Union Bankshares (UBSH) Lowered to Buy at BidaskClub
Other equities research analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Union Bankshares from a “hold” rating to a “sell” rating in a research note on Saturday, January 19th. Raymond James increased their target price on shares of Union Bankshares from $37.00 to $42.00 and gave the stock a “strong-buy” rating in a research note on Friday, March 15th. ValuEngine raised shares of Union Bankshares from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. Finally, Boenning Scattergood assumed coverage on shares of Union Bankshares in a research note on Wednesday, March 20th. They set a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $41.86.
Shares of UBSH stock traded down $0.57 during mid-day trading on Wednesday, hitting $35.04. 292,700 shares of the stock were exchanged, compared to its average volume of 342,543. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.30. Union Bankshares has a 52-week low of $26.48 and a 52-week high of $42.74. The firm has a market cap of $2.87 billion, a P/E ratio of 12.93 and a beta of 1.42.
A number of institutional investors have recently modified their holdings of the stock. Pearl River Capital LLC lifted its stake in Union Bankshares by 658.8% in the 1st quarter. Pearl River Capital LLC now owns 774 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 672 shares in the last quarter. Fifth Third Bancorp purchased a new position in Union Bankshares in the 1st quarter worth approximately $28,000. Private Capital Group LLC lifted its stake in Union Bankshares by 110.7% in the 1st quarter. Private Capital Group LLC now owns 1,020 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 536 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Union Bankshares in the 1st quarter worth approximately $34,000. Finally, Investors Research Corp purchased a new position in Union Bankshares in the 1st quarter worth approximately $52,000. 64.38% of the stock is currently owned by hedge funds and other institutional investors.
About Union Bankshares
Union Bankshares Corporation operates as the holding company for Union Bank & Trust that provides banking and related financial services to consumers and businesses. 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.
Further Reading: What are the qualifications of a portfolio manager?
Receive News & Ratings for Union Bankshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Union Bankshares and related companies with MarketBeat.com's FREE daily email newsletter.