Union Bankshares (NASDAQ:UBSH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday. They currently have a $40.00 price target on the financial services provider’s stock. Zacks Investment Research‘s price objective points to a potential upside of 4.58% from the company’s previous close.

According to Zacks, “Union Bankshares Corporation is the holding company for Union First Market Bank. The Company operates through two segments, Community Bank and Mortgage. The Banks offer a wide range of banking and related financial services including checking, savings, certificates of deposit and other depository services, discount brokerage services, and a variety of loans. It provides credit cards, automated teller machine services, Internet banking services, and online bill payment services, as well as private banking and trust services to individuals and corporations. Union Bankshares Corporation, formerly Union First Market Bankshares Corporation, is headquartered in Richmond, Virginia. “

Several other research firms also recently weighed in on UBSH. Brean Capital reiterated a “hold” rating on shares of Union Bankshares in a research report on Tuesday, January 2nd. Sandler O’Neill set a $39.00 target price on Union Bankshares and gave the stock a “hold” rating in a research report on Thursday, January 4th. BidaskClub downgraded Union Bankshares from a “hold” rating to a “sell” rating in a research report on Wednesday, January 3rd. Finally, ValuEngine downgraded Union Bankshares from a “buy” rating to a “hold” rating in a research report on Tuesday, October 10th. Four research analysts have rated the stock with a hold rating, two have issued a buy rating and three have issued a strong buy rating to the company. Union Bankshares has an average rating of “Buy” and a consensus target price of $40.20.

Shares of Union Bankshares (NASDAQ:UBSH) opened at $38.25 on Friday. Union Bankshares has a 52-week low of $29.50 and a 52-week high of $39.37. The firm has a market capitalization of $1,664.01, a price-to-earnings ratio of 21.25 and a beta of 1.28. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.94 and a current ratio of 0.94.

Union Bankshares (NASDAQ:UBSH) last released its earnings results on Wednesday, October 18th. The financial services provider reported $0.49 earnings per share for the quarter, hitting the consensus estimate of $0.49. Union Bankshares had a return on equity of 7.98% and a net margin of 20.02%. The business had revenue of $88.73 million during the quarter, compared to the consensus estimate of $91.68 million. equities research analysts predict that Union Bankshares will post 1.86 EPS for the current year.

In other news, EVP John G. Jr. Stallings acquired 1,373 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The stock was purchased at an average cost of $36.22 per share, for a total transaction of $49,730.06. Following the completion of the acquisition, 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 filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.18% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. raised its holdings in Union Bankshares by 5.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 205,604 shares of the financial services provider’s stock worth $6,970,000 after purchasing an additional 10,318 shares in the last quarter. SG Americas Securities LLC bought a new position in Union Bankshares in the second quarter worth about $119,000. Legal & General Group Plc raised its holdings in Union Bankshares by 1.8% in the second quarter. Legal & General Group Plc now owns 16,440 shares of the financial services provider’s stock worth $558,000 after purchasing an additional 289 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in Union Bankshares by 895.0% in the second quarter. BNP Paribas Arbitrage SA now owns 6,229 shares of the financial services provider’s stock worth $211,000 after purchasing an additional 5,603 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in Union Bankshares by 17.6% in the second quarter. Victory Capital Management Inc. now owns 5,230 shares of the financial services provider’s stock worth $177,000 after purchasing an additional 783 shares in the last quarter. Hedge funds and other institutional investors own 64.54% of the company’s stock.

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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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