Union Bankshares Corp (UBSH) Position Reduced by Legal & General Group Plc

Legal & General Group Plc reduced its position in shares of Union Bankshares Corp (NASDAQ:UBSH) by 24.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 21,143 shares of the financial services provider’s stock after selling 6,690 shares during the quarter. Legal & General Group Plc’s holdings in Union Bankshares were worth $822,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of UBSH. Wells Fargo & Company MN increased its position in Union Bankshares by 12.2% during the 1st quarter. Wells Fargo & Company MN now owns 235,887 shares of the financial services provider’s stock valued at $8,659,000 after purchasing an additional 25,685 shares during the period. SG Americas Securities LLC purchased a new position in Union Bankshares during the 1st quarter valued at $166,000. Prudential Financial Inc. purchased a new position in Union Bankshares during the 1st quarter valued at $234,000. Schwab Charles Investment Management Inc. increased its position in Union Bankshares by 31.1% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 329,779 shares of the financial services provider’s stock valued at $12,107,000 after purchasing an additional 78,231 shares during the period. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in Union Bankshares during the 1st quarter valued at $265,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

UBSH has been the topic of a number of research analyst reports. ValuEngine downgraded shares of Union Bankshares from a “buy” rating to a “hold” rating in a research report on Monday, June 11th. BidaskClub downgraded shares of Union Bankshares from a “buy” rating to a “hold” rating in a research report on Wednesday, June 13th. Zacks Investment Research downgraded shares of Union Bankshares from a “hold” rating to a “sell” rating in a research report on Saturday, July 7th. Brean Capital reissued a “hold” rating on shares of Union Bankshares in a research report on Monday, July 30th. Finally, Raymond James boosted their price objective on shares of Union Bankshares from $45.00 to $47.00 and gave the company a “strong-buy” rating in a research report on Monday, August 20th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $44.00.

NASDAQ:UBSH opened at $38.92 on Tuesday. The stock has a market capitalization of $2.54 billion, a PE ratio of 20.38 and a beta of 1.17. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.27. Union Bankshares Corp has a 1-year low of $31.77 and a 1-year high of $42.74.

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

In other Union Bankshares news, Director Frederick Blair Wimbush bought 1,200 shares of Union Bankshares stock in a transaction dated Tuesday, July 24th. The shares were purchased at an average cost of $41.65 per share, with a total value of $49,980.00. Following the transaction, the director now directly owns 1,200 shares of the company’s stock, valued at $49,980. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director G William Beale sold 1,000 shares of the company’s stock in a transaction dated Thursday, September 20th. The stock was sold at an average price of $40.45, for a total transaction of $40,450.00. Following the completion of the sale, the director now directly owns 100,462 shares in the company, valued at $4,063,687.90. The disclosure for this sale can be found here. Insiders sold a total of 3,000 shares of company stock worth $122,150 over the last ninety days. Insiders own 1.64% of the company’s stock.

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

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