Silvercrest Asset Management Group LLC Invests $2.03 Million in Union Bankshares Corporation (NYSE:AUB)

Silvercrest Asset Management Group LLC purchased a new position in Union Bankshares Corporation (NYSE:AUB) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 57,513 shares of the company’s stock, valued at approximately $2,032,000. Silvercrest Asset Management Group LLC owned about 0.07% of Union Bankshares at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Capital Investment Advisory Services LLC bought a new position in shares of Union Bankshares in the second quarter worth about $27,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Union Bankshares in the second quarter worth about $27,000. Panagora Asset Management Inc. bought a new position in shares of Union Bankshares in the second quarter worth about $32,000. Signaturefd LLC bought a new position in shares of Union Bankshares in the second quarter worth about $47,000. Finally, FTB Advisors Inc. bought a new position in shares of Union Bankshares in the second quarter worth about $54,000.

Union Bankshares stock traded down $0.55 during midday trading on Friday, hitting $38.65. 10,090 shares of the company’s stock were exchanged, compared to its average volume of 304,565. Union Bankshares Corporation has a 12 month low of $26.48 and a 12 month high of $41.11. The business’s 50-day moving average price is $36.63.

Union Bankshares (NYSE:AUB) last issued its earnings results on Thursday, July 18th. The company reported $0.70 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.70. The business had revenue of $169.17 million for the quarter, compared to the consensus estimate of $169.26 million.

A number of research analysts have recently commented on AUB shares. Keefe, Bruyette & Woods cut shares of Union Bankshares from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $40.00 to $37.00 in a report on Thursday, September 5th. Boenning Scattergood restated a “hold” rating on shares of Union Bankshares in a report on Friday, July 19th. Raymond James set a $40.00 price target on shares of Union Bankshares and gave the stock a “buy” rating in a report on Friday, July 19th. Finally, Zacks Investment Research cut shares of Union Bankshares from a “hold” rating to a “sell” rating in a report on Tuesday.

Union Bankshares Company Profile

Atlantic Union Bankshares Corporation operates as the holding company for Atlantic Union Bank that provides banking and related financial services to consumers and businesses. 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.

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Institutional Ownership by Quarter for Union Bankshares (NYSE:AUB)

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