Nuveen Asset Management LLC Takes $11.38 Million Position in Union Bankshares Corporation (NYSE:AUB)

Nuveen Asset Management LLC acquired a new stake in shares of Union Bankshares Corporation (NYSE:AUB) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 322,037 shares of the company’s stock, valued at approximately $11,378,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of AUB. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Union Bankshares during the second quarter valued at approximately $27,000. Capital Investment Advisory Services LLC bought a new stake in shares of Union Bankshares during the second quarter valued at about $27,000. Panagora Asset Management Inc. bought a new stake in shares of Union Bankshares during the second quarter valued at about $32,000. Signaturefd LLC bought a new stake in shares of Union Bankshares during the second quarter valued at about $47,000. Finally, FTB Advisors Inc. bought a new stake in shares of Union Bankshares during the second quarter valued at about $54,000.

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



Shares of AUB stock opened at $36.95 on Friday. Union Bankshares Corporation has a 12 month low of $26.48 and a 12 month high of $40.20. The stock’s 50 day simple moving average is $36.99.

Union Bankshares (NYSE:AUB) last issued its quarterly earnings results on Thursday, July 18th. The company reported $0.70 EPS for the quarter, hitting analysts’ consensus estimates of $0.70. The business had revenue of $169.17 million for the quarter, compared to analyst estimates of $169.26 million.

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.

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

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