Atlantic Union Bankshares Co. (NASDAQ:AUB) Shares Sold by Tributary Capital Management LLC

Tributary Capital Management LLC reduced its position in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 0.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 599,299 shares of the company’s stock after selling 2,284 shares during the period. Atlantic Union Bankshares comprises 1.8% of Tributary Capital Management LLC’s investment portfolio, making the stock its 22nd biggest position. Tributary Capital Management LLC’s holdings in Atlantic Union Bankshares were worth $22,576,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Park Avenue Securities LLC increased its holdings in Atlantic Union Bankshares by 4.6% in the 1st quarter. Park Avenue Securities LLC now owns 10,178 shares of the company’s stock valued at $359,000 after purchasing an additional 444 shares in the last quarter. Maryland State Retirement & Pension System raised its stake in Atlantic Union Bankshares by 18.1% during the first quarter. Maryland State Retirement & Pension System now owns 32,206 shares of the company’s stock valued at $1,137,000 after buying an additional 4,942 shares in the last quarter. BNP Paribas Financial Markets grew its position in shares of Atlantic Union Bankshares by 106.4% in the 1st quarter. BNP Paribas Financial Markets now owns 43,507 shares of the company’s stock worth $1,536,000 after acquiring an additional 22,432 shares in the last quarter. Fifth Lane Capital LP bought a new stake in shares of Atlantic Union Bankshares in the 1st quarter valued at approximately $1,560,000. Finally, Central Pacific Bank Trust Division bought a new stake in shares of Atlantic Union Bankshares during the 1st quarter valued at about $179,000. 78.58% of the stock is currently owned by hedge funds and other institutional investors.

Atlantic Union Bankshares Trading Down 0.8 %

Shares of NASDAQ AUB opened at $36.81 on Monday. The business has a fifty day simple moving average of $37.82 and a 200-day simple moving average of $35.48. The company has a market cap of $3.30 billion, a price-to-earnings ratio of 12.74 and a beta of 0.89. Atlantic Union Bankshares Co. has a 12 month low of $27.63 and a 12 month high of $42.50. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.13.

Atlantic Union Bankshares (NASDAQ:AUB) last released its earnings results on Monday, October 21st. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.01. Atlantic Union Bankshares had a net margin of 16.25% and a return on equity of 8.85%. The business had revenue of $358.81 million for the quarter, compared to the consensus estimate of $226.70 million. During the same period last year, the firm posted $0.80 earnings per share. Sell-side analysts predict that Atlantic Union Bankshares Co. will post 3.05 EPS for the current year.

Atlantic Union Bankshares Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be paid a dividend of $0.34 per share. This is a positive change from Atlantic Union Bankshares’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.36 annualized dividend and a dividend yield of 3.69%. Atlantic Union Bankshares’s dividend payout ratio is 53.11%.

Wall Street Analyst Weigh In

AUB has been the topic of a number of recent research reports. Raymond James cut their target price on shares of Atlantic Union Bankshares from $45.00 to $41.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. Keefe, Bruyette & Woods boosted their price target on shares of Atlantic Union Bankshares from $35.00 to $38.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th. Finally, Hovde Group dropped their target price on shares of Atlantic Union Bankshares from $46.00 to $45.00 and set an “outperform” rating on the stock in a report on Friday, September 13th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $40.40.

About Atlantic Union Bankshares

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.