Atlantic Union Bankshares Corp Sells 8,577 Shares of Atlantic Union Bankshares Co. (NASDAQ:AUB)

Atlantic Union Bankshares Corp decreased its position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 3.0% during the first quarter, Holdings Channel reports. The institutional investor owned 278,738 shares of the company’s stock after selling 8,577 shares during the period. Atlantic Union Bankshares makes up approximately 0.8% of Atlantic Union Bankshares Corp’s investment portfolio, making the stock its 26th biggest position. Atlantic Union Bankshares Corp’s holdings in Atlantic Union Bankshares were worth $9,842,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of AUB. Vanguard Group Inc. boosted its position in Atlantic Union Bankshares by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 9,290,826 shares of the company’s stock valued at $339,487,000 after buying an additional 111,580 shares during the period. Dimensional Fund Advisors LP lifted its position in Atlantic Union Bankshares by 0.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,917,470 shares of the company’s stock valued at $179,687,000 after acquiring an additional 28,655 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Atlantic Union Bankshares by 0.6% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,723,002 shares of the company’s stock valued at $62,958,000 after purchasing an additional 10,969 shares in the last quarter. Victory Capital Management Inc. increased its stake in Atlantic Union Bankshares by 2.9% during the 4th quarter. Victory Capital Management Inc. now owns 1,449,785 shares of the company’s stock valued at $52,975,000 after purchasing an additional 40,659 shares in the last quarter. Finally, Northern Trust Corp increased its stake in Atlantic Union Bankshares by 0.3% during the 3rd quarter. Northern Trust Corp now owns 977,763 shares of the company’s stock valued at $28,140,000 after purchasing an additional 3,364 shares in the last quarter. Hedge funds and other institutional investors own 78.58% of the company’s stock.

Insider Buying and Selling at Atlantic Union Bankshares

In other news, Director Frank Russell Ellett acquired 4,467 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were bought at an average price of $30.85 per share, for a total transaction of $137,806.95. Following the acquisition, the director now owns 56,801 shares of the company’s stock, valued at approximately $1,752,310.85. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.87% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on AUB. Piper Sandler cut their price target on shares of Atlantic Union Bankshares from $40.00 to $38.00 and set an “overweight” rating on the stock in a research note on Monday, April 29th. Stephens cut their price objective on shares of Atlantic Union Bankshares from $43.00 to $40.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 24th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Atlantic Union Bankshares from $36.00 to $35.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 24th.

Atlantic Union Bankshares Stock Performance

Shares of NASDAQ:AUB traded up $0.91 during midday trading on Friday, reaching $32.85. The company’s stock had a trading volume of 1,250,368 shares, compared to its average volume of 395,881. The stock has a fifty day moving average of $32.48 and a 200 day moving average of $33.77. Atlantic Union Bankshares Co. has a twelve month low of $25.27 and a twelve month high of $37.86. The firm has a market capitalization of $2.95 billion, a PE ratio of 12.08 and a beta of 0.92. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.15.

Atlantic Union Bankshares (NASDAQ:AUB) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.04). Atlantic Union Bankshares had a return on equity of 9.47% and a net margin of 19.51%. The firm had revenue of $288.47 million for the quarter, compared to analysts’ expectations of $178.82 million. During the same period last year, the company posted $0.63 earnings per share. On average, equities analysts expect that Atlantic Union Bankshares Co. will post 2.95 EPS for the current fiscal year.

Atlantic Union Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 24th were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $1.28 annualized dividend and a yield of 3.90%. Atlantic Union Bankshares’s dividend payout ratio (DPR) is currently 47.06%.

Atlantic Union Bankshares Profile

Atlantic Union Bankshares Corporation operates as the bank holding company for Atlantic Union Bank that provides banking and related financial products and services to consumers and businesses in the United States. It operates in two segments, Wholesale Banking and Consumer Banking. The company accepts various deposit products, including checking, savings, time deposit, and money market accounts; certificates of deposit; and other depository services.