Tower Research Capital LLC TRC cut its position in shares of Union Bankshares Corp (NASDAQ:UBSH) by 71.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,568 shares of the financial services provider’s stock after selling 6,431 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Union Bankshares were worth $100,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in 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 acquiring an additional 732,232 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Union Bankshares by 67.5% in the first quarter. The Manufacturers Life Insurance Company now owns 1,384,052 shares of the financial services provider’s stock worth $50,808,000 after acquiring an additional 557,773 shares in the last quarter. Segall Bryant & Hamill LLC bought a new stake in Union Bankshares in the second quarter worth $17,012,000. Dimensional Fund Advisors LP boosted its holdings in 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 acquiring an additional 375,560 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in Union Bankshares by 151.8% in the second quarter. Victory Capital Management Inc. now owns 434,290 shares of the financial services provider’s stock worth $16,885,000 after acquiring an additional 261,838 shares in the last quarter. Institutional investors own 75.10% of the company’s stock.
Several equities research analysts have commented on UBSH shares. Zacks Investment Research raised Union Bankshares from a “hold” rating to a “buy” rating and set a $46.00 target price 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 “hold” rating on shares of Union Bankshares in a report on Monday, August 27th. Finally, Compass Point downgraded Union Bankshares from a “buy” rating to a “hold” rating and set a $41.00 target price on the stock. in a report on Sunday, October 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $44.00.
Union Bankshares stock opened at $36.07 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.93 and a current ratio of 0.93. Union Bankshares Corp has a 12 month low of $31.77 and a 12 month high of $42.74. The firm has a market capitalization of $2.54 billion, a price-to-earnings ratio of 19.15 and a beta of 1.17.
Union Bankshares (NASDAQ:UBSH) last released its earnings results on Wednesday, July 18th. The financial services provider reported $0.82 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.20. The business had revenue of $148.77 million for the quarter, compared to the consensus estimate of $130.36 million. Union Bankshares had a return on equity of 9.47% and a net margin of 18.94%. On average, research analysts predict that Union Bankshares Corp will post 2.77 EPS for the current year.
In other news, Director Ronald L. Tillett sold 1,000 shares of the company’s stock in a transaction on Monday, August 6th. The stock was sold at an average price of $40.14, for a total transaction of $40,140.00. Following the transaction, the director now directly owns 27,214 shares of the company’s stock, valued at $1,092,369.96. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Frederick Blair Wimbush purchased 1,200 shares of the stock in a transaction dated Tuesday, July 24th. The shares were acquired at an average cost of $41.65 per share, for a total transaction of $49,980.00. Following the completion of the acquisition, the director now owns 1,200 shares of the company’s stock, valued at $49,980. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 3,000 shares of company stock worth $122,150. Corporate insiders own 1.64% of the company’s stock.
About Union Bankshares
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.
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