Union Bankshares (UBSH) Given Buy Rating at Brean Capital

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Union Bankshares (NASDAQ:UBSH)‘s stock had its “buy” rating reissued by stock analysts at Brean Capital in a research report issued to clients and investors on Wednesday, October 17th, Marketbeat Ratings reports. They currently have a $42.00 target price on the financial services provider’s stock. Brean Capital’s target price points to a potential upside of 22.20% from the company’s previous close.

Several other equities research analysts have also issued reports on UBSH. BidaskClub raised Union Bankshares from a “hold” rating to a “buy” rating in a research report on Saturday, June 23rd. Zacks Investment Research lowered Union Bankshares from a “hold” rating to a “sell” rating in a research report on Saturday, July 7th. Finally, Raymond James increased their price target on Union Bankshares from $45.00 to $47.00 and gave the stock a “strong-buy” rating in a research note on Monday, August 20th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Union Bankshares has an average rating of “Hold” and an average price target of $44.14.

Shares of Union Bankshares stock traded down $0.60 during trading hours on Wednesday, hitting $34.37. 255,981 shares of the company’s stock traded hands, compared to its average volume of 428,378. Union Bankshares has a 12-month low of $32.04 and a 12-month high of $42.74. The firm has a market cap of $2.30 billion, a PE ratio of 17.99 and a beta of 1.23. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.89 and a quick ratio of 0.93.

Union Bankshares (NASDAQ:UBSH) last announced its earnings results on Wednesday, October 17th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.03). Union Bankshares had a net margin of 20.38% and a return on equity of 9.36%. The business had revenue of $125.85 million for the quarter, compared to analysts’ expectations of $132.49 million. As a group, equities analysts anticipate that Union Bankshares will post 2.75 EPS for the current fiscal year.

In other news, Director G William Beale sold 1,000 shares of the stock in a transaction on Thursday, September 20th. The stock was sold at an average price of $40.45, for a total transaction of $40,450.00. Following the completion of the transaction, the director now owns 100,462 shares in the company, valued at approximately $4,063,687.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.18% of the stock is currently owned by corporate insiders.

Several hedge funds have recently bought and sold shares of UBSH. BlackRock Inc. grew its stake in shares of Union Bankshares by 20.4% during the 2nd quarter. BlackRock Inc. now owns 4,314,648 shares of the financial services provider’s stock worth $167,754,000 after acquiring an additional 732,232 shares during the period. Jennison Associates LLC boosted its stake in Union Bankshares by 263.2% in the 3rd quarter. Jennison Associates LLC now owns 857,694 shares of the financial services provider’s stock worth $33,047,000 after purchasing an additional 621,560 shares during the period. Segall Bryant & Hamill LLC bought a new position in Union Bankshares in the 2nd quarter worth about $17,012,000. Dimensional Fund Advisors LP boosted its stake in Union Bankshares by 9.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,338,528 shares of the financial services provider’s stock worth $168,684,000 after purchasing an additional 375,560 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in Union Bankshares by 151.8% in the 2nd quarter. Victory Capital Management Inc. now owns 434,290 shares of the financial services provider’s stock worth $16,885,000 after purchasing an additional 261,838 shares during the period. Institutional investors own 75.52% of the company’s stock.

Union Bankshares Company 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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Analyst Recommendations for Union Bankshares (NASDAQ:UBSH)

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