Canal Capital Management LLC trimmed its holdings in Union Bankshares Corp (NASDAQ:UBSH) by 1.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,888 shares of the financial services provider’s stock after selling 399 shares during the period. Canal Capital Management LLC’s holdings in Union Bankshares were worth $731,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in UBSH. Janney Montgomery Scott LLC raised its stake in shares of Union Bankshares by 7.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 26,294 shares of the financial services provider’s stock worth $742,000 after acquiring an additional 1,738 shares in the last quarter. Rhumbline Advisers increased its position in Union Bankshares by 42.0% during the 4th quarter. Rhumbline Advisers now owns 95,588 shares of the financial services provider’s stock valued at $2,698,000 after purchasing an additional 28,291 shares during the period. Teton Advisors Inc. increased its position in Union Bankshares by 31.6% during the 4th quarter. Teton Advisors Inc. now owns 36,680 shares of the financial services provider’s stock valued at $1,035,000 after purchasing an additional 8,800 shares during the period. Vaughan Nelson Investment Management L.P. increased its position in Union Bankshares by 6.2% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,754,825 shares of the financial services provider’s stock valued at $49,538,000 after purchasing an additional 102,335 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Union Bankshares by 25.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,083 shares of the financial services provider’s stock valued at $115,000 after purchasing an additional 837 shares during the period. 77.53% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have issued reports on UBSH. Sandler O’Neill raised shares of Union Bankshares from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a research report on Thursday, October 18th. Brean Capital reissued a “buy” rating and set a $42.00 price objective on shares of Union Bankshares in a research report on Thursday, October 18th. ValuEngine downgraded shares of Union Bankshares from a “hold” rating to a “sell” rating in a research report on Wednesday, October 17th. Compass Point raised shares of Union Bankshares from a “neutral” rating to a “buy” rating in a research report on Wednesday, October 17th. Finally, BidaskClub cut shares of Union Bankshares from a “sell” rating to a “strong sell” rating in a report on Friday, October 19th. Two analysts have rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $42.57.
Shares of UBSH stock opened at $33.09 on Monday. Union Bankshares Corp has a 12 month low of $26.48 and a 12 month high of $42.74. The firm has a market cap of $2.18 billion, a PE ratio of 12.21 and a beta of 1.39. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.26.
Union Bankshares (NASDAQ:UBSH) last announced its earnings results on Tuesday, January 22nd. The financial services provider reported $0.70 EPS for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.02. Union Bankshares had a net margin of 23.02% and a return on equity of 9.60%. The firm had revenue of $132.58 million for the quarter, compared to analysts’ expectations of $131.01 million. As a group, analysts expect that Union Bankshares Corp will post 2.88 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 22nd. Stockholders of record on Friday, February 8th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date of this dividend is Thursday, February 7th. Union Bankshares’s dividend payout ratio (DPR) is presently 33.95%.
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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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