Union Bankshares (UBSH) Hits New 12-Month Low at $31.71

Union Bankshares Corp (NASDAQ:UBSH) reached a new 52-week low during trading on Thursday . The company traded as low as $31.71 and last traded at $32.24, with a volume of 14311 shares trading hands. The stock had previously closed at $32.70.

A number of research firms recently commented on UBSH. Zacks Investment Research cut shares of Union Bankshares from a “buy” rating to a “hold” rating in a research report on Tuesday, October 23rd. BidaskClub raised shares of Union Bankshares from a “sell” rating to a “hold” rating in a research report on Friday, November 23rd. Brean Capital reissued a “buy” rating on shares of Union Bankshares in a research report on Monday, October 29th. Raymond James increased their target price on shares of Union Bankshares from $45.00 to $47.00 and gave the company a “strong-buy” rating in a research report on Monday, August 20th. Finally, Compass Point lowered shares of Union Bankshares from a “buy” rating to a “hold” rating and set a $41.00 price target on the stock. in a research note on Sunday, October 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $44.14.

The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market cap of $2.15 billion, a PE ratio of 16.90 and a beta of 1.22.

Union Bankshares (NASDAQ:UBSH) last issued its quarterly earnings results on Wednesday, October 17th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.03). Union Bankshares had a net margin of 20.38% and a return on equity of 9.36%. The company had revenue of $125.85 million for the quarter, compared to analyst estimates of $132.49 million. Research analysts forecast that Union Bankshares Corp will post 2.66 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, November 23rd. Shareholders of record on Friday, November 9th were paid a dividend of $0.23 per share. The ex-dividend date was Thursday, November 8th. This represents a $0.92 dividend on an annualized basis and a yield of 2.85%. Union Bankshares’s payout ratio is 48.17%.

In other Union Bankshares news, Director G William Beale sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, September 20th. The shares were sold at an average price of $40.45, for a total transaction of $40,450.00. Following the transaction, the director now owns 100,462 shares in the company, valued at approximately $4,063,687.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.18% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. increased its stake in shares of Union Bankshares by 12.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 369,470 shares of the financial services provider’s stock worth $14,365,000 after acquiring an additional 39,691 shares during the period. Wills Financial Group Inc. acquired a new stake in shares of Union Bankshares in the second quarter worth $209,000. Victory Capital Management Inc. increased its stake in shares of Union Bankshares by 151.8% in the second quarter. Victory Capital Management Inc. now owns 434,290 shares of the financial services provider’s stock worth $16,885,000 after acquiring an additional 261,838 shares during the period. Teton Advisors Inc. increased its stake in shares of Union Bankshares by 30.4% in the third quarter. Teton Advisors Inc. now owns 27,880 shares of the financial services provider’s stock worth $1,074,000 after acquiring an additional 6,500 shares during the period. Finally, First Hawaiian Bank acquired a new stake in shares of Union Bankshares in the third quarter worth $411,000. Hedge funds and other institutional investors own 77.45% of the company’s stock.

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About Union Bankshares (NASDAQ:UBSH)

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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