Prudential Financial Inc. trimmed its holdings in shares of Union Bankshares Corp (NASDAQ:UBSH) by 88.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,493 shares of the financial services provider’s stock after selling 141,466 shares during the quarter. Prudential Financial Inc.’s holdings in Union Bankshares were worth $653,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Bronfman E.L. Rothschild L.P. raised its stake in shares of Union Bankshares by 3.8% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 3,226 shares of the financial services provider’s stock worth $109,000 after buying an additional 119 shares during the period. SG Americas Securities LLC acquired a new position in shares of Union Bankshares during the 2nd quarter worth approximately $119,000. Ameritas Investment Partners Inc. increased its position in shares of Union Bankshares by 8.8% during the second quarter. Ameritas Investment Partners Inc. now owns 3,789 shares of the financial services provider’s stock worth $128,000 after purchasing an additional 307 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Union Bankshares by 17.6% during the second quarter. Victory Capital Management Inc. now owns 5,230 shares of the financial services provider’s stock worth $177,000 after purchasing an additional 783 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its position in shares of Union Bankshares by 895.0% during the second quarter. BNP Paribas Arbitrage SA now owns 6,229 shares of the financial services provider’s stock worth $211,000 after purchasing an additional 5,603 shares in the last quarter. 65.04% of the stock is owned by institutional investors and hedge funds.
Shares of Union Bankshares Corp (NASDAQ UBSH) opened at $36.54 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.94 and a current ratio of 0.94. Union Bankshares Corp has a 12-month low of $29.50 and a 12-month high of $39.37. The company has a market capitalization of $1,628.58, a P/E ratio of 19.91 and a beta of 1.27.
Union Bankshares (NASDAQ:UBSH) last issued its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.49 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.49. Union Bankshares had a return on equity of 7.98% and a net margin of 20.02%. The firm had revenue of $88.73 million during the quarter, compared to analysts’ expectations of $91.68 million. analysts predict that Union Bankshares Corp will post 1.86 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, November 27th. Shareholders of record on Monday, November 13th were issued a $0.21 dividend. This is a boost from Union Bankshares’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 2.30%. The ex-dividend date was Friday, November 10th. Union Bankshares’s dividend payout ratio is presently 46.67%.
Several analysts recently commented on UBSH shares. Brean Capital reiterated a “hold” rating on shares of Union Bankshares in a research report on Tuesday, October 24th. ValuEngine cut Union Bankshares from a “buy” rating to a “hold” rating in a research report on Tuesday, October 10th. Finally, Zacks Investment Research upgraded Union Bankshares from a “sell” rating to a “hold” rating in a research report on Wednesday, September 6th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $39.33.
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Union Bankshares Profile
Union Bankshares Corporation is a financial holding company and bank holding company. The Company operates through two segments: a community bank segment and mortgage loan origination business segment. The Company offers financial services through its community bank subsidiary, Union Bank & Trust (the Bank) and three non-bank financial services affiliates.
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