Atlantic Union Bankshares Co. $AUB Stock Holdings Boosted by Tributary Capital Management LLC

Tributary Capital Management LLC boosted its stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 8.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 738,716 shares of the company’s stock after purchasing an additional 55,921 shares during the period. Atlantic Union Bankshares makes up approximately 2.0% of Tributary Capital Management LLC’s portfolio, making the stock its 9th biggest holding. Tributary Capital Management LLC owned approximately 0.52% of Atlantic Union Bankshares worth $23,107,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of AUB. Vanguard Group Inc. raised its stake in Atlantic Union Bankshares by 8.9% during the first quarter. Vanguard Group Inc. now owns 11,932,493 shares of the company’s stock worth $371,578,000 after purchasing an additional 978,793 shares during the period. Millennium Management LLC raised its stake in Atlantic Union Bankshares by 152.3% during the first quarter. Millennium Management LLC now owns 1,136,526 shares of the company’s stock worth $35,391,000 after purchasing an additional 686,137 shares during the period. Invesco Ltd. raised its stake in Atlantic Union Bankshares by 207.5% during the first quarter. Invesco Ltd. now owns 1,016,402 shares of the company’s stock worth $31,651,000 after purchasing an additional 685,832 shares during the period. Goldman Sachs Group Inc. raised its stake in Atlantic Union Bankshares by 36.0% during the first quarter. Goldman Sachs Group Inc. now owns 2,137,072 shares of the company’s stock worth $66,548,000 after purchasing an additional 565,564 shares during the period. Finally, Stieven Capital Advisors L.P. purchased a new position in Atlantic Union Bankshares during the first quarter worth approximately $12,923,000. Hedge funds and other institutional investors own 78.58% of the company’s stock.

Insider Activity

In other Atlantic Union Bankshares news, CEO John C. Asbury purchased 7,500 shares of the firm’s stock in a transaction dated Monday, July 28th. The stock was acquired at an average cost of $32.91 per share, with a total value of $246,825.00. Following the acquisition, the chief executive officer owned 270,532 shares of the company’s stock, valued at approximately $8,903,208.12. This represents a 2.85% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Frank Russell Ellett purchased 1,441 shares of the firm’s stock in a transaction dated Friday, August 8th. The stock was acquired at an average cost of $31.49 per share, with a total value of $45,377.09. Following the completion of the acquisition, the director directly owned 78,047 shares in the company, valued at approximately $2,457,700.03. This trade represents a 1.88% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 18,941 shares of company stock valued at $606,502. 0.87% of the stock is owned by corporate insiders.

Atlantic Union Bankshares Stock Performance

Shares of AUB stock opened at $33.99 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market capitalization of $4.84 billion, a price-to-earnings ratio of 14.84 and a beta of 0.87. Atlantic Union Bankshares Co. has a one year low of $22.85 and a one year high of $44.54. The company’s 50-day simple moving average is $35.12 and its 200-day simple moving average is $31.82.

Atlantic Union Bankshares (NASDAQ:AUB) last announced its quarterly earnings data on Thursday, July 24th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.15. The firm had revenue of $377.22 million during the quarter, compared to analyst estimates of $369.70 million. Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%.Atlantic Union Bankshares’s quarterly revenue was up 92.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.63 earnings per share. Equities analysts anticipate that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current fiscal year.

Analyst Ratings Changes

AUB has been the subject of several recent research reports. Piper Sandler dropped their price objective on shares of Atlantic Union Bankshares from $46.00 to $45.00 and set an “overweight” rating for the company in a research report on Friday, July 25th. Raymond James Financial reissued a “strong-buy” rating and issued a $43.00 price objective (up previously from $42.00) on shares of Atlantic Union Bankshares in a research report on Friday, October 3rd. Keefe, Bruyette & Woods increased their price objective on shares of Atlantic Union Bankshares from $33.00 to $34.00 and gave the stock a “market perform” rating in a research report on Monday, August 4th. Morgan Stanley increased their price objective on shares of Atlantic Union Bankshares from $35.00 to $41.00 and gave the stock an “underperform” rating in a research report on Monday, September 29th. Finally, Janney Montgomery Scott assumed coverage on shares of Atlantic Union Bankshares in a report on Wednesday, October 8th. They set a “buy” rating and a $42.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $41.56.

Atlantic Union Bankshares Company 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.