Sterling Capital Management LLC purchased a new position in Union Bankshares Corp (NASDAQ:UBSH) in the third quarter, Holdings Channel reports. The fund purchased 8,450 shares of the financial services provider’s stock, valued at approximately $326,000.
A number of other institutional investors have also recently modified their holdings of UBSH. UBS Group AG lifted its stake in Union Bankshares by 128.5% in the first quarter. UBS Group AG now owns 26,071 shares of the financial services provider’s stock worth $958,000 after acquiring an additional 14,659 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its stake in Union Bankshares by 67.0% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,490 shares of the financial services provider’s stock worth $128,000 after acquiring an additional 1,400 shares during the last quarter. LPL Financial LLC purchased a new position in Union Bankshares in the first quarter worth approximately $817,000. Legal & General Group Plc lifted its stake in Union Bankshares by 29.8% in the first quarter. Legal & General Group Plc now owns 27,833 shares of the financial services provider’s stock worth $1,022,000 after acquiring an additional 6,390 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Union Bankshares by 8.0% in the first quarter. Principal Financial Group Inc. now owns 542,312 shares of the financial services provider’s stock worth $19,908,000 after acquiring an additional 40,015 shares during the last quarter. Institutional investors own 75.52% of the company’s stock.
A number of research analysts recently issued reports on the stock. BidaskClub upgraded shares of Union Bankshares from a “sell” rating to a “hold” rating in a research note on Thursday, September 6th. Zacks Investment Research upgraded shares of Union Bankshares from a “hold” rating to a “buy” rating and set a $46.00 price target for the company in a research note on Tuesday, September 4th. 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. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, four 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 $44.14.
Union Bankshares (NASDAQ:UBSH) last issued its quarterly earnings data on Wednesday, October 17th. The financial services provider reported $0.61 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.03). The company had revenue of $125.85 million for the quarter, compared to analysts’ expectations of $132.49 million. Union Bankshares had a return on equity of 9.36% and a net margin of 20.38%. On average, equities research analysts forecast that Union Bankshares Corp will post 2.75 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 23rd. Stockholders of record on Friday, November 9th will be given a dividend of $0.23 per share. The ex-dividend date is Thursday, November 8th. This represents a $0.92 annualized dividend and a dividend yield of 2.68%. Union Bankshares’s dividend payout ratio is presently 48.17%.
In other news, Director G William Beale sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, September 20th. The shares were 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 owns 100,462 shares in the company, valued at approximately $4,063,687.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.18% of the stock is currently owned by insiders.
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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