Union Bankshares Corp (UBSH) Receives Average Recommendation of “Buy” from Brokerages

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Shares of Union Bankshares Corp (NASDAQ:UBSH) have received an average recommendation of “Buy” from the ten ratings firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $41.20.

A number of equities analysts have recently commented on UBSH shares. BidaskClub raised shares of Union Bankshares from a “hold” rating to a “buy” rating in a report on Thursday, February 14th. ValuEngine cut shares of Union Bankshares from a “hold” rating to a “sell” rating in a report on Wednesday, March 20th. Boenning Scattergood started coverage on shares of Union Bankshares in a report on Wednesday, March 20th. They issued a “neutral” rating on the stock. Raymond James lifted their target price on shares of Union Bankshares from $37.00 to $42.00 and gave the company a “strong-buy” rating in a report on Friday, March 15th. Finally, Zacks Investment Research cut shares of Union Bankshares from a “hold” rating to a “sell” rating in a report on Friday, May 17th.

Shares of NASDAQ:UBSH opened at $34.51 on Monday. The company has a market cap of $2.94 billion, a PE ratio of 12.73 and a beta of 1.42. 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 twelve month low of $26.48 and a twelve month high of $42.74.

Union Bankshares (NASDAQ:UBSH) last issued its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.02). The company had revenue of $152.49 million for the quarter, compared to analysts’ expectations of $154.45 million. Union Bankshares had a return on equity of 9.35% and a net margin of 24.34%. On average, equities research analysts forecast that Union Bankshares will post 2.77 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be issued a $0.23 dividend. The ex-dividend date is Thursday, May 16th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.67%. Union Bankshares’s payout ratio is 33.95%.

Several institutional investors have recently made changes to their positions in the company. Legal & General Group Plc increased its stake in Union Bankshares by 13.9% in the 3rd quarter. Legal & General Group Plc now owns 24,076 shares of the financial services provider’s stock valued at $927,000 after buying an additional 2,933 shares during the period. Vanguard Group Inc. increased its stake in Union Bankshares by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 5,459,050 shares of the financial services provider’s stock valued at $210,337,000 after buying an additional 78,828 shares during the period. Bank of Montreal Can increased its stake in Union Bankshares by 32.9% in the 4th quarter. Bank of Montreal Can now owns 3,313 shares of the financial services provider’s stock valued at $93,000 after buying an additional 820 shares during the period. Shine Investment Advisory Services Inc. increased its stake in Union Bankshares by 21.7% in the 4th quarter. Shine Investment Advisory Services Inc. now owns 2,000 shares of the financial services provider’s stock valued at $56,000 after buying an additional 356 shares during the period. Finally, Tributary Capital Management LLC increased its stake in Union Bankshares by 21.9% in the 4th quarter. Tributary Capital Management LLC now owns 552,503 shares of the financial services provider’s stock valued at $15,597,000 after buying an additional 99,153 shares during the period. 64.38% of the stock is currently owned by institutional investors and hedge funds.

Union Bankshares Company Profile

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.

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Analyst Recommendations for Union Bankshares (NASDAQ:UBSH)

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