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

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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.

Latest Ratings for UBSH

DateFirmActionFromTo
Nov 2016Compass PointDowngradesNeutralSell
Jul 2016Keefe Bruyette & WoodsMaintainsMarket Perform
Apr 2016BairdMaintainsNeutral

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

 

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