BidaskClub cut shares of Union Bankshares (NASDAQ:UBSH) from a buy rating to a hold rating in a report issued on Thursday.
UBSH has been the subject of a number of other reports. Zacks Investment Research lowered shares of Union Bankshares from a hold rating to a sell rating in a research note on Tuesday, January 1st. Brean Capital set a $42.00 price objective on shares of Union Bankshares and gave the company a buy rating in a research note on Friday, November 16th. ValuEngine upgraded shares of Union Bankshares from a sell rating to a hold rating in a research note on Tuesday, February 12th. Finally, Robert W. Baird upgraded shares of Union Bankshares from a neutral rating to an outperform rating and reduced their price objective for the company from $42.00 to $38.00 in a research note on Thursday, December 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $41.86.
Shares of Union Bankshares stock opened at $35.25 on Thursday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market capitalization of $2.89 billion, a P/E ratio of 13.01 and a beta of 1.40. Union Bankshares has a 1 year low of $26.48 and a 1 year high of $42.74.
Union Bankshares (NASDAQ:UBSH) last issued its quarterly earnings results on Tuesday, January 22nd. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.02. The company had revenue of $132.58 million during the quarter, compared to analyst estimates of $131.01 million. Union Bankshares had a net margin of 23.02% and a return on equity of 9.52%. Equities research analysts expect that Union Bankshares will post 2.86 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 22nd. Shareholders of record on Friday, February 8th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Thursday, February 7th. This represents a $0.92 dividend on an annualized basis and a yield of 2.61%. Union Bankshares’s dividend payout ratio is currently 33.95%.
Large investors have recently added to or reduced their stakes in the business. Shine Investment Advisory Services Inc. grew its stake in shares of Union Bankshares by 21.7% in the fourth quarter. Shine Investment Advisory Services Inc. now owns 2,000 shares of the financial services provider’s stock worth $56,000 after acquiring an additional 356 shares during the period. Bank of Montreal Can grew its stake in shares of Union Bankshares by 32.9% in the fourth quarter. Bank of Montreal Can now owns 3,313 shares of the financial services provider’s stock worth $93,000 after acquiring an additional 820 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Union Bankshares by 25.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,083 shares of the financial services provider’s stock worth $115,000 after acquiring an additional 837 shares during the period. Great West Life Assurance Co. Can grew its stake in shares of Union Bankshares by 26.3% in the fourth quarter. Great West Life Assurance Co. Can now owns 8,030 shares of the financial services provider’s stock worth $218,000 after acquiring an additional 1,674 shares during the period. Finally, Envestnet Asset Management Inc. bought a new stake in shares of Union Bankshares in the third quarter worth approximately $222,000. Institutional investors and hedge funds own 76.27% of the company’s stock.
Union Bankshares Company Profile
Union Bankshares Corporation operates as the bank holding company for Union Bank & Trust that provides banking and related financial services to consumers and businesses. The company operates in two segments, Community Bank and Mortgage. It accepts various deposit products, including checking, savings, NOW, time deposit, and money market accounts, as well as certificates of deposit and other depository services.
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