ValuEngine lowered shares of Union Bankshares Corporation (NASDAQ:UBSH) from a buy rating to a hold rating in a report published on Friday morning.

Other research analysts have also issued research reports about the company. Keefe, Bruyette & Woods raised Union Bankshares Corporation from a market perform rating to an outperform rating and boosted their target price for the stock from $37.00 to $38.00 in a report on Tuesday, May 23rd. UBS AG raised Union Bankshares Corporation from an outperform rating to a strong-buy rating and set a $41.00 target price on the stock in a report on Wednesday, May 24th. Raymond James Financial, Inc. raised Union Bankshares Corporation from an outperform rating to a strong-buy rating in a report on Wednesday, May 24th. BidaskClub raised Union Bankshares Corporation from a sell rating to a hold rating in a report on Saturday, June 10th. Finally, Zacks Investment Research lowered Union Bankshares Corporation from a hold rating to a sell rating in a report on Tuesday, July 25th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $39.25.

Union Bankshares Corporation (NASDAQ UBSH) opened at 31.33 on Friday. Union Bankshares Corporation has a one year low of $26.13 and a one year high of $39.37. The firm’s 50-day moving average price is $31.64 and its 200 day moving average price is $33.93. The firm has a market cap of $1.37 billion, a P/E ratio of 17.46 and a beta of 1.24.

Union Bankshares Corporation (NASDAQ:UBSH) last posted its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.46 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.46. The firm had revenue of $87.06 million for the quarter, compared to analyst estimates of $89.67 million. Union Bankshares Corporation had a return on equity of 7.97% and a net margin of 20.42%. On average, equities research analysts forecast that Union Bankshares Corporation will post $1.86 EPS for the current year.

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The firm also recently announced a quarterly dividend, which was paid on Friday, August 18th. Investors of record on Friday, August 4th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date was Wednesday, August 2nd. Union Bankshares Corporation’s payout ratio is presently 44.44%.

Hedge funds have recently bought and sold shares of the stock. Dynamic Technology Lab Private Ltd increased its holdings in shares of Union Bankshares Corporation by 75.5% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 12,323 shares of the financial services provider’s stock worth $433,000 after acquiring an additional 5,303 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Union Bankshares Corporation by 17.5% during the 1st quarter. Principal Financial Group Inc. now owns 411,966 shares of the financial services provider’s stock worth $14,494,000 after acquiring an additional 61,460 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Union Bankshares Corporation by 5.5% during the 1st quarter. Bank of New York Mellon Corp now owns 304,892 shares of the financial services provider’s stock worth $10,726,000 after acquiring an additional 15,940 shares during the last quarter. Teachers Advisors LLC increased its holdings in shares of Union Bankshares Corporation by 22.8% during the 4th quarter. Teachers Advisors LLC now owns 98,124 shares of the financial services provider’s stock worth $3,507,000 after acquiring an additional 18,247 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Union Bankshares Corporation by 1.5% during the 1st quarter. Bank of America Corp DE now owns 157,622 shares of the financial services provider’s stock worth $5,545,000 after acquiring an additional 2,344 shares during the last quarter. 64.59% of the stock is currently owned by institutional investors and hedge funds.

About Union Bankshares Corporation

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.

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