Strs Ohio Has $993,000 Position in Union Bankshares Corporation (UBSH)

Strs Ohio raised its position in shares of Union Bankshares Corporation (NASDAQ:UBSH) by 1.7% during the second quarter, Holdings Channel reports. The institutional investor owned 29,300 shares of the financial services provider’s stock after buying an additional 500 shares during the period. Strs Ohio’s holdings in Union Bankshares Corporation were worth $993,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in UBSH. Dimensional Fund Advisors LP raised its stake in shares of Union Bankshares Corporation by 2.9% in the first quarter. Dimensional Fund Advisors LP now owns 3,519,938 shares of the financial services provider’s stock worth $123,832,000 after buying an additional 100,474 shares in the last quarter. BlackRock Inc. raised its stake in shares of Union Bankshares Corporation by 15,378.0% in the first quarter. BlackRock Inc. now owns 3,105,815 shares of the financial services provider’s stock worth $109,261,000 after buying an additional 3,085,749 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in shares of Union Bankshares Corporation by 1.5% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 2,382,950 shares of the financial services provider’s stock worth $80,783,000 after buying an additional 36,050 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Union Bankshares Corporation by 4.6% in the first quarter. Vanguard Group Inc. now owns 2,077,123 shares of the financial services provider’s stock worth $73,073,000 after buying an additional 90,397 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Union Bankshares Corporation by 1.4% in the first quarter. Renaissance Technologies LLC now owns 693,705 shares of the financial services provider’s stock worth $24,405,000 after buying an additional 9,500 shares in the last quarter. 62.73% of the stock is currently owned by institutional investors.

Shares of Union Bankshares Corporation (NASDAQ:UBSH) opened at 31.80 on Wednesday. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of 17.73 and a beta of 1.23. Union Bankshares Corporation has a one year low of $26.13 and a one year high of $39.37. The firm has a 50-day moving average price of $32.57 and a 200-day moving average price of $34.35.

Union Bankshares Corporation (NASDAQ:UBSH) last announced its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.46 EPS for the quarter, meeting the consensus estimate of $0.46. Union Bankshares Corporation had a net margin of 20.42% and a return on equity of 7.97%. The company had revenue of $87.06 million for the quarter, compared to analyst estimates of $89.67 million. Analysts anticipate that Union Bankshares Corporation will post $1.86 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, August 18th. Shareholders of record on Friday, August 4th will be paid a $0.20 dividend. The ex-dividend date is Wednesday, August 2nd. This represents a $0.80 annualized dividend and a dividend yield of 2.52%. Union Bankshares Corporation’s payout ratio is currently 44.44%.

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UBSH has been the topic of a number of analyst reports. Keefe, Bruyette & Woods raised Union Bankshares Corporation from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $37.00 to $38.00 in a report on Tuesday, May 23rd. Raymond James Financial, Inc. raised Union Bankshares Corporation from an “outperform” rating to a “strong-buy” rating in a report on Wednesday, May 24th. Brean Capital reaffirmed a “hold” rating on shares of Union Bankshares Corporation in a report on Wednesday, August 2nd. BidaskClub lowered Union Bankshares Corporation from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 25th. Finally, Zacks Investment Research lowered Union Bankshares Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $39.25.

About Union Bankshares Corporation

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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Institutional Ownership by Quarter for Union Bankshares Corporation (NASDAQ:UBSH)

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