Commonwealth Equity Services Inc Acquires 70,009 Shares of Union Bankshares Corp (NASDAQ:UBSH)

Commonwealth Equity Services Inc lifted its position in shares of Union Bankshares Corp (NASDAQ:UBSH) by 1,014.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 76,908 shares of the financial services provider’s stock after purchasing an additional 70,009 shares during the period. Commonwealth Equity Services Inc owned 0.18% of Union Bankshares worth $2,714,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its holdings in Union Bankshares by 59.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,792,680 shares of the financial services provider’s stock valued at $63,282,000 after purchasing an additional 671,092 shares during the period. Investment Counselors of Maryland LLC bought a new stake in shares of Union Bankshares during the 3rd quarter worth approximately $2,905,000. Principal Financial Group Inc. lifted its holdings in shares of Union Bankshares by 7.2% during the 3rd quarter. Principal Financial Group Inc. now owns 532,268 shares of the financial services provider’s stock worth $18,789,000 after acquiring an additional 35,711 shares during the period. Outfitter Advisors LTD. lifted its holdings in shares of Union Bankshares by 22.9% during the 3rd quarter. Outfitter Advisors LTD. now owns 56,525 shares of the financial services provider’s stock worth $1,995,000 after acquiring an additional 10,545 shares during the period. Finally, Monarch Partners Asset Management LLC bought a new stake in shares of Union Bankshares during the 3rd quarter worth approximately $3,166,000. Institutional investors own 65.04% of the company’s stock.

UBSH has been the subject of several research reports. ValuEngine raised shares of Union Bankshares from a “hold” rating to a “buy” rating in a research note on Saturday, September 30th. Zacks Investment Research raised shares of Union Bankshares from a “sell” rating to a “hold” rating in a research note on Wednesday, September 6th. Finally, Brean Capital restated a “hold” rating on shares of Union Bankshares in a research report on Tuesday, October 24th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Union Bankshares has an average rating of “Buy” and an average price target of $39.33.

Union Bankshares Corp (NASDAQ UBSH) traded down $0.38 on Thursday, hitting $37.24. 374,864 shares of the stock traded hands, compared to its average volume of 166,577. Union Bankshares Corp has a 52 week low of $29.50 and a 52 week high of $39.37. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market capitalization of $1,651.76, a PE ratio of 20.20 and a beta of 1.27.

Union Bankshares (NASDAQ:UBSH) last posted its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.49 EPS for the quarter, hitting analysts’ consensus estimates of $0.49. The business had revenue of $88.73 million during the quarter, compared to analysts’ expectations of $91.68 million. Union Bankshares had a net margin of 20.02% and a return on equity of 7.98%. equities research analysts anticipate that Union Bankshares Corp will post 1.86 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, November 27th. Shareholders of record on Monday, November 13th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.26%. This is a boost from Union Bankshares’s previous quarterly dividend of $0.20. The ex-dividend date was Friday, November 10th. Union Bankshares’s dividend payout ratio (DPR) is presently 46.67%.

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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.

Institutional Ownership by Quarter for Union Bankshares (NASDAQ:UBSH)

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