Insider Selling: Union Bankshares Corporation (NYSE:AUB) Director Sells $45,000.00 in Stock

Union Bankshares Corporation (NYSE:AUB) Director Michael W. Clarke sold 2,000 shares of the business’s stock in a transaction on Tuesday, July 21st. The shares were sold at an average price of $22.50, for a total transaction of $45,000.00. Following the sale, the director now directly owns 481,519 shares in the company, valued at $10,834,177.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

NYSE AUB opened at $23.58 on Friday. The stock has a 50-day simple moving average of $22.70 and a two-hundred day simple moving average of $26.19. Union Bankshares Corporation has a fifty-two week low of $18.55 and a fifty-two week high of $40.20.

Union Bankshares (NYSE:AUB) last issued its earnings results on Thursday, July 23rd. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.09. The company had revenue of $173.24 million during the quarter, compared to analysts’ expectations of $155.04 million.

Institutional investors have recently added to or reduced their stakes in the business. FDx Advisors Inc. acquired a new stake in shares of Union Bankshares during the 1st quarter worth approximately $100,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Union Bankshares by 10.3% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,993 shares of the company’s stock valued at $131,000 after purchasing an additional 558 shares during the period. Strs Ohio boosted its holdings in Union Bankshares by 17.9% during the second quarter. Strs Ohio now owns 6,600 shares of the company’s stock worth $152,000 after buying an additional 1,000 shares in the last quarter. Great West Life Assurance Co. Can acquired a new stake in Union Bankshares during the fourth quarter valued at $219,000. Finally, Cubist Systematic Strategies LLC purchased a new position in Union Bankshares in the fourth quarter valued at $234,000.

A number of analysts have commented on the company. Compass Point raised Union Bankshares from a “neutral” rating to a “buy” rating and set a $27.00 price target for the company in a research report on Friday. Raymond James downgraded Union Bankshares from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 29th. Stephens upgraded Union Bankshares from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, May 5th. Finally, Zacks Investment Research raised shares of Union Bankshares from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 30th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $36.50.

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.

Further Reading: Return On Assets

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

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