Zacks: Brokerages Expect Union Bankshares Corp (UBSH) Will Announce Earnings of $0.68 Per Share

Equities analysts forecast that Union Bankshares Corp (NASDAQ:UBSH) will post $0.68 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Union Bankshares’ earnings. The lowest EPS estimate is $0.67 and the highest is $0.69. Union Bankshares reported earnings per share of $0.52 during the same quarter last year, which would indicate a positive year over year growth rate of 30.8%. The company is scheduled to announce its next earnings report before the market opens on Tuesday, January 22nd.

According to Zacks, analysts expect that Union Bankshares will report full-year earnings of $2.66 per share for the current fiscal year, with EPS estimates ranging from $2.57 to $2.75. For the next fiscal year, analysts forecast that the company will post earnings of $2.89 per share, with EPS estimates ranging from $2.81 to $2.95. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Union Bankshares.

Union Bankshares (NASDAQ:UBSH) last posted its earnings results on Wednesday, October 17th. The financial services provider reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.03). Union Bankshares had a net margin of 20.38% and a return on equity of 9.36%. The business had revenue of $125.85 million for the quarter, compared to analysts’ expectations of $132.49 million.



UBSH has been the topic of a number of recent analyst reports. Sandler O’Neill upgraded shares of Union Bankshares from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a report on Thursday, October 18th. Brean Capital restated a “buy” rating and issued a $42.00 price target on shares of Union Bankshares in a report on Thursday, October 18th. Compass Point upgraded shares of Union Bankshares from a “neutral” rating to a “buy” rating in a report on Wednesday, October 17th. Zacks Investment Research cut shares of Union Bankshares from a “strong-buy” rating to a “hold” rating in a report on Friday, October 12th. Finally, BidaskClub upgraded shares of Union Bankshares from a “sell” rating to a “hold” rating in a report on Friday, November 23rd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $43.13.

A number of hedge funds have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC boosted its stake in Union Bankshares by 22.5% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 6,974 shares of the financial services provider’s stock worth $271,000 after purchasing an additional 1,282 shares in the last quarter. First Hawaiian Bank boosted its stake in Union Bankshares by 18.0% in the 4th quarter. First Hawaiian Bank now owns 12,593 shares of the financial services provider’s stock worth $356,000 after purchasing an additional 1,921 shares in the last quarter. BRYN MAWR TRUST Co boosted its stake in Union Bankshares by 0.9% in the 3rd quarter. BRYN MAWR TRUST Co now owns 246,546 shares of the financial services provider’s stock worth $9,499,000 after purchasing an additional 2,103 shares in the last quarter. Mount Yale Investment Advisors LLC boosted its stake in Union Bankshares by 471.6% in the 2nd 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 in the last quarter. Finally, Legal & General Group Plc boosted its stake in Union Bankshares by 13.9% in the 3rd quarter. Legal & General Group Plc now owns 24,076 shares of the financial services provider’s stock worth $927,000 after purchasing an additional 2,933 shares in the last quarter. Institutional investors own 76.94% of the company’s stock.

Shares of NASDAQ:UBSH traded down $0.02 during trading on Friday, reaching $31.53. The stock had a trading volume of 8,732 shares, compared to its average volume of 432,266. Union Bankshares has a one year low of $26.48 and a one year high of $42.74. The stock has a market capitalization of $2.10 billion, a P/E ratio of 16.51 and a beta of 1.39. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.89 and a current ratio of 0.89.

About Union Bankshares

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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