Union Bankshares Corporation (UBSH) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Union Bankshares Corporation (NASDAQ:UBSH) from a sell rating to a hold rating in a report released on Thursday morning.

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 brokerages have also recently issued reports on UBSH. BidaskClub upgraded shares of Union Bankshares Corporation from a sell rating to a hold rating in a research report on Saturday, June 10th. ValuEngine upgraded shares of Union Bankshares Corporation from a hold rating to a buy rating in a research report on Friday, June 16th. Finally, Brean Capital restated a hold rating on shares of Union Bankshares Corporation in a research report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $39.33.

Union Bankshares Corporation (NASDAQ UBSH) opened at 35.39 on Thursday. Union Bankshares Corporation has a 52 week low of $26.46 and a 52 week high of $39.37. The firm has a 50-day moving average of $32.49 and a 200-day moving average of $33.31. The company has a market capitalization of $1.55 billion, a PE ratio of 19.73 and a beta of 1.25.

Union Bankshares Corporation (NASDAQ:UBSH) last announced its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.46. Union Bankshares Corporation had a net margin of 20.42% and a return on equity of 7.97%. The firm had revenue of $87.06 million during the quarter, compared to analysts’ expectations of $89.67 million. Equities analysts expect that Union Bankshares Corporation will post $1.86 earnings per share for the current fiscal year.

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A number of hedge funds and other institutional investors have recently made changes to their positions in UBSH. Bronfman E.L. Rothschild L.P. increased its position in Union Bankshares Corporation by 3.8% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 3,226 shares of the financial services provider’s stock valued at $109,000 after acquiring an additional 119 shares during the period. SG Americas Securities LLC acquired a new position in Union Bankshares Corporation in the 2nd quarter valued at approximately $119,000. Ameritas Investment Partners Inc. acquired a new position in Union Bankshares Corporation in the 1st quarter valued at approximately $122,000. Victory Capital Management Inc. increased its position in Union Bankshares Corporation by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 5,230 shares of the financial services provider’s stock valued at $177,000 after acquiring an additional 783 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. acquired a new position in Union Bankshares Corporation in the 1st quarter valued at approximately $207,000. Hedge funds and other institutional investors own 64.13% of the company’s stock.

Union Bankshares Corporation 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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