Brokerages Expect Union Bankshares Corporation (NYSE:AUB) Will Announce Quarterly Sales of $168.54 Million

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Equities research analysts expect Union Bankshares Corporation (NYSE:AUB) to post sales of $168.54 million for the current quarter, according to Zacks. Two analysts have issued estimates for Union Bankshares’ earnings, with estimates ranging from $167.71 million to $169.37 million. Union Bankshares reported sales of $132.58 million in the same quarter last year, which indicates a positive year over year growth rate of 27.1%. The business is expected to announce its next earnings results on Tuesday, January 28th.

On average, analysts expect that Union Bankshares will report full year sales of $660.02 million for the current year, with estimates ranging from $655.94 million to $664.10 million. For the next year, analysts forecast that the business will post sales of $694.64 million, with estimates ranging from $680.54 million to $708.74 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Union Bankshares.

Union Bankshares (NYSE:AUB) last issued its earnings results on Thursday, October 17th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.18. The firm had revenue of $184.71 million during the quarter, compared to analysts’ expectations of $167.10 million.

AUB has been the subject of a number of recent research reports. Keefe, Bruyette & Woods lowered Union Bankshares from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $40.00 to $37.00 in a research note on Thursday, September 5th. Sandler O’Neill cut Union Bankshares from a “buy” rating to a “hold” rating in a research report on Wednesday, September 25th. They noted that the move was a valuation call. Zacks Investment Research cut Union Bankshares from a “hold” rating to a “sell” rating in a research report on Tuesday, September 17th. Raymond James set a $40.00 target price on Union Bankshares and gave the company a “buy” rating in a research report on Friday, July 19th. Finally, Boenning Scattergood restated a “hold” rating on shares of Union Bankshares in a research report on Friday, July 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $38.50.

NYSE AUB opened at $37.68 on Wednesday. The company’s 50-day moving average is $37.19. Union Bankshares has a fifty-two week low of $26.48 and a fifty-two week high of $40.20.

Large investors have recently bought and sold shares of the company. Salomon & Ludwin LLC acquired a new stake in Union Bankshares in the 2nd quarter worth about $26,000. Capital Investment Advisory Services LLC acquired a new position in shares of Union Bankshares during the 2nd quarter worth approximately $27,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Union Bankshares during the 2nd quarter worth approximately $27,000. Panagora Asset Management Inc. acquired a new position in shares of Union Bankshares during the 2nd quarter worth approximately $32,000. Finally, Signaturefd LLC acquired a new position in shares of Union Bankshares during the 2nd quarter worth approximately $47,000.

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.

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