68,118 Shares in Union Bankshares Corp (UBSH) Purchased by Moody Aldrich Partners LLC
Moody Aldrich Partners LLC acquired a new position in shares of Union Bankshares Corp (NASDAQ:UBSH) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 68,118 shares of the financial services provider’s stock, valued at approximately $2,648,000. Moody Aldrich Partners LLC owned approximately 0.10% of Union Bankshares at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Bank of Montreal Can raised its position in shares of Union Bankshares by 1,092.6% during the second quarter. Bank of Montreal Can now owns 2,731 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 2,502 shares during the period. Mount Yale Investment Advisors LLC raised its position in shares of Union Bankshares by 471.6% during the second quarter. Mount Yale Investment Advisors LLC now owns 2,715 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 2,240 shares during the period. Strs Ohio acquired a new stake in shares of Union Bankshares during the second quarter worth about $116,000. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Union Bankshares by 67.0% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,490 shares of the financial services provider’s stock worth $128,000 after purchasing an additional 1,400 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of Union Bankshares during the first quarter worth about $166,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.
A number of brokerages recently issued reports on UBSH. BidaskClub lowered Union Bankshares from a “sell” rating to a “strong sell” rating in a research report on Wednesday, September 26th. Brean Capital reissued a “hold” rating on shares of Union Bankshares in a research report on Monday, August 27th. Zacks Investment Research upgraded Union Bankshares from a “hold” rating to a “buy” rating and set a $46.00 price target for the company in a research note on Tuesday, September 4th. Finally, Raymond James raised their price target on Union Bankshares from $45.00 to $47.00 and gave the company a “strong-buy” rating in a research note on Monday, August 20th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Union Bankshares presently has a consensus rating of “Hold” and an average price target of $44.00.
Union Bankshares (NASDAQ:UBSH) last issued 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 company had revenue of $148.77 million during 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%. Analysts predict that Union Bankshares Corp will post 2.77 EPS for the current fiscal year.
In other Union Bankshares news, Director Ronald L. Tillett sold 1,000 shares of Union Bankshares stock in a transaction on Monday, August 6th. The stock was sold at an average price of $40.14, for a total value of $40,140.00. Following the completion of the transaction, the director now directly owns 27,214 shares of the company’s stock, valued at approximately $1,092,369.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frederick Blair Wimbush acquired 1,200 shares of the company’s stock in a transaction on Tuesday, July 24th. The stock was bought at an average cost of $41.65 per share, with a total value of $49,980.00. Following the completion of the acquisition, the director now directly owns 1,200 shares in the company, valued at $49,980. The disclosure for this purchase can be found here. Insiders sold a total of 3,000 shares of company stock valued at $122,150 over the last 90 days. 1.64% of the stock is currently owned by corporate insiders.
Union Bankshares Profile
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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