Deutsche Bank AG reduced its position in shares of Union Bankshares Co. (NASDAQ:UBSH) by 17.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 110,083 shares of the financial services provider’s stock after selling 23,466 shares during the period. Deutsche Bank AG owned approximately 0.17% of Union Bankshares worth $3,978,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently added to or reduced their stakes in the stock. Pitcairn Co. raised its holdings in Union Bankshares by 55.1% in the 4th quarter. Pitcairn Co. now owns 10,871 shares of the financial services provider’s stock valued at $393,000 after acquiring an additional 3,861 shares in the last quarter. Koch Industries Inc. acquired a new position in Union Bankshares in the 4th quarter valued at $363,000. Kennedy Capital Management Inc. raised its holdings in Union Bankshares by 23.4% in the 4th quarter. Kennedy Capital Management Inc. now owns 455,355 shares of the financial services provider’s stock valued at $16,470,000 after acquiring an additional 86,497 shares in the last quarter. Geode Capital Management LLC raised its holdings in Union Bankshares by 24.9% in the 4th quarter. Geode Capital Management LLC now owns 496,304 shares of the financial services provider’s stock valued at $17,951,000 after acquiring an additional 98,920 shares in the last quarter. Finally, Amalgamated Bank acquired a new position in Union Bankshares in the 4th quarter valued at $209,000. 47.44% of the stock is owned by institutional investors and hedge funds.
In other news, Director G William Beale sold 32,064 shares of Union Bankshares stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $39.67, for a total value of $1,271,978.88. Following the transaction, the director now owns 84,333 shares in the company, valued at approximately $3,345,490.11. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.64% of the company’s stock.
Shares of UBSH opened at $36.19 on Wednesday. Union Bankshares Co. has a 52-week low of $29.50 and a 52-week high of $39.80. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market capitalization of $2,388.86, a PE ratio of 18.95 and a beta of 1.14.
Union Bankshares (NASDAQ:UBSH) last issued its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.01. Union Bankshares had a return on equity of 8.09% and a net margin of 18.15%. The company had revenue of $90.64 million for the quarter, compared to analyst estimates of $91.35 million. equities research analysts expect that Union Bankshares Co. will post 2.51 earnings per share for the current year.
Several equities analysts have weighed in on UBSH shares. Zacks Investment Research raised Union Bankshares from a “hold” rating to a “strong-buy” rating and set a $44.00 price objective for the company in a report on Saturday, January 13th. Brean Capital reaffirmed a “hold” rating on shares of Union Bankshares in a report on Thursday, April 5th. Merion Capital Group lifted their price objective on Union Bankshares from $45.00 to $47.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Sandler O’Neill set a $39.00 price objective on Union Bankshares and gave the company a “hold” rating in a report on Thursday, January 4th. Finally, BidaskClub cut Union Bankshares from a “hold” rating to a “sell” rating in a report on Wednesday, January 3rd. Five investment analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $41.80.
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About Union Bankshares
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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