Pitcairn Co. reduced its position in shares of Union Bankshares Corporation (NASDAQ:UBSH) by 4.0% during the second quarter, Holdings Channel reports. The institutional investor owned 7,363 shares of the financial services provider’s stock after selling 307 shares during the period. Pitcairn Co.’s holdings in Union Bankshares Corporation were worth $250,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its position in Union Bankshares Corporation by 2.9% in the first quarter. Dimensional Fund Advisors LP now owns 3,519,938 shares of the financial services provider’s stock worth $123,832,000 after buying an additional 100,474 shares in the last quarter. BlackRock Inc. boosted its position in Union Bankshares Corporation by 15,378.0% in the first quarter. BlackRock Inc. now owns 3,105,815 shares of the financial services provider’s stock worth $109,261,000 after buying an additional 3,085,749 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its position in Union Bankshares Corporation by 1.5% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 2,382,950 shares of the financial services provider’s stock worth $80,783,000 after buying an additional 36,050 shares in the last quarter. Vanguard Group Inc. boosted its position in Union Bankshares Corporation by 4.6% in the first quarter. Vanguard Group Inc. now owns 2,077,123 shares of the financial services provider’s stock worth $73,073,000 after buying an additional 90,397 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in Union Bankshares Corporation by 1.4% in the first quarter. Renaissance Technologies LLC now owns 693,705 shares of the financial services provider’s stock worth $24,405,000 after buying an additional 9,500 shares in the last quarter. Hedge funds and other institutional investors own 62.73% of the company’s stock.

Union Bankshares Corporation (UBSH) opened at 31.24 on Friday. The firm has a market capitalization of $1.37 billion, a PE ratio of 17.41 and a beta of 1.23. The firm’s 50-day moving average price is $32.46 and its 200-day moving average price is $34.31. Union Bankshares Corporation has a 1-year low of $26.13 and a 1-year high of $39.37.

Union Bankshares Corporation (NASDAQ:UBSH) last released its earnings results on Wednesday, July 19th. The financial services provider reported $0.46 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.46. The firm had revenue of $87.06 million during the quarter, compared to analysts’ expectations of $89.67 million. Union Bankshares Corporation had a net margin of 20.42% and a return on equity of 7.97%. On average, equities research analysts predict that Union Bankshares Corporation will post $1.86 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, August 18th. Shareholders of record on Friday, August 4th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, August 2nd. This represents a $0.80 annualized dividend and a yield of 2.56%. Union Bankshares Corporation’s payout ratio is currently 44.44%.

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UBSH has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods upgraded Union Bankshares Corporation from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $37.00 to $38.00 in a report on Tuesday, May 23rd. Raymond James Financial, Inc. upgraded Union Bankshares Corporation from an “outperform” rating to a “strong-buy” rating in a report on Wednesday, May 24th. Brean Capital reiterated a “hold” rating on shares of Union Bankshares Corporation in a report on Wednesday, August 2nd. BidaskClub cut Union Bankshares Corporation from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 25th. Finally, Zacks Investment Research cut Union Bankshares Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Two analysts have rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $39.25.

Union Bankshares Corporation Company 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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Institutional Ownership by Quarter for Union Bankshares Corporation (NASDAQ:UBSH)

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