Union Bankshares Corporation (NASDAQ:UBSH) Given Consensus Recommendation of “Buy” by Brokerages

Union Bankshares Corporation (NASDAQ:UBSH) has been assigned an average rating of “Buy” from the eight research firms that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, one has given a hold recommendation, three have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $39.33.

Several brokerages have recently commented on UBSH. Brean Capital reaffirmed a “hold” rating on shares of Union Bankshares Corporation in a research note on Wednesday, August 2nd. BidaskClub lowered Union Bankshares Corporation from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 25th. Zacks Investment Research lowered Union Bankshares Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. ValuEngine raised Union Bankshares Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 16th. Finally, Raymond James Financial, Inc. raised Union Bankshares Corporation from an “outperform” rating to a “strong-buy” rating in a research note on Wednesday, May 24th.

Union Bankshares Corporation (UBSH) traded up 0.75% during mid-day trading on Tuesday, reaching $32.11. The company’s stock had a trading volume of 34,834 shares. Union Bankshares Corporation has a 12-month low of $26.13 and a 12-month high of $39.37. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of 17.90 and a beta of 1.23. The firm’s 50 day moving average price is $33.29 and its 200 day moving average price is $34.60.

Union Bankshares Corporation (NASDAQ:UBSH) last announced its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.46 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.46. Union Bankshares Corporation had a return on equity of 8.01% and a net margin of 20.42%. The business had revenue of $87.06 million for the quarter, compared to analyst estimates of $89.67 million. On average, equities analysts predict that Union Bankshares Corporation will post $1.86 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, August 18th. Investors of record on Friday, August 4th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.51%. The ex-dividend date of this dividend is Wednesday, August 2nd. Union Bankshares Corporation’s payout ratio is 44.44%.

A number of institutional investors have recently bought and sold shares of UBSH. Bronfman E.L. Rothschild L.P. raised its position in Union Bankshares Corporation by 2.3% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 3,107 shares of the financial services provider’s stock valued at $109,000 after buying an additional 70 shares during the last quarter. SG Americas Securities LLC purchased a new position in Union Bankshares Corporation during the second quarter valued at about $119,000. Ameritas Investment Partners Inc. purchased a new position in Union Bankshares Corporation during the first quarter valued at about $122,000. Victory Capital Management Inc. raised its position in Union Bankshares Corporation by 17.6% in the second quarter. Victory Capital Management Inc. now owns 5,230 shares of the financial services provider’s stock valued at $177,000 after buying an additional 783 shares during the last quarter. Finally, 361 Capital LLC purchased a new position in Union Bankshares Corporation during the first quarter valued at about $204,000. 60.57% of the stock is currently owned by hedge funds and other institutional investors.

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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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