$122.73 Million in Sales Expected for Union Bankshares Corp (UBSH) This Quarter

Equities research analysts expect that Union Bankshares Corp (NASDAQ:UBSH) will post $122.73 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Union Bankshares’ earnings, with the lowest sales estimate coming in at $122.66 million and the highest estimate coming in at $122.79 million. Union Bankshares reported sales of $85.41 million in the same quarter last year, which indicates a positive year-over-year growth rate of 43.7%. The business is scheduled to announce its next earnings report before the market opens on Tuesday, April 24th.

On average, analysts expect that Union Bankshares will report full-year sales of $122.73 million for the current financial year, with estimates ranging from $516.51 million to $519.36 million. For the next financial year, analysts anticipate that the company will post sales of $558.50 million per share, with estimates ranging from $546.15 million to $570.85 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Union Bankshares.

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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 business had revenue of $90.64 million for the quarter, compared to analyst estimates of $91.35 million.

A number of research firms recently issued reports on UBSH. Brean Capital reiterated a “hold” rating on shares of Union Bankshares in a research note on Thursday. Zacks Investment Research upgraded shares of Union Bankshares from a “sell” rating to a “hold” rating in a research report on Wednesday, March 28th. Merion Capital Group raised their price target on shares of Union Bankshares from $45.00 to $47.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. BidaskClub upgraded shares of Union Bankshares from a “sell” rating to a “hold” rating in a research report on Thursday, January 11th. Finally, Sandler O’Neill set a $39.00 price target on shares of Union Bankshares and gave the stock a “hold” rating in a research report on Thursday, January 4th. Five analysts have rated the stock with a hold rating, two have assigned 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 a consensus target price of $41.80.

In other Union Bankshares news, Director G William Beale sold 32,064 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 84,333 shares in the company, valued at approximately $3,345,490.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.18% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. US Bancorp DE grew its position in Union Bankshares by 101.5% in the 4th quarter. US Bancorp DE now owns 4,263 shares of the financial services provider’s stock worth $154,000 after purchasing an additional 2,147 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Union Bankshares during the 4th quarter valued at about $201,000. BB&T Securities LLC acquired a new stake in shares of Union Bankshares during the 4th quarter valued at about $205,000. Amalgamated Bank acquired a new stake in shares of Union Bankshares during the 4th quarter valued at about $209,000. Finally, Canal Capital Management LLC acquired a new stake in shares of Union Bankshares during the 4th quarter valued at about $238,000. Institutional investors own 47.49% of the company’s stock.

NASDAQ:UBSH traded down $0.77 during midday trading on Thursday, reaching $36.07. The stock had a trading volume of 278,562 shares, compared to its average volume of 570,675. Union Bankshares has a 1-year low of $29.50 and a 1-year high of $39.80. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $2,375.03, a PE ratio of 18.88 and a beta of 1.15.

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Union Bankshares 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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