Union Bankshares Corp. (UBSH) Sees Strong Trading Volume
Union Bankshares Corp. (NASDAQ:UBSH) shares saw unusually-high trading volume on Thursday . Approximately 117,288 shares were traded during trading, an increase of 21% from the previous session’s volume of 96,588 shares.The stock last traded at $27.13 and had previously closed at $26.97.
Several research analysts have recently weighed in on the stock. 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 report on Tuesday, May 24th. Keefe, Bruyette & Woods upped their price target on shares of Union Bankshares Corp. from $25.00 to $27.00 and gave the company 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 investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Union Bankshares Corp. has an average rating of “Buy” and a consensus price target of $28.00.
The company has a 50 day moving average price of $26.75 and a 200 day moving average price of $25.36. The firm has a market cap of $1.18 billion and a price-to-earnings ratio of 16.72.
Union Bankshares Corp. (NASDAQ:UBSH) last issued its quarterly earnings data on Friday, July 22nd. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.03. On average, equities research analysts forecast that Union Bankshares Corp. will post $1.72 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 19th. Investors of record on Friday, August 5th were issued a $0.19 dividend. The ex-dividend date was Wednesday, August 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 2.81%.
A hedge fund recently bought a new stake in Union Bankshares Corp. stock. Matarin Capital Management LLC acquired a new position in shares of Union Bankshares Corp. (NASDAQ:UBSH) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 70,798 shares of the financial services provider’s stock, valued at approximately $1,787,000. Matarin Capital Management LLC owned about 0.16% of Union Bankshares Corp. at the end of the most recent 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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