Union Bankshares Corp. (UBSH) Sees Strong Trading Volume
Union Bankshares Corp. (NASDAQ:UBSH) saw strong 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.
Several equities research analysts have commented on the stock. Keefe, Bruyette & Woods boosted 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 research report on Monday, July 25th. Zacks Investment Research upgraded 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 research report on Wednesday, July 27th. Finally, Compass Point lowered shares of Union Bankshares Corp. from a “buy” rating to a “neutral” rating and set a $29.00 target price on the stock. in a research report on Tuesday, May 24th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $28.00.
The stock has a market capitalization of $1.20 billion and a price-to-earnings ratio of 17.01. The stock has a 50-day moving average of $26.43 and a 200-day moving average of $25.16.
Union Bankshares Corp. (NASDAQ:UBSH) last posted its quarterly earnings results on Friday, July 22nd. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.03. On average, analysts forecast that Union Bankshares Corp. will post $1.72 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, August 19th. Investors of record on Friday, August 5th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend was Wednesday, August 3rd.
Other large investors recently modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in shares of 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 valued at $72,901,000 after buying an additional 177,150 shares in the last quarter. Matarin Capital Management LLC bought a new stake in shares of Union Bankshares Corp. during the fourth quarter valued at $1,787,000. Finally, First Trust Advisors LP raised its stake in shares of 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 valued at $1,377,000 after buying an additional 26,197 shares in 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.