Union Bankshares (UBSH) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Union Bankshares (NASDAQ:UBSH) from a buy rating to a hold rating in a research report sent to investors on Friday. Zacks Investment Research currently has $40.00 price objective on the financial services provider’s stock.

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 research firms have also issued reports on UBSH. BidaskClub raised shares of Union Bankshares from a sell rating to a hold rating in a research report on Thursday. Brean Capital reissued a hold rating on shares of Union Bankshares in a research report on Tuesday, January 2nd. Sandler O’Neill set a $39.00 price target on shares of Union Bankshares and gave the stock a hold rating in a research report on Thursday, January 4th. Finally, ValuEngine lowered shares of Union Bankshares from a buy rating to a hold rating in a research report on Tuesday, October 10th. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and three have assigned a strong buy rating to the stock. Union Bankshares has a consensus rating of Buy and a consensus target price of $40.20.

Union Bankshares (UBSH) traded up $0.20 during midday trading on Friday, hitting $38.25. 165,352 shares of the company traded hands, compared to its average volume of 199,616. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.42. Union Bankshares has a twelve month low of $29.50 and a twelve month high of $39.37. The company has a market capitalization of $1,664.01, a PE ratio of 21.25 and a beta of 1.28.

Union Bankshares (NASDAQ:UBSH) last posted its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.49. Union Bankshares had a net margin of 20.02% and a return on equity of 7.98%. The firm had revenue of $88.73 million during the quarter, compared to analyst estimates of $91.68 million. sell-side analysts predict that Union Bankshares will post 1.86 earnings per share for the current year.

In other Union Bankshares news, EVP John G. Jr. Stallings purchased 1,373 shares of the company’s stock in a transaction that occurred on Thursday, December 14th. The stock was purchased at an average price of $36.22 per share, with a total value of $49,730.06. Following the completion of the transaction, the executive vice president now directly owns 9,582 shares of the company’s stock, valued at approximately $347,060.04. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 2.18% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of UBSH. Bank of New York Mellon Corp increased its holdings in shares of Union Bankshares by 59.8% during the third quarter. Bank of New York Mellon Corp now owns 1,792,680 shares of the financial services provider’s stock worth $63,282,000 after buying an additional 671,092 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in shares of Union Bankshares during the third quarter worth approximately $21,259,000. Dimensional Fund Advisors LP increased its holdings in shares of Union Bankshares by 4.2% during the second quarter. Dimensional Fund Advisors LP now owns 3,666,823 shares of the financial services provider’s stock worth $124,306,000 after buying an additional 146,885 shares in the last quarter. Thrivent Financial For Lutherans increased its holdings in shares of Union Bankshares by 509.7% during the second quarter. Thrivent Financial For Lutherans now owns 165,460 shares of the financial services provider’s stock worth $5,609,000 after buying an additional 138,320 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Union Bankshares by 15.9% during the second quarter. Renaissance Technologies LLC now owns 803,745 shares of the financial services provider’s stock worth $27,247,000 after buying an additional 110,040 shares in the last quarter. 64.54% of the stock is owned by institutional investors.

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About Union Bankshares

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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