Principal Financial Group Inc. increased its holdings in shares of Union Bankshares Corporation (NASDAQ:UBSH) by 20.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 496,557 shares of the financial services provider’s stock after purchasing an additional 84,591 shares during the period. Principal Financial Group Inc. owned 1.14% of Union Bankshares Corporation worth $16,833,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in UBSH. BlackRock Inc. boosted its stake in shares of Union Bankshares Corporation by 15,378.0% during the first quarter. BlackRock Inc. now owns 3,105,815 shares of the financial services provider’s stock valued at $109,261,000 after purchasing an additional 3,085,749 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Union Bankshares Corporation by 267.9% during the second quarter. Bank of New York Mellon Corp now owns 1,121,588 shares of the financial services provider’s stock valued at $38,022,000 after purchasing an additional 816,696 shares in the last quarter. Teachers Advisors LLC boosted its stake in shares of Union Bankshares Corporation by 306.9% during the first quarter. Teachers Advisors LLC now owns 399,241 shares of the financial services provider’s stock valued at $14,045,000 after purchasing an additional 301,117 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Union Bankshares Corporation by 2.9% during the first quarter. Dimensional Fund Advisors LP now owns 3,519,938 shares of the financial services provider’s stock valued at $123,832,000 after purchasing an additional 100,474 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Union Bankshares Corporation by 4.6% during the first quarter. Vanguard Group Inc. now owns 2,077,123 shares of the financial services provider’s stock valued at $73,073,000 after purchasing an additional 90,397 shares in the last quarter. Hedge funds and other institutional investors own 64.59% of the company’s stock.

A number of equities analysts have recently issued reports on UBSH shares. Keefe, Bruyette & Woods upgraded shares of Union Bankshares Corporation from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $37.00 to $38.00 in a research note on Tuesday, May 23rd. UBS AG upgraded shares of Union Bankshares Corporation from an “outperform” rating to a “strong-buy” rating and set a $41.00 price objective on the stock in a research note on Wednesday, May 24th. Raymond James Financial, Inc. upgraded shares of Union Bankshares Corporation from an “outperform” rating to a “strong-buy” rating in a research note on Wednesday, May 24th. BidaskClub upgraded shares of Union Bankshares Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Finally, ValuEngine upgraded shares of Union Bankshares Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $39.25.

Shares of Union Bankshares Corporation (NASDAQ UBSH) opened at 31.50 on Friday. The firm has a 50-day moving average of $31.41 and a 200 day moving average of $33.54. Union Bankshares Corporation has a 52 week low of $26.13 and a 52 week high of $39.37. The firm has a market capitalization of $1.38 billion, a P/E ratio of 17.56 and a beta of 1.24.

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

The firm also recently announced a quarterly dividend, which was paid on Friday, August 18th. Investors of record on Friday, August 4th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.54%. The ex-dividend date was Wednesday, August 2nd. Union Bankshares Corporation’s payout ratio is currently 44.44%.

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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.

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

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