Redmond Asset Management LLC Invests $556,000 in Union Bankshares Corporation (NYSE:AUB)

Redmond Asset Management LLC purchased a new position in shares of Union Bankshares Corporation (NYSE:AUB) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 15,733 shares of the company’s stock, valued at approximately $556,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Carroll Financial Associates Inc. bought a new position in shares of Union Bankshares during the 2nd quarter worth $1,202,000. First National Bank of Omaha bought a new position in shares of Union Bankshares during the 2nd quarter worth $1,641,000. Moody Aldrich Partners LLC bought a new position in shares of Union Bankshares during the 2nd quarter worth $5,585,000. Emerald Mutual Fund Advisers Trust bought a new position in shares of Union Bankshares during the 2nd quarter worth $11,084,000. Finally, Tributary Capital Management LLC bought a new position in shares of Union Bankshares during the 2nd quarter worth $26,868,000.

Shares of NYSE AUB traded up $0.18 during mid-day trading on Thursday, reaching $35.23. 3,763 shares of the company were exchanged, compared to its average volume of 304,351. Union Bankshares Corporation has a 1 year low of $26.48 and a 1 year high of $42.64. The business has a 50-day simple moving average of $35.98.

Union Bankshares (NYSE:AUB) last issued its quarterly earnings data on Thursday, July 18th. The company reported $0.70 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.70. The company had revenue of $169.17 million for the quarter, compared to analysts’ expectations of $169.26 million.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Investors of record on Friday, August 2nd will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend is Thursday, August 1st.

A number of equities research analysts recently weighed in on the company. Boenning Scattergood restated a “hold” rating on shares of Union Bankshares in a research note on Friday, July 19th. Raymond James set a $40.00 price objective on Union Bankshares and gave the stock a “buy” rating in a research note on Friday, July 19th. Finally, Zacks Investment Research upgraded Union Bankshares from a “sell” rating to a “hold” rating in a research note on Monday.

Union Bankshares 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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Institutional Ownership by Quarter for Union Bankshares (NYSE:AUB)

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