GSA Capital Partners LLP Increases Stake in Union Bankshares Corp (UBSH)
GSA Capital Partners LLP lifted its holdings in shares of Union Bankshares Corp (NASDAQ:UBSH) by 332.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 60,352 shares of the financial services provider’s stock after acquiring an additional 46,397 shares during the period. GSA Capital Partners LLP owned 0.14% of Union Bankshares worth $2,130,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Quantitative Systematic Strategies LLC purchased a new position in shares of Union Bankshares during the third quarter worth approximately $626,000. Eagle Asset Management Inc. acquired a new stake in shares of Union Bankshares during the second quarter worth $15,837,000. Capital Fund Management S.A. lifted its holdings in shares of Union Bankshares by 117.3% during the second quarter. Capital Fund Management S.A. now owns 17,600 shares of the financial services provider’s stock worth $597,000 after purchasing an additional 9,500 shares during the period. Prudential Financial Inc. lifted its holdings in shares of Union Bankshares by 18.2% during the second quarter. Prudential Financial Inc. now owns 159,959 shares of the financial services provider’s stock worth $5,422,000 after purchasing an additional 24,660 shares during the period. Finally, FMR LLC lifted its holdings in shares of Union Bankshares by 357.4% during the second quarter. FMR LLC now owns 52,984 shares of the financial services provider’s stock worth $1,796,000 after purchasing an additional 41,400 shares during the period. Institutional investors and hedge funds own 65.04% of the company’s stock.
In other Union Bankshares news, EVP John G. Jr. Stallings bought 1,373 shares of Union Bankshares stock in a transaction on Thursday, December 14th. The stock was bought at an average price of $36.22 per share, with a total value of $49,730.06. Following the completion of the acquisition, the executive vice president now owns 9,582 shares in the company, valued at $347,060.04. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.18% of the stock is currently owned by company insiders.
Union Bankshares (NASDAQ:UBSH) last issued its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.49 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.49. Union Bankshares had a return on equity of 7.98% and a net margin of 20.02%. The firm had revenue of $88.73 million during the quarter, compared to the consensus estimate of $91.68 million. analysts anticipate that Union Bankshares Corp will post 1.86 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, November 27th. Shareholders of record on Monday, November 13th were issued a $0.21 dividend. The ex-dividend date was Friday, November 10th. This represents a $0.84 dividend on an annualized basis and a yield of 2.26%. This is an increase from Union Bankshares’s previous quarterly dividend of $0.20. Union Bankshares’s dividend payout ratio (DPR) is 46.67%.
UBSH has been the subject of several recent research reports. ValuEngine downgraded Union Bankshares from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. Zacks Investment Research raised Union Bankshares from a “sell” rating to a “hold” rating in a report on Thursday, October 5th. Finally, Brean Capital reaffirmed a “hold” rating on shares of Union Bankshares in a report on Monday, October 30th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the stock. Union Bankshares has a consensus rating of “Buy” and an average price target of $39.33.
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Union Bankshares 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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