Union Bankshares Corporation (NYSE:AUB) Director Michael W. Clarke Sells 2,000 Shares

Union Bankshares Corporation (NYSE:AUB) Director Michael W. Clarke sold 2,000 shares of Union Bankshares stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $22.50, for a total value of $45,000.00. Following the transaction, the director now directly owns 495,519 shares of the company’s stock, valued at $11,149,177.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Union Bankshares stock opened at $22.65 on Tuesday. The stock has a 50-day simple moving average of $22.72 and a 200 day simple moving average of $28.22. Union Bankshares Corporation has a 12-month low of $18.55 and a 12-month high of $40.20.

Union Bankshares (NYSE:AUB) last released its quarterly earnings results on Tuesday, April 28th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.39). The company had revenue of $163.92 million during the quarter, compared to analyst estimates of $161.75 million.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Wednesday, May 20th were given a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $1.00 dividend on an annualized basis and a yield of 4.42%.

A number of research analysts have issued reports on the company. Zacks Investment Research cut Union Bankshares from a “hold” rating to a “sell” rating in a report on Tuesday, April 21st. Compass Point cut Union Bankshares from a “buy” rating to a “neutral” rating and set a $31.00 price objective for the company. in a report on Wednesday, March 4th. Raymond James cut Union Bankshares from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 29th. Finally, Stephens raised Union Bankshares from an “equal weight” rating to an “overweight” rating in a report on Tuesday, May 5th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. Union Bankshares has a consensus rating of “Hold” and a consensus price target of $37.50.

A number of hedge funds have recently made changes to their positions in AUB. FDx Advisors Inc. acquired a new stake in Union Bankshares in the first quarter worth about $100,000. Americana Partners LLC acquired a new stake in Union Bankshares in the fourth quarter worth about $116,000. Quantbot Technologies LP acquired a new stake in Union Bankshares in the fourth quarter worth about $117,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Union Bankshares by 10.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,993 shares of the company’s stock worth $131,000 after purchasing an additional 558 shares during the period. Finally, Great West Life Assurance Co. Can acquired a new position in shares of Union Bankshares during the 4th quarter worth about $219,000.

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.

Further Reading: Insider Trading

Insider Buying and Selling by Quarter for Union Bankshares (NYSE:AUB)

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