be accessed at https://www.wkrb13.com/2018/04/01/union-bankshares-ubsh-upgraded-to-hold-by-zacks-investment-research.html.

About Union Bankshares

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.

Get a free copy of the Zacks research report on Union Bankshares (UBSH)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Union Bankshares (NASDAQ:UBSH)

Receive News & Ratings for Union Bankshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Union Bankshares and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply