Union Bankshares Corp (UBSH) Expected to Post Quarterly Sales of $91.31 Million

Brokerages expect that Union Bankshares Corp (NASDAQ:UBSH) will announce $91.31 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Union Bankshares’ earnings, with the highest sales estimate coming in at $92.53 million and the lowest estimate coming in at $90.08 million. Union Bankshares reported sales of $86.67 million during the same quarter last year, which indicates a positive year over year growth rate of 5.4%. The firm is scheduled to issue its next earnings report on Tuesday, January 23rd.

According to Zacks, analysts expect that Union Bankshares will report full year sales of $91.31 million for the current financial year, with estimates ranging from $350.50 million to $360.78 million. For the next fiscal year, analysts forecast that the firm will post sales of $515.53 million per share, with estimates ranging from $513.87 million to $517.19 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow Union Bankshares.

Union Bankshares (NASDAQ:UBSH) last issued its earnings results on Wednesday, October 18th. The financial services provider reported $0.49 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.49. Union Bankshares had a return on equity of 7.98% and a net margin of 20.02%. The business had revenue of $88.73 million during the quarter, compared to analyst estimates of $91.68 million.

A number of research analysts recently issued reports on the company. Zacks Investment Research upgraded Union Bankshares from a “sell” rating to a “hold” rating in a research note on Wednesday, September 6th. ValuEngine downgraded Union Bankshares from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Finally, Brean Capital reiterated a “hold” rating on shares of Union Bankshares in a research note on Monday, October 30th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $39.33.

In related news, EVP John G. Jr. Stallings purchased 1,373 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The shares were bought at an average price of $36.22 per share, for a total transaction of $49,730.06. Following the acquisition, the executive vice president now owns 9,582 shares of the company’s stock, valued at approximately $347,060.04. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.18% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Bronfman E.L. Rothschild L.P. grew its position in shares of Union Bankshares by 3.8% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 3,226 shares of the financial services provider’s stock worth $109,000 after buying an additional 119 shares in the last quarter. SG Americas Securities LLC bought a new stake in Union Bankshares during the second quarter valued at about $119,000. Ameritas Investment Partners Inc. boosted its position in Union Bankshares by 8.8% during 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. Victory Capital Management Inc. boosted its position in Union Bankshares 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 in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its position in Union Bankshares by 895.0% during the second quarter. BNP Paribas Arbitrage SA now owns 6,229 shares of the financial services provider’s stock valued at $211,000 after purchasing an additional 5,603 shares in the last quarter. 64.54% of the stock is currently owned by institutional investors.

Union Bankshares (NASDAQ UBSH) traded up $0.30 during trading on Monday, hitting $37.17. The company’s stock had a trading volume of 192,700 shares, compared to its average volume of 169,301. The company has a market cap of $1,612.40, a P/E ratio of 20.65 and a beta of 1.27. Union Bankshares has a 1-year low of $29.50 and a 1-year high of $39.37. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.42.

The business also recently declared a quarterly dividend, which was paid on Monday, November 27th. Investors of record on Monday, November 13th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.26%. The ex-dividend date was Friday, November 10th. This is a positive change from Union Bankshares’s previous quarterly dividend of $0.20. Union Bankshares’s dividend payout ratio is presently 46.67%.

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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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