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Jim Van Meerten
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Jim Van Meerten is an advisor to Marketocracy Capital Management and writes on financial subjects here and on Barchart Portfolio Blogs and Seeking Alpha. He earned a BS in Accounting and Business Administration from Berry College; a Juris Doctorate from the Woodrow Wilson School of Law; and... More
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  • Union First Market Bankshares - Chart Of The Day 0 comments
    Oct 23, 2013 3:57 PM | about stocks: UBSH

    The Chart of the Day is Union First Market Bankshares (NASDAQ:UBSH). I found the stock by sorting the New High List for frequency then panned through the charts using the Flipchart feature. Normally, I find a stock right near the top of the list but today I had to flip through a lot of chart to find one that I really liked.

    It is a community banking organization based in Virginia, providing full-service banking to the Northern, Central, Rappahannock, Tidewater, and Northern Neck regions of Virginia through its bank subsidiaries. Its bank subsidiaries include Union Bank and Trust Company, First Market Bank, Northern Neck State Bank, and Rappahannock National Bank, which provide a range of retail and commercial banking services to consumers and businesses in Virginia.

    (click to enlarge)

    Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.

    Barchart technical indicators:

    • 96% Barchart technical buy signals
    • Trend Spotter buy signal
    • Above its 20, 50 and 100 day moving averages
    • 16 new highs and up 12.12% in the last month
    • Relative Strength Index 82.41%
    • Barchart computes a technical support level at 25.31
    • Recently traded at 25.99 with a 50 day moving average of 23.14


    Fundamental factors:

     

    • Market Cap $646.33 million
    • P/E 16.91
    • Dividend yield 2.18%
    • Revenue predicted to be up 70.30% next year
    • Earnings estimated to increase 12.40% this year, an additional 9.70% next year and continue to grow by 8.00% annually for the next 5 years
    • Wall Street analysts issued 2 strong buy, 3 buy and 2 hold recommendations
    • Financial Strength is B


    This is a strong growing bank but still watch that 50 day moving average for pricing weakness.

    Stocks: UBSH
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