Union Bankshares (NASDAQ:UBSH)‘s stock had its “hold” rating reaffirmed by investment analysts at Brean Capital in a research note issued on Thursday.
UBSH has been the topic of several other reports. Zacks Investment Research upgraded Union Bankshares from a “hold” rating to a “strong-buy” rating and set a $44.00 price objective on the stock in a report on Saturday, January 13th. Merion Capital Group lifted their price objective on Union Bankshares from $45.00 to $47.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Sandler O’Neill set a $39.00 price objective on Union Bankshares and gave the stock a “hold” rating in a report on Thursday, January 4th. Finally, BidaskClub cut Union Bankshares from a “hold” rating to a “sell” rating in a report on Wednesday, January 3rd. Five research analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $41.80.
UBSH stock opened at $36.07 on Thursday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.94 and a current ratio of 0.94. Union Bankshares has a 12-month low of $29.50 and a 12-month high of $39.80. The stock has a market capitalization of $2,407.96, a P/E ratio of 18.88 and a beta of 1.15.
In other Union Bankshares news, Director G William Beale sold 32,064 shares of the firm’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 transaction, the director now directly owns 84,333 shares of the company’s stock, valued at approximately $3,345,490.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.18% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in UBSH. Janus Henderson Group PLC purchased a new position in Union Bankshares in the 3rd quarter worth approximately $21,259,000. Tributary Capital Management LLC purchased a new position in Union Bankshares in the 4th quarter worth approximately $15,187,000. Bank of New York Mellon Corp lifted its stake in Union Bankshares by 13.7% in the 4th quarter. Bank of New York Mellon Corp now owns 2,037,942 shares of the financial services provider’s stock worth $73,712,000 after purchasing an additional 245,262 shares in the last quarter. Phocas Financial Corp. purchased a new position in Union Bankshares in the 4th quarter worth approximately $5,314,000. Finally, Geode Capital Management LLC lifted its stake in Union Bankshares by 24.9% in the 4th quarter. Geode Capital Management LLC now owns 496,304 shares of the financial services provider’s stock worth $17,951,000 after purchasing an additional 98,920 shares in the last quarter. 47.49% of the stock is currently owned by institutional investors and hedge funds.
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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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