Stock Mover of the Day: Could Union Bankshares Corp Go Down After Reaching 52-Week High?

Stock Mover of the Day: Could Union Bankshares Corp Go Down After Reaching 52 Week High?

The stock of Union Bankshares Corp (NASDAQ:UBSH) hit a new 52-week high and has $37.20 target or 33.00% above today’s $27.97 share price. The 7 months bullish chart indicates low risk for the $1.23 billion company. The 1-year high was reported on Oct, 28 by Barchart.com. If the $37.20 price target is reached, the company will be worth $405.90M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 17,424 shares traded hands. Union Bankshares Corp (NASDAQ:UBSH) has risen 16.04% since March 28, 2016 and is uptrending. It has outperformed by 11.33% the S&P500.

Union Bankshares Corp (NASDAQ:UBSH) Ratings Coverage

Out of 6 analysts covering Union First Market Bankshares Corporation (NASDAQ:UBSH), 1 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 17% are positive. Union First Market Bankshares Corporation has been the topic of 10 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The stock has “Neutral” rating given by Robert W. Baird on Thursday, April 21. The firm has “Buy” rating given on Wednesday, July 22 by Compass Point. The stock of Union Bankshares Corp (NASDAQ:UBSH) has “Buy” rating given on Wednesday, October 21 by Compass Point. The stock of Union Bankshares Corp (NASDAQ:UBSH) earned “Neutral” rating by Compass Point on Tuesday, May 24. On Tuesday, August 18 the stock rating was upgraded by Zacks to “Sell”. Raymond James upgraded the stock to “Strong Buy” rating in Monday, March 28 report.

According to Zacks Investment Research, “Union Bankshares Corporation is the holding company for Union First Market Bank. The Company operates through two segments, Community Bank and Mortgage. The Banks offer a wide range of banking and related financial services including checking, savings, certificates of deposit and other depository services, discount brokerage services, and a variety of loans. It provides credit cards, automated teller machine services, Internet banking services, and online bill payment services, as well as private banking and trust services to individuals and corporations. Union Bankshares Corporation, formerly Union First Market Bankshares Corporation, is headquartered in Richmond, Virginia.”

Insitutional Activity: The institutional sentiment decreased to 0.95 in 2016 Q2. Its down 0.38, from 1.33 in 2016Q1. The ratio dropped, as 12 funds sold all Union Bankshares Corp shares owned while 49 reduced positions. 21 funds bought stakes while 37 increased positions. They now own 24.85 million shares or 1.52% less from 25.24 million shares in 2016Q1.
First Trust L P has invested 0.01% of its portfolio in Union Bankshares Corp (NASDAQ:UBSH). Invesco Ltd has 43,344 shares for 0% of their US portfolio. Thrivent For Lutherans last reported 0% of its portfolio in the stock. Legal & General Grp Public Limited has invested 0% of its portfolio in Union Bankshares Corp (NASDAQ:UBSH). Citigroup, a New York-based fund reported 6,247 shares. Rhumbline Advisers reported 77,732 shares or 0.01% of all its holdings. Oak Associate Ltd Oh holds 15,185 shares or 0.05% of its portfolio. Moreover, Deutsche Financial Bank Ag has 0% invested in Union Bankshares Corp (NASDAQ:UBSH) for 67,946 shares. Blackrock Institutional Com Na holds 0% of its portfolio in Union Bankshares Corp (NASDAQ:UBSH) for 1.22M shares. Blackrock Group Ltd owns 31,751 shares or 0% of their US portfolio. Silvercrest Asset Ltd has 0.02% invested in the company for 62,950 shares. Amer International Group last reported 24,977 shares in the company. Moreover, Teachers Retirement Sys Of The State Of Kentucky has 0.01% invested in Union Bankshares Corp (NASDAQ:UBSH) for 26,780 shares. Lsv Asset Management holds 0.01% or 146,340 shares in its portfolio. Moreover, Amg Trust Bank has 0.08% invested in Union Bankshares Corp (NASDAQ:UBSH) for 36,102 shares.

More news for Union Bankshares Corp (NASDAQ:UBSH) were recently published by: Nasdaq.com, which released: “Union Bankshares Corporation Names John C. Asbury President; To Succeed G …” on August 24, 2016. Globenewswire.com‘s article titled: “Union Bankshares Corporation to Present at Keefe, Bruyette & Woods 2016 …” and published on July 26, 2016 is yet another important article.

UBSH Company Profile

Union Bankshares Corporation, formerly Union First Market Bankshares Corporation, incorporated on December 20, 1991, is a financial holding firm and a bank holding company. The Firm offers financial services through its community bank subsidiary, Union Bank & Trust and three non-bank financial services affiliates. The Company’s non-bank financial services affiliates are Union Mortgage Group, Inc. (UMG), Union Investment Services, Inc. and Union Insurance Group, LLC. The Company’s UMG provides a range of mortgage products; Union Investment Services, Inc. provides securities, brokerage and investment advisory services, and Union Insurance Group, LLC, an insurance agency, which operates in a joint venture. The Firm operates through two divisions: its traditional full service community banking business and its mortgage banking business. The community bank segment includes one subsidiary bank, which provides loan, deposit, investment and trust services to retail and commercial clients throughout its over 131 retail locations in Virginia. The mortgage segment includes UMG, which provides a range of mortgage loan products in Virginia, North Carolina, South Carolina, Maryland, and the Washington D.C. metro area.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Related posts

Leave a Comment