Public Employees Retirement System of Ohio lessened its stake in shares of Union Bankshares Corp (NASDAQ:UBSH) by 37.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,527 shares of the financial services provider’s stock after selling 4,601 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Union Bankshares were worth $266,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Bronfman E.L. Rothschild L.P. raised its position in Union Bankshares by 3.8% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 3,226 shares of the financial services provider’s stock valued at $109,000 after purchasing an additional 119 shares during the last quarter. SG Americas Securities LLC bought a new position in Union Bankshares in the 2nd quarter valued at $119,000. Ameritas Investment Partners Inc. raised its position in Union Bankshares by 8.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,789 shares of the financial services provider’s stock valued at $128,000 after purchasing an additional 307 shares during the last quarter. Victory Capital Management Inc. raised its position in Union Bankshares by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 5,230 shares of the financial services provider’s stock valued at $177,000 after purchasing an additional 783 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its position in Union Bankshares by 895.0% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 6,229 shares of the financial services provider’s stock valued at $211,000 after purchasing an additional 5,603 shares during the last quarter. Institutional investors and hedge funds own 64.54% of the company’s stock.
Several equities analysts have issued reports on UBSH shares. ValuEngine downgraded Union Bankshares from a “buy” rating to a “hold” rating in a research report on Tuesday, October 10th. Zacks Investment Research upgraded Union Bankshares from a “sell” rating to a “hold” rating in a research report on Thursday, October 5th. Brean Capital reiterated a “hold” rating on shares of Union Bankshares in a research report on Monday, October 30th. BidaskClub downgraded Union Bankshares from a “hold” rating to a “sell” rating in a research report on Wednesday, January 3rd. Finally, Sandler O’Neill set a $39.00 price objective on Union Bankshares and gave the company a “hold” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, three have issued a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. Union Bankshares currently has an average rating of “Buy” and an average target price of $39.40.
In other news, EVP John G. Jr. Stallings bought 1,373 shares of the company’s 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 completion of the transaction, the executive vice president now directly owns 9,582 shares in the company, valued at approximately $347,060.04. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.18% of the company’s stock.
Shares of Union Bankshares Corp (UBSH) opened at $35.92 on Monday. The firm has a market capitalization of $1,570.85, a price-to-earnings ratio of 19.96 and a beta of 1.28. Union Bankshares Corp has a 52-week low of $29.50 and a 52-week high of $39.37. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.94 and a current ratio of 0.94.
Union Bankshares (NASDAQ:UBSH) last released its earnings results on Wednesday, October 18th. The financial services provider reported $0.49 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.49. The company had revenue of $88.73 million during the quarter, compared to the consensus estimate of $91.68 million. Union Bankshares had a return on equity of 7.98% and a net margin of 20.02%. research analysts forecast that Union Bankshares Corp will post 1.86 EPS for the current year.
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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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