UBS Asset Management Americas Inc. Buys 1,445 Shares of Union Bankshares Corp (UBSH)

UBS Asset Management Americas Inc. raised its stake in shares of Union Bankshares Corp (NASDAQ:UBSH) by 5.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,776 shares of the financial services provider’s stock after purchasing an additional 1,445 shares during the quarter. UBS Asset Management Americas Inc.’s holdings in Union Bankshares were worth $968,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its holdings in Union Bankshares by 13.7% during the fourth quarter. Bank of New York Mellon Corp now owns 2,037,942 shares of the financial services provider’s stock valued at $73,712,000 after purchasing an additional 245,262 shares in the last quarter. California Public Employees Retirement System boosted its holdings in Union Bankshares by 9.6% during the third quarter. California Public Employees Retirement System now owns 74,338 shares of the financial services provider’s stock valued at $2,624,000 after purchasing an additional 6,538 shares in the last quarter. Palladium Partners LLC acquired a new stake in Union Bankshares during the fourth quarter valued at approximately $290,000. Schwab Charles Investment Management Inc. boosted its holdings in Union Bankshares by 16.6% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 251,548 shares of the financial services provider’s stock valued at $9,099,000 after purchasing an additional 35,825 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Union Bankshares by 7.2% during the third quarter. Principal Financial Group Inc. now owns 532,268 shares of the financial services provider’s stock valued at $18,789,000 after purchasing an additional 35,711 shares in the last quarter. 47.49% of the stock is currently owned by institutional investors.

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Union Bankshares stock opened at $36.31 on Friday. Union Bankshares Corp has a one year low of $29.50 and a one year high of $39.80. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.41. The stock has a market cap of $2,492.90, a P/E ratio of 21.74 and a beta of 1.17.

Union Bankshares (NASDAQ:UBSH) last posted its earnings results on Tuesday, January 23rd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. Union Bankshares had a net margin of 18.15% and a return on equity of 8.09%. The company had revenue of $90.64 million during the quarter, compared to analysts’ expectations of $91.35 million. sell-side analysts forecast that Union Bankshares Corp will post 2.51 EPS for the current fiscal year.

In related news, Director G William Beale sold 32,064 shares of the business’s stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $39.67, for a total value of $1,271,978.88. Following the completion of the transaction, the director now owns 84,333 shares in the company, valued at approximately $3,345,490.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.18% of the company’s stock.

A number of research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Union Bankshares from a “buy” rating to a “hold” rating in a research note on Wednesday, February 14th. BidaskClub upgraded shares of Union Bankshares from a “sell” rating to a “hold” rating in a research note on Thursday, January 11th. Brean Capital reiterated a “hold” rating on shares of Union Bankshares in a research note on Tuesday, January 23rd. Merion Capital Group lifted their target price on shares of Union Bankshares from $45.00 to $47.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Finally, Sandler O’Neill set a $39.00 target price on shares of Union Bankshares and gave the company a “hold” rating in a research note on Thursday, January 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $41.80.

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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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Institutional Ownership by Quarter for Union Bankshares (NASDAQ:UBSH)

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