Schwab Charles Investment Management Inc. boosted its stake in shares of Union Bankshares Corp (NASDAQ:UBSH) by 4.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 215,723 shares of the financial services provider’s stock after acquiring an additional 10,119 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.49% of Union Bankshares worth $7,616,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Bronfman E.L. Rothschild L.P. grew its holdings in Union Bankshares by 3.8% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 3,226 shares of the financial services provider’s stock worth $109,000 after acquiring an additional 119 shares during the last quarter. SG Americas Securities LLC bought a new stake in Union Bankshares during the 2nd quarter worth about $119,000. Ameritas Investment Partners Inc. boosted its stake in shares of Union Bankshares by 8.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,789 shares of the financial services provider’s stock valued at $128,000 after purchasing an additional 307 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Union Bankshares by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 5,230 shares of the financial services provider’s stock valued at $177,000 after purchasing an additional 783 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of Union Bankshares by 895.0% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 6,229 shares of the financial services provider’s stock valued at $211,000 after purchasing an additional 5,603 shares during the last quarter. 64.54% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Union Bankshares from a “hold” rating to a “sell” rating in a research note on Wednesday, December 20th. BidaskClub lowered shares of Union Bankshares from a “hold” rating to a “sell” rating in a research note on Wednesday. Brean Capital reaffirmed a “hold” rating on shares of Union Bankshares in a research note on Tuesday. Finally, ValuEngine lowered shares of Union Bankshares from a “buy” rating to a “hold” rating in a research note on Tuesday, October 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and two have given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $39.33.
Union Bankshares Corp (NASDAQ:UBSH) opened at $35.77 on Friday. The stock has a market cap of $1,576.10, a PE ratio of 19.87 and a beta of 1.28. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.94 and a quick ratio of 0.94. Union Bankshares Corp has a one year low of $29.50 and a one year high of $39.37.
Union Bankshares (NASDAQ:UBSH) last issued its earnings results on Wednesday, October 18th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.49. The company had revenue of $88.73 million for the quarter, compared to analyst estimates of $91.68 million. Union Bankshares had a net margin of 20.02% and a return on equity of 7.98%. sell-side analysts expect that Union Bankshares Corp will post 1.86 earnings per share for the current fiscal year.
In other news, EVP John G. Jr. Stallings purchased 1,373 shares of the business’s stock in a transaction that occurred on Thursday, December 14th. The shares were acquired at an average cost of $36.22 per share, for a total transaction of $49,730.06. Following the transaction, the executive vice president now directly owns 9,582 shares of the company’s stock, valued at approximately $347,060.04. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.18% of the stock is currently owned by company insiders.
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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