Eagle Asset Management Inc. decreased its position in Union Bankshares Corporation (NYSE:AUB) by 13.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 204,219 shares of the company’s stock after selling 33,042 shares during the quarter. Eagle Asset Management Inc. owned 0.25% of Union Bankshares worth $7,606,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. SG Americas Securities LLC acquired a new position in shares of Union Bankshares during the second quarter worth $1,718,000. Emerald Mutual Fund Advisers Trust acquired a new position in shares of Union Bankshares during the second quarter worth $11,084,000. Victory Capital Management Inc. acquired a new position in shares of Union Bankshares during the second quarter worth $10,132,000. Carroll Financial Associates Inc. acquired a new position in shares of Union Bankshares during the second quarter worth $1,202,000. Finally, Wells Fargo & Company MN acquired a new position in Union Bankshares in the second quarter valued at $9,078,000.
Several equities analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Union Bankshares from a “hold” rating to a “sell” rating in a research note on Tuesday, September 17th. Sandler O’Neill downgraded shares of Union Bankshares from a “buy” rating to a “hold” rating in a research note on Wednesday, September 25th. They noted that the move was a valuation call. Keefe, Bruyette & Woods downgraded shares of Union Bankshares from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $40.00 to $37.00 in a research note on Thursday, September 5th. Finally, Raymond James upgraded shares of Union Bankshares from an “outperform” rating to a “strong-buy” rating in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a strong buy rating to the company. Union Bankshares has an average rating of “Hold” and an average target price of $38.50.
In other Union Bankshares news, Director Ronald L. Tillett sold 1,300 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $37.85, for a total transaction of $49,205.00. Also, insider Low Robin purchased 2,060 shares of the stock in a transaction dated Monday, November 18th. The stock was acquired at an average price of $12.16 per share, for a total transaction of $25,055.78.
Shares of NYSE:AUB traded up $0.21 on Wednesday, reaching $37.37. The company’s stock had a trading volume of 180,100 shares, compared to its average volume of 295,864. The business has a 50-day moving average price of $37.79. Union Bankshares Corporation has a 52-week low of $26.48 and a 52-week high of $40.20.
Union Bankshares (NYSE:AUB) last posted its quarterly earnings results on Thursday, October 17th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.18. The firm had revenue of $184.71 million for the quarter, compared to analysts’ expectations of $167.10 million.
The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.00 annualized dividend and a yield of 2.68%.
Union Bankshares Company Profile
Atlantic Union Bankshares Corporation operates as the holding company for Atlantic Union Bank 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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