Atlantic Union Bankshares Corp Raises Position in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Atlantic Union Bankshares Corp raised its holdings in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 7.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 494,921 shares of the company’s stock after acquiring an additional 36,232 shares during the period. Atlantic Union Bankshares makes up about 1.1% of Atlantic Union Bankshares Corp’s investment portfolio, making the stock its 18th largest position. Atlantic Union Bankshares Corp’s holdings in Atlantic Union Bankshares were worth $18,642,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Natixis Advisors LLC raised its position in shares of Atlantic Union Bankshares by 24.2% during the 3rd quarter. Natixis Advisors LLC now owns 60,782 shares of the company’s stock valued at $2,290,000 after buying an additional 11,832 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Atlantic Union Bankshares in the 2nd quarter worth about $4,096,000. Bank of New York Mellon Corp raised its holdings in shares of Atlantic Union Bankshares by 45.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,180,199 shares of the company’s stock valued at $38,770,000 after buying an additional 368,190 shares in the last quarter. International Assets Investment Management LLC bought a new stake in Atlantic Union Bankshares in the 3rd quarter worth approximately $7,660,000. Finally, Pinnacle Associates Ltd. boosted its stake in Atlantic Union Bankshares by 8.6% in the third quarter. Pinnacle Associates Ltd. now owns 290,468 shares of the company’s stock worth $10,614,000 after buying an additional 23,087 shares in the last quarter. 78.58% of the stock is currently owned by institutional investors.

Atlantic Union Bankshares Trading Down 0.8 %

NASDAQ:AUB opened at $42.24 on Friday. The firm has a market capitalization of $3.79 billion, a P/E ratio of 14.62 and a beta of 0.89. Atlantic Union Bankshares Co. has a 52 week low of $30.22 and a 52 week high of $44.54. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.13. The company has a fifty day moving average of $39.09 and a 200 day moving average of $36.77.

Atlantic Union Bankshares (NASDAQ:AUB) last posted its earnings results on Monday, October 21st. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.01. The company had revenue of $358.81 million for the quarter, compared to analysts’ expectations of $226.70 million. Atlantic Union Bankshares had a return on equity of 8.85% and a net margin of 16.25%. During the same period last year, the firm earned $0.80 earnings per share. On average, research analysts predict that Atlantic Union Bankshares Co. will post 2.93 earnings per share for the current year.

Atlantic Union Bankshares Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date was Friday, November 8th. This is an increase from Atlantic Union Bankshares’s previous quarterly dividend of $0.32. Atlantic Union Bankshares’s dividend payout ratio is currently 56.43%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on AUB shares. Raymond James lowered their price objective on shares of Atlantic Union Bankshares from $45.00 to $41.00 and set an “outperform” rating for the company in a report on Wednesday, October 2nd. Hovde Group lowered their price target on shares of Atlantic Union Bankshares from $46.00 to $45.00 and set an “outperform” rating for the company in a research note on Friday, September 13th. Finally, Keefe, Bruyette & Woods raised their price objective on Atlantic Union Bankshares from $42.00 to $46.00 and gave the company a “market perform” rating in a research note on Friday, November 22nd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $42.00.

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.