Union Bankshares Corp. (NASDAQ:UBSH) Receives $28.00 Consensus Target Price from Brokerages
Union Bankshares Corp. (NASDAQ:UBSH) has earned an average rating of “Buy” from the six analysts that are covering the stock. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $28.00.
A number of analysts recently commented on UBSH shares. Keefe, Bruyette & Woods increased their price objective on Union Bankshares Corp. from $25.00 to $27.00 and gave the company a “market perform” rating in a research note on Monday, July 25th. Zacks Investment Research lowered Union Bankshares Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, June 29th.
Union Bankshares Corp. (NASDAQ:UBSH) opened at 27.03 on Monday. The stock’s 50 day moving average price is $27.22 and its 200-day moving average price is $25.97. Union Bankshares Corp. has a 12 month low of $20.57 and a 12 month high of $27.96. The firm has a market capitalization of $1.18 billion, a P/E ratio of 16.69 and a beta of 1.09.
Union Bankshares Corp. (NASDAQ:UBSH) last posted its quarterly earnings data on Friday, July 22nd. The financial services provider reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.03. Union Bankshares Corp. had a return on equity of 7.30% and a net margin of 20.64%. On average, analysts forecast that Union Bankshares Corp. will post $1.72 earnings per share for the current year.
A number of hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in shares of Union Bankshares Corp. by 5.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,209,717 shares of the financial services provider’s stock worth $79,312,000 after buying an additional 179,412 shares during the last quarter. Vanguard Group Inc. increased its position in Union Bankshares Corp. by 6.3% in the second quarter. Vanguard Group Inc. now owns 1,704,261 shares of the financial services provider’s stock worth $42,112,000 after buying an additional 101,231 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in Union Bankshares Corp. by 1.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,229,167 shares of the financial services provider’s stock worth $30,274,000 after buying an additional 16,880 shares during the period. JPMorgan Chase & Co. increased its position in 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 worth $26,972,000 after buying an additional 17,303 shares during the period. Finally, Ameriprise Financial Inc. increased its position in Union Bankshares Corp. by 4.3% in the second quarter. Ameriprise Financial Inc. now owns 1,095,017 shares of the financial services provider’s stock worth $27,059,000 after buying an additional 45,467 shares during the period. 57.68% of the stock is currently owned by hedge funds and other institutional investors.
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.
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