Union Bankshares Corp. (UBSH) Sees Strong Trading Volume
Shares of Union Bankshares Corp. (NASDAQ:UBSH) saw an uptick in trading volume on Friday . 91,936 shares were traded during trading, a decline of 5% from the previous session’s volume of 96,764 shares.The stock last traded at $27.54 and had previously closed at $27.20.
A number of research firms recently weighed in on UBSH. Zacks Investment Research raised shares of Union Bankshares Corp. from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a report on Wednesday, July 27th. Keefe, Bruyette & Woods boosted their price target on shares of Union Bankshares Corp. from $25.00 to $27.00 and gave the stock a “market perform” rating in a research note on Monday, July 25th. Robert W. Baird boosted their price target on shares of Union Bankshares Corp. from $23.00 to $25.00 and gave the stock a “neutral” rating in a research note on Thursday, April 21st. Finally, Compass Point cut shares of Union Bankshares Corp. from a “buy” rating to a “neutral” rating and set a $29.00 price target for the company. in a research note on Tuesday, May 24th. 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 stock. Union Bankshares Corp. has an average rating of “Buy” and a consensus target price of $28.00.
The stock’s 50 day moving average price is $26.43 and its 200 day moving average price is $25.16. The firm has a market capitalization of $1.20 billion and a P/E ratio of 17.01.
Union Bankshares Corp. (NASDAQ:UBSH) last posted its quarterly earnings data on Friday, July 22nd. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. Equities analysts forecast that Union Bankshares Corp. will post $1.72 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 19th. Investors of record on Friday, August 5th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend is Wednesday, August 3rd.
Other institutional investors have bought and sold shares of the company. Dimensional Fund Advisors LP increased its position in Union Bankshares Corp. by 6.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,888,256 shares of the financial services provider’s stock worth $72,901,000 after buying an additional 177,150 shares during the last quarter. Matarin Capital Management LLC acquired a new position in Union Bankshares Corp. during the fourth quarter worth about $1,787,000. Finally, First Trust Advisors LP increased its position in Union Bankshares Corp. by 92.4% in the fourth quarter. First Trust Advisors LP now owns 54,543 shares of the financial services provider’s stock worth $1,377,000 after buying an additional 26,197 shares during the last quarter.
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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