Sandy Spring Bank acquired a new position in Union Bankshares Corporation (NYSE:AUB) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 5,343 shares of the company’s stock, valued at approximately $189,000.
A number of other hedge funds have also bought and sold shares of AUB. Janus Henderson Group PLC purchased a new position in Union Bankshares in the second quarter worth $73,430,000. Tributary Capital Management LLC purchased a new position in Union Bankshares in the second quarter worth $26,868,000. Vigilant Capital Management LLC purchased a new position in Union Bankshares in the second quarter worth $14,384,000. Systematic Financial Management LP purchased a new position in Union Bankshares in the second quarter worth $12,697,000. Finally, Wedge Capital Management L L P NC purchased a new position in Union Bankshares in the second quarter worth $11,990,000.
Several research analysts have weighed in on the company. Boenning Scattergood reissued a “hold” rating on shares of Union Bankshares in a research report on Friday, July 19th. Raymond James set a $40.00 price objective on Union Bankshares and gave the stock a “buy” rating in a research report on Friday, July 19th. Finally, Zacks Investment Research upgraded Union Bankshares from a “sell” rating to a “hold” rating in a research note on Monday.
Union Bankshares (NYSE:AUB) last issued its earnings results on Thursday, July 18th. The company reported $0.70 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.70. The firm had revenue of $169.17 million during the quarter, compared to the consensus estimate of $169.26 million.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Friday, August 2nd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, August 1st. This represents a $1.00 annualized dividend and a dividend yield of 2.75%.
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.
Further Reading: What are convertible shares?
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