Insider Selling: Union Bankshares Corporation (NYSE:AUB) Director Sells $140,700.00 in Stock

Union Bankshares Corporation (NYSE:AUB) Director Michael W. Clarke sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $23.45, for a total value of $140,700.00. Following the transaction, the director now owns 475,519 shares of the company’s stock, valued at approximately $11,150,920.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Shares of AUB stock opened at $22.92 on Friday. The business’s fifty day moving average is $22.29 and its 200 day moving average is $25.78. Union Bankshares Corporation has a twelve month low of $18.55 and a twelve month high of $40.20.

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

The business also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 7th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.36%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AUB. Norges Bank purchased a new stake in shares of Union Bankshares in the fourth quarter worth $33,327,000. Deprince Race & Zollo Inc. grew its stake in shares of Union Bankshares by 277.3% in the first quarter. Deprince Race & Zollo Inc. now owns 522,017 shares of the company’s stock worth $11,432,000 after acquiring an additional 383,661 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Union Bankshares by 14.4% in the first quarter. Janus Henderson Group PLC now owns 2,640,954 shares of the company’s stock worth $57,837,000 after acquiring an additional 331,857 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Union Bankshares by 30.9% in the first quarter. Franklin Resources Inc. now owns 846,694 shares of the company’s stock worth $18,543,000 after acquiring an additional 199,623 shares during the last quarter. Finally, Atlantic Union Bankshares Corp grew its stake in shares of Union Bankshares by 257.9% in the first quarter. Atlantic Union Bankshares Corp now owns 263,534 shares of the company’s stock worth $5,771,000 after acquiring an additional 189,891 shares during the last quarter.

A number of equities analysts recently commented on the company. Stephens upgraded Union Bankshares from an “equal weight” rating to an “overweight” rating in a report on Tuesday, May 5th. Piper Sandler assumed coverage on Union Bankshares in a report on Monday. They set a “neutral” rating for the company. Compass Point upgraded Union Bankshares from a “neutral” rating to a “buy” rating and set a $27.00 target price for the company in a report on Friday, July 24th. Zacks Investment Research upgraded Union Bankshares from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 30th. Finally, Raymond James downgraded Union Bankshares from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 29th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock 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.

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

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