Shares of Union Bankshares Corp. (NASDAQ:UBSH) have received a consensus recommendation of “Buy” from the six research firms that are covering the firm. Four investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $27.60.
A number of analysts have issued reports on UBSH shares. Zacks Investment Research lowered Union Bankshares Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, June 29th. Keefe, Bruyette & Woods raised their target price on Union Bankshares Corp. from $25.00 to $27.00 and gave the company a “market perform” rating in a report on Monday, July 25th.
Union Bankshares Corp. (NASDAQ:UBSH) opened at 27.27 on Monday. The company has a market cap of $1.19 billion, a PE ratio of 16.83 and a beta of 1.09. Union Bankshares Corp. has a 1-year low of $20.57 and a 1-year high of $27.96. The stock has a 50 day moving average price of $27.27 and a 200 day moving average price of $26.01.
Union Bankshares Corp. (NASDAQ:UBSH) last released its earnings results on Friday, July 22nd. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.03. Union Bankshares Corp. had a return on equity of 7.30% and a net margin of 20.64%. Equities analysts forecast that Union Bankshares Corp. will post $1.72 earnings per share for the current year.
Several hedge funds have recently made changes to their positions in the company. Outfitter Advisors LTD. increased its position in Union Bankshares Corp. by 18.0% in the first quarter. Outfitter Advisors LTD. now owns 39,080 shares of the financial services provider’s stock valued at $963,000 after buying an additional 5,950 shares during the period. TIAA CREF Investment Management LLC increased its position in Union Bankshares Corp. by 8.0% in the first quarter. TIAA CREF Investment Management LLC now owns 188,863 shares of the financial services provider’s stock valued at $4,652,000 after buying an additional 13,992 shares during the period. Teachers Advisors Inc. increased its position in Union Bankshares Corp. by 6.9% in the first quarter. Teachers Advisors Inc. now owns 69,981 shares of the financial services provider’s stock valued at $1,724,000 after buying an additional 4,537 shares during the period. Prudential Financial Inc. increased its position in Union Bankshares Corp. by 16.1% in the first quarter. Prudential Financial Inc. now owns 95,023 shares of the financial services provider’s stock valued at $2,340,000 after buying an additional 13,192 shares during the period. Finally, Mendon Capital Advisors Corp bought a new position in Union Bankshares Corp. during the first quarter valued at approximately $2,749,000. Institutional investors own 57.68% of the company’s stock.
About Union Bankshares Corp.
Union Bankshares Corporation, formerly Union First Market Bankshares Corporation, is a financial holding company and a bank holding company. The Company offers financial services through its community bank subsidiary, Union Bank & Trust and three non-bank financial services affiliates. The Company’s non-bank financial services affiliates are Union Mortgage Group, Inc (UMG), Union Investment Services, Inc and Union Insurance Group, LLC.
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