Union Bankshares (NYSE:AUB) Downgraded by Zacks Investment Research

Union Bankshares (NYSE:AUB) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday, Zacks.com reports.

According to Zacks, “Atlantic Union Bankshares Corporation provides banking and financial services to consumers and businesses. It provides deposit products, loans, credit cards, automated teller machine services, mobile and Internet banking services, online bill payment services, as well as trust, and wealth management services. Atlantic Union Bankshares Corporation, formerly known as Union Bankshares Corporation, is based in Richmond, United States. “

Separately, Boenning Scattergood reiterated an “outperform” rating and set a $47.75 target price on shares of WSFS Financial in a research note on Thursday, June 20th.

AUB traded up $0.70 during mid-day trading on Tuesday, reaching $35.64. 9,783 shares of the company traded hands, compared to its average volume of 313,410. Union Bankshares has a 52-week low of $26.48 and a 52-week high of $42.74.

Union Bankshares (NYSE:AUB) last announced its earnings results on Wednesday, April 24th. The company reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.02). The business had revenue of $152.49 million for the quarter, compared to analyst estimates of $154.45 million.

Institutional investors and hedge funds have recently made changes to their positions in the business. Investors Research Corp purchased a new stake in Union Bankshares during the 2nd quarter valued at $57,000. McCollum Christoferson Group LLC purchased a new stake in shares of Union Bankshares in the 2nd quarter worth $500,000. Carroll Financial Associates Inc. purchased a new stake in shares of Union Bankshares in the 2nd quarter worth $1,202,000. First National Bank of Omaha purchased a new stake in shares of Union Bankshares in the 2nd quarter worth $1,641,000. Finally, Hennessy Advisors Inc. purchased a new stake in shares of Union Bankshares in the 2nd quarter worth $4,593,000.

Union Bankshares Company Profile

Atlantic Union Bankshares Corporation operates as the holding company for Atlantic Union Bank that provides banking and related financial services to consumers and businesses. 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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