Bank of New York Mellon Corp decreased its stake in shares of Union Bankshares Corp. (NASDAQ:UBSH) by 0.3% during the second quarter, Holdings Channel reports. The firm owned 265,955 shares of the financial services provider’s stock after selling 728 shares during the period. Bank of New York Mellon Corp owned about 0.61% of Union Bankshares Corp. worth $6,572,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of UBSH. Squarepoint Ops LLC acquired a new position in Union Bankshares Corp. during the first quarter valued at $236,000. Silvercrest Asset Management Group LLC raised its position in Union Bankshares Corp. by 91.1% in the first quarter. Silvercrest Asset Management Group LLC now owns 62,950 shares of the financial services provider’s stock valued at $1,550,000 after buying an additional 30,003 shares during the period. Zurich Insurance Group Ltd FI purchased a new position in shares of Union Bankshares Corp. during the first quarter valued at approximately $1,175,000. Renaissance Technologies LLC boosted its position in shares of Union Bankshares Corp. by 11.6% in the first quarter. Renaissance Technologies LLC now owns 583,905 shares of the financial services provider’s stock valued at $14,382,000 after buying an additional 60,900 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Union Bankshares Corp. by 1.6% in the first quarter. JPMorgan Chase & Co. now owns 1,095,107 shares of the financial services provider’s stock valued at $26,972,000 after buying an additional 17,303 shares during the last quarter. Institutional investors own 58.20% of the company’s stock.

Shares of Union Bankshares Corp. (NASDAQ:UBSH) traded up 0.41% on Tuesday, hitting $26.95. 76,754 shares of the company’s stock traded hands. The company has a market cap of $1.17 billion, a price-to-earnings ratio of 16.64 and a beta of 1.09. Union Bankshares Corp. has a 1-year low of $20.57 and a 1-year high of $27.96. The firm’s 50-day moving average price is $27.20 and its 200 day moving average price is $25.94.

Union Bankshares Corp. (NASDAQ:UBSH) last issued its earnings results on Friday, July 22nd. The financial services provider reported $0.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.03. Union Bankshares Corp. had a net margin of 20.64% and a return on equity of 7.30%. On average, equities research analysts expect that Union Bankshares Corp. will post $1.72 earnings per share for the current year.

UBSH has been the subject of several recent analyst reports. Compass Point cut shares of Union Bankshares Corp. from a “buy” rating to a “neutral” rating and set a $29.00 target price for the company. in a report on Tuesday, May 24th. Keefe, Bruyette & Woods raised their target price on shares of Union Bankshares Corp. from $25.00 to $27.00 and gave the stock a “market perform” rating in a report on Monday, July 25th. Finally, Zacks Investment Research cut shares of Union Bankshares Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, June 29th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $28.00.

About Union Bankshares Corp.

Union Bankshares Corporation, formerly Union First Market Bankshares Corporation, is a financial holding company and a bank holding company. The Company offers financial services through its community bank subsidiary, Union Bank & Trust and three non-bank financial services affiliates. The Company’s non-bank financial services affiliates are Union Mortgage Group, Inc (UMG), Union Investment Services, Inc and Union Insurance Group, LLC.

5 Day Chart for NASDAQ:UBSH

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