Salzhauer Michael Has $1.66 Million Holdings in Union Bankshares Corp (UBSH)

Salzhauer Michael lowered its position in Union Bankshares Corp (NASDAQ:UBSH) by 14.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 42,982 shares of the financial services provider’s stock after selling 7,000 shares during the period. Salzhauer Michael owned about 0.07% of Union Bankshares worth $1,656,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of UBSH. Sterling Capital Management LLC acquired a new position in shares of Union Bankshares during the 3rd quarter worth about $326,000. JNBA Financial Advisors acquired a new position in shares of Union Bankshares during the 3rd quarter worth about $221,000. Moody Aldrich Partners LLC raised its position in shares of Union Bankshares by 130.0% during the 3rd quarter. Moody Aldrich Partners LLC now owns 156,677 shares of the financial services provider’s stock worth $6,037,000 after purchasing an additional 88,559 shares during the last quarter. Emerald Mutual Fund Advisers Trust raised its position in shares of Union Bankshares by 0.7% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 785,165 shares of the financial services provider’s stock worth $30,252,000 after purchasing an additional 5,290 shares during the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. raised its position in shares of Union Bankshares by 78.4% during the 3rd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 52,260 shares of the financial services provider’s stock worth $2,014,000 after purchasing an additional 22,960 shares during the last quarter. Institutional investors and hedge funds own 75.50% of the company’s stock.

In related news, Director G William Beale sold 1,000 shares of the company’s stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $41.56, for a total transaction of $41,560.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders have sold 3,000 shares of company stock valued at $122,150. 2.18% of the stock is owned by corporate insiders.

Several research firms recently weighed in on UBSH. Zacks Investment Research downgraded shares of Union Bankshares from a “buy” rating to a “hold” rating in a research report on Tuesday, October 23rd. Brean Capital restated a “buy” rating on shares of Union Bankshares in a research report on Monday, October 29th. BidaskClub upgraded shares of Union Bankshares from a “strong sell” rating to a “sell” rating in a research report on Tuesday. ValuEngine downgraded shares of Union Bankshares from a “hold” rating to a “sell” rating in a research report on Wednesday, October 17th. Finally, Sandler O’Neill upgraded shares of Union Bankshares from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a research report on Thursday, October 18th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $44.14.

UBSH opened at $34.66 on Friday. Union Bankshares Corp has a twelve month low of $32.04 and a twelve month high of $42.74. The stock has a market cap of $2.25 billion, a P/E ratio of 13.49 and a beta of 1.23. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.93 and a quick ratio of 0.93.

Union Bankshares (NASDAQ:UBSH) last announced its quarterly earnings data on Wednesday, October 17th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.03). Union Bankshares had a net margin of 20.38% and a return on equity of 9.80%. The business had revenue of $125.85 million for the quarter, compared to analysts’ expectations of $132.49 million. On average, sell-side analysts expect that Union Bankshares Corp will post 2.75 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 23rd. Investors of record on Friday, November 9th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $0.92 annualized dividend and a yield of 2.65%. Union Bankshares’s dividend payout ratio is presently 48.17%.

Union Bankshares 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.

Read More: Momentum Indicator: Relative Strength Index

Institutional Ownership by Quarter 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