Union Bankshares (UBSH) Rating Increased to Buy at Sandler O’Neill

Union Bankshares (NASDAQ:UBSH) was upgraded by Sandler O’Neill from a “hold” rating to a “buy” rating in a research note issued on Thursday, Marketbeat Ratings reports. The firm currently has a $42.00 price target on the financial services provider’s stock. Sandler O’Neill’s price target would suggest a potential upside of 23.09% from the company’s current price.

Other research analysts have also issued reports about the company. Zacks Investment Research raised Union Bankshares from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a report on Tuesday, September 4th. BidaskClub raised Union Bankshares from a “hold” rating to a “buy” rating in a report on Saturday, June 23rd. Brean Capital reissued a “buy” rating and issued a $42.00 price objective on shares of Union Bankshares in a report on Wednesday. Finally, Compass Point raised Union Bankshares from a “neutral” rating to a “buy” rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $44.14.

Shares of UBSH stock opened at $34.12 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $2.35 billion, a PE ratio of 17.86 and a beta of 1.16. Union Bankshares has a fifty-two week low of $33.03 and a fifty-two week high of $42.74.

Union Bankshares (NASDAQ:UBSH) last announced its quarterly earnings data on Wednesday, October 17th. The financial services provider reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.03). The firm had revenue of $125.85 million during the quarter, compared to analyst estimates of $132.49 million. Union Bankshares had a net margin of 20.38% and a return on equity of 9.80%. Research analysts anticipate that Union Bankshares will post 2.77 EPS for the current year.

In other news, Director G William Beale sold 1,000 shares of the company’s stock in a transaction dated Thursday, September 20th. The stock was sold at an average price of $40.45, for a total value of $40,450.00. Following the sale, the director now owns 100,462 shares in the company, valued at $4,063,687.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frederick Blair Wimbush bought 1,200 shares of the stock in a transaction dated Tuesday, July 24th. The stock was bought at an average price of $41.65 per share, for a total transaction of $49,980.00. Following the purchase, the director now directly owns 1,200 shares of the company’s stock, valued at $49,980. The disclosure for this purchase can be found here. Insiders sold 3,000 shares of company stock worth $122,150 in the last 90 days. Company insiders own 2.18% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in shares of Union Bankshares by 9.5% in the second quarter. Dimensional Fund Advisors LP now owns 4,338,528 shares of the financial services provider’s stock worth $168,684,000 after buying an additional 375,560 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Union Bankshares by 20.4% in the second quarter. BlackRock Inc. now owns 4,314,648 shares of the financial services provider’s stock worth $167,754,000 after buying an additional 732,232 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of Union Bankshares by 12.1% in the second quarter. Janus Henderson Group PLC now owns 1,206,586 shares of the financial services provider’s stock worth $46,912,000 after buying an additional 130,084 shares during the last quarter. FMR LLC boosted its stake in shares of Union Bankshares by 1.8% in the second quarter. FMR LLC now owns 907,333 shares of the financial services provider’s stock worth $35,277,000 after buying an additional 15,972 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust boosted its stake in shares of Union Bankshares by 1.2% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 779,875 shares of the financial services provider’s stock worth $30,322,000 after buying an additional 9,090 shares during the last quarter. Hedge funds and other institutional investors own 75.49% of the company’s stock.

Union Bankshares Company Profile

Union Bankshares Corporation operates as the bank holding company for Union Bank & Trust that provides banking and related financial services to consumers and businesses. The company operates in two segments, Community Bank and Mortgage. It accepts various deposit products, including checking, savings, NOW, time deposit, and money market accounts, as well as certificates of deposit and other depository services.

Featured Article: Using the New Google Finance Tool

Analyst Recommendations for Union Bankshares (NASDAQ:UBSH)

Receive News & Ratings for Union Bankshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Union Bankshares and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply