American International Group Inc. increased its holdings in shares of Union Bankshares Corp (NASDAQ:UBSH) by 8.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,945 shares of the financial services provider’s stock after buying an additional 2,164 shares during the period. American International Group Inc. owned about 0.07% of Union Bankshares worth $1,022,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of UBSH. Bank of New York Mellon Corp lifted its position in shares of Union Bankshares by 267.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,121,588 shares of the financial services provider’s stock worth $38,022,000 after purchasing an additional 816,696 shares during the period. Eagle Asset Management Inc. acquired a new position in shares of Union Bankshares in the 2nd quarter worth approximately $15,837,000. Dimensional Fund Advisors LP lifted its position in shares of Union Bankshares by 4.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,666,823 shares of the financial services provider’s stock worth $124,306,000 after purchasing an additional 146,885 shares during the period. Thrivent Financial For Lutherans lifted its position in shares of Union Bankshares by 509.7% in the 2nd quarter. Thrivent Financial For Lutherans now owns 165,460 shares of the financial services provider’s stock worth $5,609,000 after purchasing an additional 138,320 shares during the period. Finally, Renaissance Technologies LLC lifted its position in shares of Union Bankshares by 15.9% in the 2nd quarter. Renaissance Technologies LLC now owns 803,745 shares of the financial services provider’s stock worth $27,247,000 after purchasing an additional 110,040 shares during the period. Institutional investors and hedge funds own 64.54% of the company’s stock.
UBSH has been the topic of a number of recent analyst reports. Brean Capital restated a “hold” rating on shares of Union Bankshares in a research report on Tuesday, October 24th. ValuEngine downgraded shares of Union Bankshares from a “buy” rating to a “hold” rating in a research report on Tuesday, October 10th. Finally, Zacks Investment Research upgraded shares of 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 given a hold rating, two have issued a buy rating and two have given a strong buy rating to the stock. Union Bankshares currently has a consensus rating of “Buy” and a consensus price target of $39.33.
Union Bankshares (NASDAQ:UBSH) last released its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.49 earnings per share for the quarter, meeting the consensus estimate of $0.49. The company had revenue of $88.73 million during the quarter, compared to analyst estimates of $91.68 million. Union Bankshares had a net margin of 20.02% and a return on equity of 7.98%. analysts expect that Union Bankshares Corp will post 1.86 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, November 27th. Stockholders of record on Monday, November 13th were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, November 10th. This represents a $0.84 annualized dividend and a dividend yield of 2.26%. This is a positive change from Union Bankshares’s previous quarterly dividend of $0.20. Union Bankshares’s payout ratio is currently 46.67%.
In related news, EVP John G. Jr. Stallings acquired 1,373 shares of the stock in a transaction dated Thursday, December 14th. The stock was bought at an average price of $36.22 per share, for a total transaction of $49,730.06. Following the purchase, the executive vice president now directly owns 9,582 shares of the company’s stock, valued at approximately $347,060.04. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 2.18% of the company’s stock.
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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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