Brean Capital set a $42.00 price objective on Union Bankshares (NASDAQ:UBSH) in a research note released on Friday morning. The firm currently has a buy rating on the financial services provider’s stock.
A number of other analysts have also weighed in on the stock. BidaskClub upgraded shares of Union Bankshares from a strong sell rating to a sell rating in a report on Tuesday, October 30th. Zacks Investment Research lowered shares of Union Bankshares from a buy rating to a hold rating in a report on Tuesday, October 23rd. Sandler O’Neill upgraded shares of Union Bankshares from a hold rating to a buy rating and set a $42.00 target price for the company in a report on Thursday, October 18th. ValuEngine lowered shares of Union Bankshares from a hold rating to a sell rating in a report on Wednesday, October 17th. Finally, Compass Point upgraded shares of Union Bankshares from a neutral rating to a buy rating in a report on Wednesday, October 17th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $44.14.
NASDAQ UBSH traded up $0.39 during trading on Friday, hitting $34.72. 215,759 shares of the company’s stock traded hands, compared to its average volume of 371,887. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.26. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of 13.36 and a beta of 1.23. Union Bankshares has a 12-month low of $32.04 and a 12-month high of $42.74.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 23rd. Investors of record on Friday, November 9th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date of this dividend is Thursday, November 8th. Union Bankshares’s payout ratio is currently 48.17%.
In related news, Director G William Beale sold 1,000 shares of the stock in a transaction dated Thursday, September 20th. The shares were sold at an average price of $40.45, for a total value of $40,450.00. Following the completion of the transaction, the director now directly owns 100,462 shares of the company’s stock, valued at $4,063,687.90. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.18% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Teachers Advisors LLC raised its stake in Union Bankshares by 2.5% in the third quarter. Teachers Advisors LLC now owns 138,484 shares of the financial services provider’s stock worth $5,336,000 after buying an additional 3,341 shares in the last quarter. Resources Management Corp CT ADV bought a new position in Union Bankshares in the third quarter worth about $288,000. Glenmede Trust Co. NA raised its stake in Union Bankshares by 40.6% in the third quarter. Glenmede Trust Co. NA now owns 17,379 shares of the financial services provider’s stock worth $669,000 after buying an additional 5,020 shares in the last quarter. BRYN MAWR TRUST Co raised its stake in Union Bankshares by 0.9% in the third quarter. BRYN MAWR TRUST Co now owns 246,546 shares of the financial services provider’s stock worth $9,499,000 after buying an additional 2,103 shares in the last quarter. Finally, MetLife Investment Advisors LLC raised its stake in Union Bankshares by 55.2% in the third quarter. MetLife Investment Advisors LLC now owns 46,593 shares of the financial services provider’s stock worth $1,795,000 after buying an additional 16,563 shares in the last quarter. 75.59% of the stock is owned by institutional investors.
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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