Nuveen Asset Management LLC acquired a new stake in shares of Union Bankshares Corporation (NYSE:AUB) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 322,037 shares of the company’s stock, valued at approximately $11,378,000. Nuveen Asset Management LLC owned 0.39% of Union Bankshares at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of AUB. Vanguard Group Inc. purchased a new stake in Union Bankshares in the 2nd quarter valued at $243,332,000. BlackRock Inc. purchased a new position in shares of Union Bankshares in the 2nd quarter valued at about $197,900,000. Janus Henderson Group PLC purchased a new position in shares of Union Bankshares in the 2nd quarter valued at about $73,430,000. Bank of New York Mellon Corp purchased a new position in shares of Union Bankshares in the 2nd quarter valued at about $56,969,000. Finally, Vaughan Nelson Investment Management L.P. purchased a new position in shares of Union Bankshares in the 2nd quarter valued at about $53,818,000.
AUB has been the subject of a number of research analyst reports. Boenning Scattergood reiterated a “hold” rating on shares of Union Bankshares in a report on Friday, July 19th. Zacks Investment Research downgraded shares of Union Bankshares from a “hold” rating to a “sell” rating in a report on Tuesday, September 17th. Sandler O’Neill downgraded shares of Union Bankshares from a “buy” rating to a “hold” rating in a report on Wednesday, September 25th. They noted that the move was a valuation call. Raymond James set a $40.00 price target on shares of Union Bankshares and gave the company a “buy” rating in a report on Friday, July 19th. Finally, Keefe, Bruyette & Woods downgraded shares of Union Bankshares from an “outperform” rating to a “market perform” rating and cut their price target for the company from $40.00 to $37.00 in a report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $38.50.
Union Bankshares (NYSE:AUB) last issued its quarterly earnings data on Thursday, July 18th. The company reported $0.70 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.70. The business had revenue of $169.17 million during the quarter, compared to analyst estimates of $169.26 million.
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.
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