Vanguard Group Inc. Takes $243.33 Million Position in Union Bankshares Corporation (NYSE:AUB)

Vanguard Group Inc. acquired a new stake in Union Bankshares Corporation (NYSE:AUB) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,887,395 shares of the company’s stock, valued at approximately $243,332,000. Vanguard Group Inc. owned 8.39% of Union Bankshares as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Union Bankshares during the second quarter worth $27,000. Capital Investment Advisory Services LLC acquired a new stake in shares of Union Bankshares during the second quarter worth $27,000. Panagora Asset Management Inc. acquired a new stake in shares of Union Bankshares during the second quarter worth $32,000. Signaturefd LLC acquired a new stake in shares of Union Bankshares during the second quarter worth $47,000. Finally, FTB Advisors Inc. acquired a new stake in shares of Union Bankshares during the second quarter worth $54,000.

A number of brokerages have recently issued reports on AUB. Sandler O’Neill lowered Union Bankshares from a “buy” rating to a “hold” rating in a research report on Wednesday, September 25th. They noted that the move was a valuation call. Keefe, Bruyette & Woods lowered Union Bankshares from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $40.00 to $37.00 in a research report on Thursday, September 5th. Boenning Scattergood reaffirmed a “hold” rating on shares of Union Bankshares in a research report on Friday, July 19th. Zacks Investment Research lowered Union Bankshares from a “hold” rating to a “sell” rating in a research report on Tuesday, September 17th. Finally, Raymond James set a $40.00 price target on Union Bankshares and gave the company a “buy” rating in a research report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $38.50.

NYSE:AUB traded up $0.03 during trading hours on Thursday, hitting $36.33. 2,293 shares of the company’s stock traded hands, compared to its average volume of 308,133. Union Bankshares Corporation has a twelve month low of $26.48 and a twelve month high of $40.20. The stock has a fifty day moving average price of $36.91.

Union Bankshares (NYSE:AUB) last posted its quarterly earnings results on Thursday, July 18th. The company reported $0.70 earnings per share for the quarter, meeting the consensus estimate of $0.70. The business had revenue of $169.17 million for the quarter, compared to analyst estimates of $169.26 million.

About Union Bankshares

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.

Recommended Story: Coverage Ratio

Institutional Ownership by Quarter for Union Bankshares (NYSE:AUB)

Receive News & Ratings for Union Bankshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Union Bankshares and related companies with MarketBeat.com's FREE daily email newsletter.