Zacks Investment Research Downgrades Union Bankshares (UBSH) to Sell

Union Bankshares (NASDAQ:UBSH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.

According to Zacks, “Union Bankshares Corporation is the holding company for Union First Market Bank. The Company operates through two segments, Community Bank and Mortgage. The Banks offer a wide range of banking and related financial services including checking, savings, certificates of deposit and other depository services, discount brokerage services, and a variety of loans. It provides credit cards, automated teller machine services, Internet banking services, and online bill payment services, as well as private banking and trust services to individuals and corporations. Union Bankshares Corporation, formerly Union First Market Bankshares Corporation, is headquartered in Richmond, Virginia. “

A number of other research firms have also weighed in on UBSH. BidaskClub lowered shares of Union Bankshares from a “hold” rating to a “sell” rating in a research note on Thursday, September 13th. Brean Capital restated a “hold” rating on shares of Union Bankshares in a report on Sunday, September 30th. Compass Point downgraded shares of Union Bankshares from a “buy” rating to a “hold” rating and set a $41.00 price target for the company. in a report on Sunday, October 7th. Sandler O’Neill upgraded shares of Union Bankshares from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a report on Thursday, October 18th. Finally, ValuEngine downgraded shares of Union Bankshares from a “hold” rating to a “sell” rating in a report on Wednesday, October 17th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Union Bankshares currently has a consensus rating of “Buy” and a consensus price target of $43.13.



UBSH opened at $31.47 on Thursday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.89 and a current ratio of 0.89. Union Bankshares has a 1-year low of $26.48 and a 1-year high of $42.74. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of 16.48 and a beta of 1.39.

Union Bankshares (NASDAQ:UBSH) last released its earnings results on Wednesday, October 17th. The financial services provider reported $0.61 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.03). Union Bankshares had a return on equity of 9.36% and a net margin of 20.38%. The business had revenue of $125.85 million during the quarter, compared to analysts’ expectations of $132.49 million. Sell-side analysts forecast that Union Bankshares will post 2.66 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in UBSH. Mount Yale Investment Advisors LLC increased its holdings 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 valued at $106,000 after purchasing an additional 2,240 shares during the last quarter. Strs Ohio acquired a new stake in Union Bankshares in the 2nd quarter valued at approximately $116,000. JNBA Financial Advisors acquired a new stake in Union Bankshares in the 3rd quarter valued at approximately $221,000. Envestnet Asset Management Inc. acquired a new stake in Union Bankshares in the 3rd quarter valued at approximately $222,000. Finally, BB&T Securities LLC acquired a new stake in Union Bankshares in the 2nd quarter valued at approximately $227,000. Institutional investors and hedge funds own 76.94% of the company’s stock.

Union Bankshares Company Profile

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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