Market Overview

UPDATE: Compass Point Initiates Union First Market Bankshares at Buy on Execution, Capital

Related UBSH
Union First Market Bankshares Completes Acquisition of StellarOne Corporation
Afternoon Market Gainers

Compass Point initiated coverage on Union First Market Bankshares (NASDAQ: UBSH) with a Buy rating and a $17.50 price target.

Compass Point commented, "We believe the bank is in a position of strength as it has been led by the same CEO since its inception in 1993, has never lost money through the downturn, has repaid their $36MM in TARP a year ago, and has built very strong capital levels. As support, management recently announced a 750K share repurchase program that is approved through 2013."

Union First Market Bankshares closed at $15.38 on Thursday.

Posted-In: Compass PointAnalyst Color Initiation Intraday Update Analyst Ratings

 

Most Popular

Related Articles (UBSH)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free