Union Bankshares Corp. (UBSH) Hits New 52-Week High at $27.96
Union Bankshares Corp. (NASDAQ:UBSH) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $27.96 and last traded at $27.71, with a volume of 39,991 shares changing hands. The stock had previously closed at $27.55.
UBSH has been the topic of a number of research analyst reports. 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 note on Wednesday, July 27th. Keefe, Bruyette & Woods raised their target price on shares of 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. 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 note on Tuesday, May 24th. Three investment 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. The company currently has a consensus rating of “Buy” and an average target price of $28.00.
The firm’s 50 day moving average price is $26.43 and its 200 day moving average price is $25.16. The company has a market capitalization of $1.20 billion and a PE ratio of 17.06.
Union Bankshares Corp. (NASDAQ:UBSH) last announced its quarterly earnings results on Friday, July 22nd. The financial services provider reported $0.44 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.03. On average, analysts predict that Union Bankshares Corp. will post $1.72 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, August 19th. Shareholders of record on Friday, August 5th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend was Wednesday, August 3rd.
Several hedge funds have made changes to their positions in 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 worth $72,901,000 after buying an additional 177,150 shares in the last quarter. Matarin Capital Management LLC acquired a new stake in shares of Union Bankshares Corp. during the fourth quarter worth approximately $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 worth $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.
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