Bank of New York Mellon Corp decreased its stake in shares of Union Bankshares Corporation (NYSE:AUB) by 41.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 580,169 shares of the company’s stock after selling 412,158 shares during the quarter. Bank of New York Mellon Corp owned about 0.74% of Union Bankshares worth $13,437,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in AUB. Arizona State Retirement System acquired a new stake in shares of Union Bankshares during the 1st quarter worth approximately $373,000. Rhumbline Advisers grew its position in Union Bankshares by 7.7% in the 1st quarter. Rhumbline Advisers now owns 142,055 shares of the company’s stock valued at $3,111,000 after purchasing an additional 10,195 shares during the period. Russell Investments Group Ltd. grew its position in Union Bankshares by 103.0% in the 1st quarter. Russell Investments Group Ltd. now owns 236,040 shares of the company’s stock valued at $5,165,000 after purchasing an additional 119,739 shares during the period. First Trust Advisors LP grew its position in Union Bankshares by 17.6% in the 1st quarter. First Trust Advisors LP now owns 73,332 shares of the company’s stock valued at $1,606,000 after purchasing an additional 10,980 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Union Bankshares by 10.3% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,993 shares of the company’s stock valued at $131,000 after purchasing an additional 558 shares during the period.

In other Union Bankshares news, Director Michael W. Clarke sold 2,000 shares of Union Bankshares stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $22.50, for a total transaction of $45,000.00. Following the completion of the transaction, the director now owns 499,519 shares of the company’s stock, valued at approximately $11,239,177.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael W. Clarke sold 4,000 shares of Union Bankshares stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $23.21, for a total value of $92,840.00. Following the transaction, the director now directly owns 421,519 shares of the company’s stock, valued at approximately $9,783,455.99. The disclosure for this sale can be found here. Insiders sold a total of 70,000 shares of company stock worth $1,649,340 over the last 90 days.

Shares of Union Bankshares stock opened at $22.30 on Wednesday. Union Bankshares Corporation has a 52-week low of $18.55 and a 52-week high of $40.20. The stock’s 50-day simple moving average is $23.74 and its 200 day simple moving average is $23.08.

Union Bankshares (NYSE:AUB) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $0.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.09. The firm had revenue of $173.24 million during the quarter, compared to the consensus estimate of $155.04 million.

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 7th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.48%. The ex-dividend date of this dividend was Thursday, August 6th.

Several equities analysts have weighed in on the company. Piper Sandler assumed coverage on Union Bankshares in a research note on Monday, July 27th. They set a “neutral” rating on the stock. Compass Point upgraded Union Bankshares from a “neutral” rating to a “buy” rating and set a $27.00 target price on the stock in a research note on Friday, July 24th. Finally, Zacks Investment Research upgraded Union Bankshares from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 30th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $36.33.

Union Bankshares 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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Institutional Ownership by Quarter for Union Bankshares (NYSE:AUB)

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