Phocas Financial Corp. lowered its holdings in Union Bankshares Corp (NASDAQ:UBSH) by 0.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 286,202 shares of the financial services provider’s stock after selling 2,689 shares during the period. Phocas Financial Corp. owned about 0.43% of Union Bankshares worth $11,128,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Bank of Montreal Can boosted its position in Union Bankshares by 1,092.6% in the second quarter. Bank of Montreal Can now owns 2,731 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 2,502 shares during the last quarter. Strs Ohio purchased a new position in Union Bankshares in the second quarter worth $116,000. Ladenburg Thalmann Financial Services Inc. boosted its position in Union Bankshares by 67.0% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,490 shares of the financial services provider’s stock worth $128,000 after purchasing an additional 1,400 shares during the last quarter. SG Americas Securities LLC purchased a new position in Union Bankshares in the first quarter worth $166,000. Finally, CIBC Private Wealth Group LLC boosted its position in Union Bankshares by 367.4% in the second quarter. CIBC Private Wealth Group LLC now owns 4,987 shares of the financial services provider’s stock worth $194,000 after purchasing an additional 3,920 shares during the last quarter. 75.11% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ UBSH opened at $40.21 on Wednesday. Union Bankshares Corp has a one year low of $31.77 and a one year high of $42.74. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market cap of $2.69 billion, a PE ratio of 21.05 and a beta of 1.18.

Union Bankshares (NASDAQ:UBSH) last issued its quarterly earnings results on Wednesday, July 18th. The financial services provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.20. Union Bankshares had a return on equity of 9.47% and a net margin of 18.94%. The firm had revenue of $148.77 million for the quarter, compared to analysts’ expectations of $130.36 million. research analysts expect that Union Bankshares Corp will post 2.77 EPS for the current fiscal year.

In related news, Director Frederick Blair Wimbush acquired 1,200 shares of the firm’s stock in a transaction that occurred on Tuesday, July 24th. The shares were bought at an average cost of $41.65 per share, for a total transaction of $49,980.00. Following the purchase, the director now owns 1,200 shares in the company, valued at approximately $49,980. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director G William Beale sold 1,000 shares of the business’s stock in a transaction on Monday, August 20th. The shares were sold at an average price of $41.56, for a total value of $41,560.00. The disclosure for this sale can be found here. 1.64% of the stock is owned by corporate insiders.

Several research analysts have weighed in on the company. BidaskClub raised Union Bankshares from a “sell” rating to a “hold” rating in a research report on Thursday, September 6th. Zacks Investment Research raised Union Bankshares from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research report on Tuesday, September 4th. Brean Capital reaffirmed a “hold” rating on shares of Union Bankshares in a research report on Monday, August 27th. ValuEngine cut Union Bankshares from a “buy” rating to a “hold” rating in a research report on Monday, June 11th. Finally, Raymond James upped their price target on Union Bankshares from $45.00 to $47.00 and gave the company a “strong-buy” rating in a research report on Monday, August 20th. One research analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Union Bankshares currently has a consensus rating of “Hold” and a consensus target price of $44.60.

Union Bankshares Profile

Union Bankshares Corporation operates as the bank holding company for Union Bank & Trust that provides banking and related financial services to consumers and businesses. The company operates in two segments, Community Bank and Mortgage. It accepts various deposit products, including checking, savings, NOW, time deposit, and money market accounts, as well as certificates of deposit and other depository services.

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

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