GSA Capital Partners LLP cut its position in shares of Union Bankshares Corp. (NASDAQ:UBSH) by 24.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,647 shares of the financial services provider’s stock after selling 5,163 shares during the period. GSA Capital Partners LLP’s holdings in Union Bankshares Corp. were worth $387,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of the stock. Emerald Acquisition Ltd. acquired a new stake in shares of Union Bankshares Corp. during the second quarter worth $3,621,000. RMB Capital Management LLC acquired a new stake in shares of Union Bankshares Corp. during the first quarter worth $3,409,000. Mendon Capital Advisors Corp acquired a new stake in shares of Union Bankshares Corp. during the first quarter worth $2,749,000. Renaissance Technologies LLC increased its stake in shares of Union Bankshares Corp. by 11.6% in the first quarter. Renaissance Technologies LLC now owns 583,905 shares of the financial services provider’s stock worth $14,382,000 after buying an additional 60,900 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI acquired a new stake in shares of Union Bankshares Corp. during the first quarter worth $1,175,000. 57.68% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Union Bankshares Corp. (NASDAQ:UBSH) traded up 1.89% on Thursday, reaching $27.54. The company had a trading volume of 86,681 shares. The company’s 50-day moving average is $27.22 and its 200-day moving average is $25.97. Union Bankshares Corp. has a one year low of $20.57 and a one year high of $27.96. The company has a market capitalization of $1.20 billion, a PE ratio of 17.00 and a beta of 1.09.
Union Bankshares Corp. (NASDAQ:UBSH) last issued its earnings results on Friday, July 22nd. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.03. Union Bankshares Corp. had a net margin of 20.64% and a return on equity of 7.30%. Equities research analysts predict that Union Bankshares Corp. will post $1.72 earnings per share for the current year.
UBSH has been the topic of a number of research analyst reports. Zacks Investment Research downgraded Union Bankshares Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, June 29th. Keefe, Bruyette & Woods raised their price objective 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. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $28.00.
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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