Rhumbline Advisers lessened its stake in shares of Union Bankshares Corp (NASDAQ:UBSH) by 12.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,209 shares of the financial services provider’s stock after selling 8,604 shares during the quarter. Rhumbline Advisers owned 0.09% of Union Bankshares worth $2,142,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of UBSH. US Bancorp DE lifted its position in shares of Union Bankshares by 101.5% during the 4th quarter. US Bancorp DE now owns 4,263 shares of the financial services provider’s stock worth $154,000 after buying an additional 2,147 shares during the period. Canal Capital Management LLC bought a new position in shares of Union Bankshares during the 4th quarter worth approximately $238,000. Dubuque Bank & Trust Co. bought a new position in shares of Union Bankshares during the 4th quarter worth approximately $242,000. Palladium Partners LLC bought a new position in shares of Union Bankshares during the 4th quarter worth approximately $290,000. Finally, Teacher Retirement System of Texas bought a new position in shares of Union Bankshares during the 4th quarter worth approximately $537,000. Institutional investors and hedge funds own 47.49% of the company’s stock.
A number of equities research analysts recently weighed in on the company. Zacks Investment Research cut Union Bankshares from a “hold” rating to a “sell” rating in a report on Wednesday, March 14th. Merion Capital Group raised their price target on Union Bankshares from $45.00 to $47.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Brean Capital reaffirmed a “hold” rating on shares of Union Bankshares in a report on Tuesday, January 23rd. Finally, BidaskClub raised Union Bankshares from a “sell” rating to a “hold” rating in a report on Thursday, January 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $41.80.
In other news, Director G William Beale sold 32,064 shares of Union Bankshares stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $39.67, for a total value of $1,271,978.88. Following the completion of the sale, the director now directly owns 84,333 shares of the company’s stock, valued at approximately $3,345,490.11. The transaction 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 company insiders.
Shares of UBSH stock opened at $38.78 on Wednesday. Union Bankshares Corp has a twelve month low of $29.50 and a twelve month high of $39.80. The firm has a market capitalization of $2,602.77, a price-to-earnings ratio of 23.22 and a beta of 1.17. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.41.
Union Bankshares (NASDAQ:UBSH) last released its earnings results on Tuesday, January 23rd. The financial services provider reported $0.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.01. The company had revenue of $90.64 million during the quarter, compared to analysts’ expectations of $91.35 million. Union Bankshares had a return on equity of 8.09% and a net margin of 18.15%. equities analysts anticipate that Union Bankshares Corp will post 2.51 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Tuesday, February 6th were paid a $0.21 dividend. The ex-dividend date was Monday, February 5th. This represents a $0.84 annualized dividend and a dividend yield of 2.17%. Union Bankshares’s dividend payout ratio (DPR) is currently 50.30%.
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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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