Goldman Sachs Group Inc. boosted its stake in Union Bankshares Corporation (NASDAQ:UBSH) by 75.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 50,730 shares of the financial services provider’s stock after buying an additional 21,803 shares during the period. Goldman Sachs Group Inc.’s holdings in Union Bankshares Corporation were worth $1,785,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Teachers Advisors LLC boosted its stake in shares of Union Bankshares Corporation by 22.8% in the fourth quarter. Teachers Advisors LLC now owns 98,124 shares of the financial services provider’s stock valued at $3,507,000 after buying an additional 18,247 shares in the last quarter. 361 Capital LLC bought a new stake in shares of Union Bankshares Corporation during the first quarter valued at about $204,000. First Trust Advisors LP boosted its stake in shares of Union Bankshares Corporation by 57.6% in the first quarter. First Trust Advisors LP now owns 149,241 shares of the financial services provider’s stock valued at $5,250,000 after buying an additional 54,530 shares in the last quarter. AMG National Trust Bank boosted its stake in shares of Union Bankshares Corporation by 12.1% in the first quarter. AMG National Trust Bank now owns 19,411 shares of the financial services provider’s stock valued at $683,000 after buying an additional 2,102 shares in the last quarter. Finally, Capital Fund Management S.A. bought a new stake in shares of Union Bankshares Corporation during the first quarter valued at about $285,000. 60.62% of the stock is owned by hedge funds and other institutional investors.

Union Bankshares Corporation (UBSH) traded up 2.19% during trading on Friday, hitting $31.76. 171,137 shares of the company traded hands. Union Bankshares Corporation has a one year low of $26.13 and a one year high of $39.37. The firm has a market cap of $1.39 billion, a P/E ratio of 17.70 and a beta of 1.23. The firm has a 50 day moving average of $33.29 and a 200 day moving average of $34.60.

Union Bankshares Corporation (NASDAQ:UBSH) last posted its earnings results on Wednesday, July 19th. The financial services provider reported $0.46 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.46. The business had revenue of $87.06 million during the quarter, compared to analyst estimates of $89.67 million. Union Bankshares Corporation had a return on equity of 8.01% and a net margin of 20.42%. On average, analysts expect that Union Bankshares Corporation will post $1.86 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, August 18th. Shareholders of record on Friday, August 4th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend is Wednesday, August 2nd. Union Bankshares Corporation’s payout ratio is presently 44.44%.

ILLEGAL ACTIVITY NOTICE: “Union Bankshares Corporation (UBSH) Stake Increased by Goldman Sachs Group Inc.” was published by Daily Political and is owned by of Daily Political. If you are viewing this news story on another site, it was illegally copied and republished in violation of United States & international trademark & copyright laws. The original version of this news story can be viewed at https://www.dailypolitical.com/2017/08/06/union-bankshares-corporation-ubsh-stake-increased-by-goldman-sachs-group-inc.html.

Several analysts have recently issued reports on UBSH shares. Keefe, Bruyette & Woods raised shares of Union Bankshares Corporation from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $37.00 to $38.00 in a research note on Tuesday, May 23rd. Raymond James Financial, Inc. raised shares of Union Bankshares Corporation from an “outperform” rating to a “strong-buy” rating in a research note on Wednesday, May 24th. Brean Capital reissued a “hold” rating on shares of Union Bankshares Corporation in a research note on Wednesday. BidaskClub cut shares of Union Bankshares Corporation from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 25th. Finally, Zacks Investment Research cut shares of Union Bankshares Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $39.25.

Union Bankshares Corporation Company Profile

Union Bankshares Corporation is a financial holding company and bank holding company. The Company operates through two segments: a community bank segment and mortgage loan origination business segment. The Company offers financial services through its community bank subsidiary, Union Bank & Trust (the Bank) and three non-bank financial services affiliates.

Want to see what other hedge funds are holding UBSH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Union Bankshares Corporation (NASDAQ:UBSH).

Institutional Ownership by Quarter for Union Bankshares Corporation (NASDAQ:UBSH)

Receive News & Ratings for Union Bankshares Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Union Bankshares Corporation and related companies with MarketBeat.com's FREE daily email newsletter.