Oppenheimer Asset Management Inc. trimmed its holdings in Union Bankshares Corporation (NYSE:AUB) by 6.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 16,310 shares of the company’s stock after selling 1,126 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Union Bankshares were worth $607,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. bought a new position in shares of Union Bankshares during the 2nd quarter valued at approximately $243,332,000. BlackRock Inc. purchased a new stake in Union Bankshares during the 2nd quarter valued at $197,900,000. Janus Henderson Group PLC purchased a new stake in Union Bankshares during the 2nd quarter valued at $73,430,000. Bank of New York Mellon Corp purchased a new stake in Union Bankshares during the 2nd quarter valued at $56,969,000. Finally, Vaughan Nelson Investment Management L.P. purchased a new stake in Union Bankshares during the 2nd quarter valued at $53,818,000.
A number of research firms have weighed in on AUB. Raymond James upgraded Union Bankshares from an “outperform” rating to a “strong-buy” rating in a research note on Wednesday, October 23rd. Boenning Scattergood reiterated a “hold” rating on shares of Union Bankshares in a research note on Friday, July 19th. Zacks Investment Research lowered Union Bankshares from a “hold” rating to a “sell” rating in a research note on Tuesday, September 17th. Keefe, Bruyette & Woods lowered Union Bankshares from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $40.00 to $37.00 in a research note on Thursday, September 5th. Finally, Sandler O’Neill lowered 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a strong buy rating to the stock. Union Bankshares currently has a consensus rating of “Hold” and an average target price of $38.50.
Union Bankshares (NYSE:AUB) last released its earnings results on Thursday, October 17th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.18. The business had revenue of $184.71 million during the quarter, compared to analysts’ expectations of $167.10 million.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, November 7th. This represents a $1.00 annualized dividend and a dividend yield of 2.61%.
In other news, Director Ronald L. Tillett sold 1,300 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $37.85, for a total transaction of $49,205.00.
Union Bankshares Company 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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