Wall Street analysts expect Union Bankshares Corp (NASDAQ:UBSH) to report $122.73 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Union Bankshares’ earnings, with the lowest sales estimate coming in at $122.66 million and the highest estimate coming in at $122.79 million. Union Bankshares posted sales of $85.41 million in the same quarter last year, which would indicate a positive year over year growth rate of 43.7%. The company is scheduled to issue its next quarterly earnings report on Wednesday, April 18th.
According to Zacks, analysts expect that Union Bankshares will report full-year sales of $122.73 million for the current year, with estimates ranging from $516.51 million to $519.36 million. For the next fiscal year, analysts anticipate that the business will post sales of $558.50 million per share, with estimates ranging from $546.15 million to $570.85 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Union Bankshares.
Union Bankshares (NASDAQ:UBSH) last issued its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $0.52 EPS for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.01. Union Bankshares had a return on equity of 8.12% and a net margin of 18.15%. The company had revenue of $90.64 million during the quarter, compared to analysts’ expectations of $91.35 million.
Several equities analysts have recently issued reports on the company. Zacks Investment Research cut Union Bankshares from a “hold” rating to a “sell” rating in a report on Saturday, October 21st. Brean Capital restated a “hold” rating on shares of Union Bankshares in a research note on Monday, October 30th. BidaskClub upgraded Union Bankshares from a “sell” rating to a “hold” rating in a research note on Thursday, January 11th. Finally, Merion Capital Group lifted their price target on Union Bankshares from $45.00 to $47.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Five research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company. Union Bankshares has an average rating of “Buy” and an average target price of $41.80.
Shares of Union Bankshares (UBSH) traded up $0.24 during mid-day trading on Tuesday, hitting $38.29. The stock had a trading volume of 380,620 shares, compared to its average volume of 456,822. The firm has a market cap of $2,470.56, a PE ratio of 22.93 and a beta of 1.21. 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 fifty-two week low of $29.50 and a fifty-two week high of $39.37.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 20th. Shareholders of record on Tuesday, February 6th will be paid a dividend of $0.21 per share. The ex-dividend date is Monday, February 5th. This represents a $0.84 annualized dividend and a yield of 2.19%. Union Bankshares’s dividend payout ratio (DPR) is currently 50.30%.
In other news, EVP John G. Jr. Stallings acquired 1,373 shares of the business’s stock in a transaction on Thursday, December 14th. The stock was bought at an average cost of $36.22 per share, for a total transaction of $49,730.06. Following the purchase, the executive vice president now owns 9,582 shares in the company, valued at $347,060.04. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.18% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of UBSH. Ameritas Investment Partners Inc. grew its position in shares of Union Bankshares by 8.8% in the second quarter. Ameritas Investment Partners Inc. now owns 3,789 shares of the financial services provider’s stock valued at $128,000 after purchasing an additional 307 shares in the last quarter. US Bancorp DE grew its position in shares of Union Bankshares by 101.5% in the fourth quarter. US Bancorp DE now owns 4,263 shares of the financial services provider’s stock valued at $154,000 after purchasing an additional 2,147 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Union Bankshares in the fourth quarter valued at approximately $201,000. BB&T Securities LLC purchased a new stake in shares of Union Bankshares in the fourth quarter valued at approximately $205,000. Finally, Amalgamated Bank purchased a new stake in shares of Union Bankshares in the fourth quarter valued at approximately $209,000. Institutional investors own 64.98% of the company’s stock.
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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