Union Bankshares Corporation (NYSE:AUB) Director Michael W. Clarke Sells 2,000 Shares

Union Bankshares Corporation (NYSE:AUB) Director Michael W. Clarke sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $23.01, for a total value of $46,020.00. Following the completion of the sale, the director now directly owns 469,519 shares of the company’s stock, valued at approximately $10,803,632.19. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

AUB stock traded down $0.61 during mid-day trading on Friday, reaching $22.31. The company had a trading volume of 9,404 shares, compared to its average volume of 395,210. Union Bankshares Corporation has a 52 week low of $18.55 and a 52 week high of $40.20. The stock has a 50 day simple moving average of $22.29 and a two-hundred day simple moving average of $25.78.

Union Bankshares (NYSE:AUB) last issued its earnings results on Thursday, July 23rd. The company reported $0.39 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.09. The business had revenue of $173.24 million for the quarter, compared to the consensus estimate of $155.04 million.

The company also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Friday, August 7th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $1.00 annualized dividend and a yield of 4.48%.

A number of large investors have recently added to or reduced their stakes in AUB. Alliancebernstein L.P. raised its stake in Union Bankshares by 0.3% during the 4th quarter. Alliancebernstein L.P. now owns 120,640 shares of the company’s stock worth $4,530,000 after buying an additional 400 shares during the period. First National Bank of Omaha grew its holdings in Union Bankshares by 1.2% during the first quarter. First National Bank of Omaha now owns 44,795 shares of the company’s stock valued at $981,000 after purchasing an additional 541 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Union Bankshares by 10.3% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,993 shares of the company’s stock valued at $131,000 after purchasing an additional 558 shares during the period. Pitcairn Co. grew its holdings in Union Bankshares by 7.6% during the second quarter. Pitcairn Co. now owns 10,683 shares of the company’s stock valued at $247,000 after purchasing an additional 752 shares during the period. Finally, Envestnet Asset Management Inc. grew its holdings in Union Bankshares by 0.7% during the second quarter. Envestnet Asset Management Inc. now owns 120,080 shares of the company’s stock valued at $2,781,000 after purchasing an additional 852 shares during the period.

A number of research analysts recently commented on AUB shares. Compass Point upgraded Union Bankshares from a “neutral” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Friday, July 24th. Zacks Investment Research upgraded Union Bankshares from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 30th. Raymond James lowered Union Bankshares from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 29th. Stephens raised Union Bankshares from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, May 5th. Finally, Piper Sandler initiated coverage on Union Bankshares in a research note on Monday. They issued a “neutral” rating on the stock. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $36.50.

About Union Bankshares

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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Insider Buying and Selling by Quarter for Union Bankshares (NYSE:AUB)

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