Union Bankshares (UBSH) Stock Rating Lowered by Zacks Investment Research
Union Bankshares (NASDAQ:UBSH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday.
According to Zacks, “Union Bankshares Corporation is the holding company for Union First Market Bank. The Company operates through two segments, Community Bank and Mortgage. The Banks offer a wide range of banking and related financial services including checking, savings, certificates of deposit and other depository services, discount brokerage services, and a variety of loans. It provides credit cards, automated teller machine services, Internet banking services, and online bill payment services, as well as private banking and trust services to individuals and corporations. Union Bankshares Corporation, formerly Union First Market Bankshares Corporation, is headquartered in Richmond, Virginia. “
Several other equities analysts have also recently weighed in on the company. Brean Capital restated a “hold” rating on shares of Union Bankshares in a report on Monday, February 5th. Merion Capital Group raised their price objective on Union Bankshares from $45.00 to $47.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. BidaskClub upgraded Union Bankshares from a “sell” rating to a “hold” rating in a report on Thursday, January 11th. Finally, Sandler O’Neill set a $39.00 price objective on Union Bankshares and gave the company a “hold” rating in a report on Thursday, January 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $41.80.
Union Bankshares (NASDAQ:UBSH) last announced its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $0.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.01. The company had revenue of $90.64 million during the quarter, compared to analysts’ expectations of $91.35 million. Union Bankshares had a return on equity of 8.09% and a net margin of 18.15%. sell-side analysts anticipate that Union Bankshares will post 2.51 earnings per share for the current fiscal year.
In other Union Bankshares news, EVP John G. Jr. Stallings purchased 1,373 shares of Union Bankshares stock in a transaction that occurred on Thursday, December 14th. The stock was acquired at an average price of $36.22 per share, for a total transaction of $49,730.06. Following the completion of the acquisition, the executive vice president now owns 9,582 shares of the company’s stock, valued at approximately $347,060.04. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.18% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. US Bancorp DE grew its holdings in Union Bankshares by 101.5% during the fourth quarter. US Bancorp DE now owns 4,263 shares of the financial services provider’s stock worth $154,000 after purchasing an additional 2,147 shares during the period. Virtu Financial LLC bought a new position in Union Bankshares during the fourth quarter worth about $201,000. BB&T Securities LLC bought a new position in Union Bankshares during the fourth quarter worth about $205,000. Amalgamated Bank bought a new position in Union Bankshares during the fourth quarter worth about $209,000. Finally, Canal Capital Management LLC bought a new position in Union Bankshares during the fourth quarter worth about $238,000. Institutional investors and hedge funds own 47.60% of the company’s stock.
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Union Bankshares 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.
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