Union Bankshares Corp (UBSH) Shares Bought by California Public Employees Retirement System
California Public Employees Retirement System raised its stake in shares of Union Bankshares Corp (NASDAQ:UBSH) by 9.6% during the third quarter, HoldingsChannel.com reports. The firm owned 74,338 shares of the financial services provider’s stock after buying an additional 6,538 shares during the quarter. California Public Employees Retirement System’s holdings in Union Bankshares were worth $2,624,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of UBSH. Schwab Charles Investment Management Inc. increased its position in Union Bankshares by 5.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 205,604 shares of the financial services provider’s stock valued at $6,970,000 after purchasing an additional 10,318 shares during the period. SG Americas Securities LLC purchased a new position in Union Bankshares during the 2nd quarter valued at $119,000. Legal & General Group Plc increased its position in Union Bankshares by 1.8% during the 2nd quarter. Legal & General Group Plc now owns 16,440 shares of the financial services provider’s stock valued at $558,000 after purchasing an additional 289 shares during the period. BNP Paribas Arbitrage SA increased its position in Union Bankshares by 895.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 6,229 shares of the financial services provider’s stock valued at $211,000 after purchasing an additional 5,603 shares during the period. Finally, Victory Capital Management Inc. increased its position in Union Bankshares by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 5,230 shares of the financial services provider’s stock valued at $177,000 after purchasing an additional 783 shares during the period. 65.04% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have issued reports on UBSH shares. ValuEngine raised shares of Union Bankshares from a “hold” rating to a “buy” rating in a research report on Saturday, September 30th. Zacks Investment Research raised shares of Union Bankshares from a “sell” rating to a “hold” rating in a research report on Thursday, October 5th. Brean Capital reissued a “hold” rating on shares of Union Bankshares in a research report on Tuesday, October 24th. BidaskClub cut shares of Union Bankshares from a “hold” rating to a “sell” rating in a report on Wednesday, January 3rd. Finally, Sandler O’Neill set a $39.00 target price on shares of Union Bankshares and gave the company a “hold” rating in a report on Thursday, January 4th. Four equities research analysts have rated the stock with a hold rating, two have given a buy rating and three have given a strong buy rating to the stock. Union Bankshares presently has a consensus rating of “Buy” and a consensus target price of $40.20.
In other Union Bankshares news, EVP John G. Jr. Stallings bought 1,373 shares of the company’s stock in a transaction dated Thursday, December 14th. The shares were purchased at an average price of $36.22 per share, for a total transaction of $49,730.06. Following the acquisition, the executive vice president now owns 9,582 shares in the company, valued at approximately $347,060.04. The purchase was disclosed in a filing with the SEC, which is available at this link. Insiders own 2.18% of the company’s stock.
Shares of Union Bankshares Corp (UBSH) opened at $38.45 on Wednesday. Union Bankshares Corp has a fifty-two week low of $29.50 and a fifty-two week high of $39.37. The company has a market cap of $1,680.00, a price-to-earnings ratio of 21.36 and a beta of 1.28. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.42.
Union Bankshares (NASDAQ:UBSH) last announced its earnings results on Wednesday, October 18th. The financial services provider reported $0.49 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.49. Union Bankshares had a net margin of 20.02% and a return on equity of 7.98%. The firm had revenue of $88.73 million for the quarter, compared to analysts’ expectations of $91.68 million. sell-side analysts forecast that Union Bankshares Corp will post 1.86 earnings per share for the current year.
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About Union Bankshares
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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