Union Bankshares (UBSH) Stock Rating Lowered by Zacks Investment Research

Union Bankshares (NASDAQ:UBSH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

According to Zacks, “Union Bankshares Corporation is the holding company for Union First Market Bank. The Company operates through two segments, Community Bank and Mortgage. The Banks offer a wide range of banking and related financial services including checking, savings, certificates of deposit and other depository services, discount brokerage services, and a variety of loans. It provides credit cards, automated teller machine services, Internet banking services, and online bill payment services, as well as private banking and trust services to individuals and corporations. Union Bankshares Corporation, formerly Union First Market Bankshares Corporation, is headquartered in Richmond, Virginia. “

Other equities analysts have also recently issued reports about the company. ValuEngine cut Union Bankshares from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Brean Capital reissued a “hold” rating on shares of Union Bankshares in a report on Monday, October 30th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and two have issued a strong buy rating to the stock. Union Bankshares currently has an average rating of “Buy” and an average target price of $39.33.

Union Bankshares (NASDAQ UBSH) opened at $37.10 on Wednesday. Union Bankshares has a 1-year low of $29.50 and a 1-year high of $39.37. The firm has a market capitalization of $1,643.89, a price-to-earnings ratio of 20.10 and a beta of 1.27. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.94 and a quick ratio of 0.94.

Union Bankshares (NASDAQ:UBSH) last released its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.49 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.49. Union Bankshares had a return on equity of 7.98% and a net margin of 20.02%. The company had revenue of $88.73 million during the quarter, compared to analysts’ expectations of $91.68 million. equities research analysts anticipate that Union Bankshares will post 1.86 EPS for the current year.

In other Union Bankshares news, EVP John G. Jr. Stallings bought 1,373 shares of the company’s stock in a transaction that occurred on Thursday, December 14th. The stock was purchased at an average cost of $36.22 per share, for a total transaction of $49,730.06. Following the completion of the purchase, the executive vice president now owns 9,582 shares of the company’s stock, valued at approximately $347,060.04. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 2.18% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP increased its stake in Union Bankshares by 332.5% in the third quarter. GSA Capital Partners LLP now owns 60,352 shares of the financial services provider’s stock valued at $2,130,000 after purchasing an additional 46,397 shares during the last quarter. Martin & Co. Inc. TN grew its position in Union Bankshares by 35.0% during the third quarter. Martin & Co. Inc. TN now owns 69,246 shares of the financial services provider’s stock valued at $2,444,000 after acquiring an additional 17,941 shares during the period. California Public Employees Retirement System grew its position in Union Bankshares by 9.6% during the third quarter. California Public Employees Retirement System now owns 74,338 shares of the financial services provider’s stock valued at $2,624,000 after acquiring an additional 6,538 shares during the period. Janus Henderson Group PLC purchased a new stake in Union Bankshares during the third quarter valued at about $21,259,000. Finally, Allianz Asset Management GmbH grew its position in Union Bankshares by 3.8% during the third quarter. Allianz Asset Management GmbH now owns 63,751 shares of the financial services provider’s stock valued at $2,251,000 after acquiring an additional 2,326 shares during the period. Hedge funds and other institutional investors own 64.54% of the company’s stock.

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About Union Bankshares

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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