Union Bankshares (NASDAQ:UBSH) Lifted to “Strong-Buy” at BidaskClub

Union Bankshares (NASDAQ:UBSH) was upgraded by equities researchers at BidaskClub from a “buy” rating to a “strong-buy” rating in a note issued to investors on Tuesday, May 7th, BidAskClub reports.

UBSH has been the subject of several other reports. Zacks Investment Research lowered Union Bankshares from a “hold” rating to a “sell” rating in a research report on Thursday, January 10th. ValuEngine lowered Union Bankshares from a “hold” rating to a “sell” rating in a research report on Wednesday, March 20th. Boenning Scattergood assumed coverage on Union Bankshares in a research report on Wednesday, March 20th. They set a “neutral” rating for the company. Finally, Raymond James boosted their target price on Union Bankshares from $37.00 to $42.00 and gave the stock a “strong-buy” rating in a research report on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $41.86.

UBSH stock traded up $0.29 during midday trading on Tuesday, reaching $34.00. The stock had a trading volume of 251,112 shares, compared to its average volume of 309,468. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.30. The firm has a market cap of $2.83 billion, a price-to-earnings ratio of 12.55 and a beta of 1.42. Union Bankshares has a twelve month low of $26.48 and a twelve month high of $42.74.

Union Bankshares (NASDAQ:UBSH) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.66 EPS for the quarter, missing the Zacks’ consensus estimate of $0.68 by ($0.02). The firm had revenue of $152.49 million during the quarter, compared to analyst estimates of $154.45 million. Union Bankshares had a return on equity of 9.35% and a net margin of 24.34%. Sell-side analysts predict that Union Bankshares will post 2.77 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of UBSH. Pearl River Capital LLC grew its position in shares of Union Bankshares by 658.8% in the 1st quarter. Pearl River Capital LLC now owns 774 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 672 shares during the period. Fifth Third Bancorp acquired a new position in shares of Union Bankshares in the 1st quarter valued at approximately $28,000. Private Capital Group LLC grew its position in shares of Union Bankshares by 110.7% in the 1st quarter. Private Capital Group LLC now owns 1,020 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 536 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Union Bankshares in the 1st quarter valued at approximately $34,000. Finally, Investors Research Corp acquired a new position in shares of Union Bankshares in the 1st quarter valued at approximately $52,000. Institutional investors and hedge funds own 64.38% of the company’s stock.

Union Bankshares Company Profile

Union Bankshares Corporation operates as the holding company for Union Bank & Trust 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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Analyst Recommendations for Union Bankshares (NASDAQ:UBSH)

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