BidaskClub Lowers Union Bankshares (UBSH) to Sell

BidaskClub cut shares of Union Bankshares (NASDAQ:UBSH) from a hold rating to a sell rating in a research report sent to investors on Thursday.

Other research analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Union Bankshares from a hold rating to a buy rating and set a $46.00 price target on the stock in a research note on Tuesday, September 4th. Barclays started coverage on shares of Union Bankshares in a research note on Friday, June 1st. They set an equal weight rating and a $44.00 price target on the stock. ValuEngine cut shares of Union Bankshares from a buy rating to a hold rating in a research note on Monday, June 11th. Brean Capital reiterated a hold rating on shares of Union Bankshares in a research note on Monday, August 27th. Finally, Raymond James lifted their price target on shares of Union Bankshares from $45.00 to $47.00 and gave the stock a strong-buy rating in a research note on Monday, August 20th. One analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Union Bankshares has a consensus rating of Hold and an average target price of $44.60.

Shares of UBSH stock opened at $40.75 on Thursday. Union Bankshares has a 12-month low of $31.17 and a 12-month high of $42.74. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market capitalization of $2.68 billion, a P/E ratio of 16.78 and a beta of 1.18.

Union Bankshares (NASDAQ:UBSH) last issued its earnings results on Wednesday, July 18th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.20. The company had revenue of $148.77 million for the quarter, compared to analysts’ expectations of $130.36 million. Union Bankshares had a net margin of 18.94% and a return on equity of 9.47%. equities analysts predict that Union Bankshares will post 2.77 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, August 17th. Stockholders of record on Friday, August 3rd were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.26%. The ex-dividend date was Thursday, August 2nd. This is a boost from Union Bankshares’s previous quarterly dividend of $0.21. Union Bankshares’s dividend payout ratio (DPR) is currently 48.17%.

In other news, Director G William Beale sold 1,000 shares of the firm’s stock in a transaction on Monday, August 20th. The shares were sold at an average price of $41.56, for a total transaction of $41,560.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Frederick Blair Wimbush acquired 1,200 shares of the firm’s stock in a transaction dated Tuesday, July 24th. The shares were purchased at an average price of $41.65 per share, for a total transaction of $49,980.00. Following the completion of the transaction, the director now directly owns 1,200 shares in the company, valued at $49,980. The disclosure for this purchase can be found here. Company insiders own 2.18% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. raised its position in shares of Union Bankshares by 151.8% during the 2nd quarter. Victory Capital Management Inc. now owns 434,290 shares of the financial services provider’s stock valued at $16,885,000 after purchasing an additional 261,838 shares during the period. Pitcairn Co. raised its position in shares of Union Bankshares by 24.4% during the 1st quarter. Pitcairn Co. now owns 13,522 shares of the financial services provider’s stock valued at $497,000 after purchasing an additional 2,651 shares during the period. Xact Kapitalforvaltning AB raised its position in shares of Union Bankshares by 21.2% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 12,016 shares of the financial services provider’s stock valued at $467,000 after purchasing an additional 2,100 shares during the period. Apollo Management Holdings L.P. bought a new stake in shares of Union Bankshares during the 2nd quarter valued at $2,439,000. Finally, Russell Investments Group Ltd. raised its position in shares of Union Bankshares by 148.6% during the 1st quarter. Russell Investments Group Ltd. now owns 28,423 shares of the financial services provider’s stock valued at $1,044,000 after purchasing an additional 16,991 shares during the period. Hedge funds and other institutional investors own 75.82% 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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Analyst Recommendations for Union Bankshares (NASDAQ:UBSH)

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