Union Bankshares Corporation (UBSH) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Union Bankshares Corporation (NASDAQ:UBSH) from a hold rating to a sell rating in a report issued on Saturday morning.

According to Zacks, “Union Bankshares Corporation is the holding company for Union First Market Bank. The Company operates through two segments, Community Bank and Mortgage. The Banks offer a wide range of banking and related financial services including checking, savings, certificates of deposit and other depository services, discount brokerage services, and a variety of loans. It provides credit cards, automated teller machine services, Internet banking services, and online bill payment services, as well as private banking and trust services to individuals and corporations. Union Bankshares Corporation, formerly Union First Market Bankshares Corporation, is headquartered in Richmond, Virginia. “

Several other analysts have also issued reports on the company. ValuEngine lowered Union Bankshares Corporation from a buy rating to a hold rating in a report on Tuesday, October 10th. Brean Capital reissued a hold rating on shares of Union Bankshares Corporation in a report on Wednesday, August 2nd. Finally, BidaskClub lowered Union Bankshares Corporation from a sell rating to a strong sell rating in a report on Tuesday, July 25th. Two analysts have rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $39.33.

Shares of Union Bankshares Corporation (UBSH) traded down 0.59% during mid-day trading on Friday, reaching $35.31. The company had a trading volume of 151,471 shares. Union Bankshares Corporation has a one year low of $27.23 and a one year high of $39.37. The stock has a market capitalization of $1.54 billion, a P/E ratio of 19.62 and a beta of 1.25. The firm has a 50 day moving average of $33.63 and a 200-day moving average of $33.38.

Union Bankshares Corporation (NASDAQ:UBSH) last issued its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.49 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.49. Union Bankshares Corporation had a return on equity of 8.03% and a net margin of 20.02%. The company had revenue of $88.73 million during the quarter, compared to analyst estimates of $91.68 million. Analysts forecast that Union Bankshares Corporation will post $1.85 EPS for the current fiscal year.

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Large investors have recently added to or reduced their stakes in the business. Bronfman E.L. Rothschild L.P. grew its holdings in Union Bankshares Corporation by 3.8% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 3,226 shares of the financial services provider’s stock valued at $109,000 after purchasing an additional 119 shares during the period. SG Americas Securities LLC bought a new stake in Union Bankshares Corporation during the second quarter valued at about $119,000. Ameritas Investment Partners Inc. bought a new stake in Union Bankshares Corporation during the first quarter valued at about $122,000. Victory Capital Management Inc. grew its holdings in Union Bankshares Corporation by 17.6% during the second quarter. Victory Capital Management Inc. now owns 5,230 shares of the financial services provider’s stock valued at $177,000 after purchasing an additional 783 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. bought a new stake in Union Bankshares Corporation during the first quarter valued at about $207,000. 63.68% of the stock is owned by institutional investors and hedge funds.

Union Bankshares Corporation Company Profile

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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