Atlantic Union Bankshares Co. $AUB Shares Sold by Intrust Bank NA

Intrust Bank NA trimmed its holdings in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 47.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,738 shares of the company’s stock after selling 8,939 shares during the period. Intrust Bank NA’s holdings in Atlantic Union Bankshares were worth $305,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings 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 acquiring an additional 978,793 shares during the period. Geode Capital Management LLC grew its stake in shares of Atlantic Union Bankshares by 59.2% during the 2nd quarter. Geode Capital Management LLC now owns 3,375,225 shares of the company’s stock worth $105,589,000 after purchasing an additional 1,255,064 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of Atlantic Union Bankshares by 6.3% in the 1st quarter. Ameriprise Financial Inc. now owns 2,751,341 shares of the company’s stock valued at $85,676,000 after purchasing an additional 163,451 shares in the last quarter. Westwood Holdings Group Inc. lifted its stake in shares of Atlantic Union Bankshares by 10.4% in the second quarter. Westwood Holdings Group Inc. now owns 2,376,734 shares of the company’s stock valued at $74,344,000 after purchasing an additional 224,267 shares during the period. Finally, Goldman Sachs Group Inc. grew its position 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 buying an additional 565,564 shares during the period. 78.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on AUB. TD Cowen decreased their price target on Atlantic Union Bankshares from $46.00 to $44.00 and set a “buy” rating on the stock in a research note on Monday, October 27th. Piper Sandler reduced their price objective on Atlantic Union Bankshares from $45.00 to $41.50 and set an “overweight” rating for the company in a report on Friday, October 24th. Morgan Stanley upped their target price on Atlantic Union Bankshares from $35.00 to $41.00 and gave the company an “underperform” rating in a report on Monday, September 29th. Cowen reaffirmed a “buy” rating on shares of Atlantic Union Bankshares in a research note on Monday, October 27th. Finally, National Bankshares set a $46.00 price objective on shares of Atlantic Union Bankshares in a research report on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.61.

Atlantic Union Bankshares Stock Up 0.4%

Shares of NASDAQ:AUB opened at $31.42 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $4.48 billion, a P/E ratio of 13.72 and a beta of 0.94. Atlantic Union Bankshares Co. has a 52-week low of $22.85 and a 52-week high of $44.54. The stock’s fifty day simple moving average is $34.28 and its 200-day simple moving average is $32.88.

Atlantic Union Bankshares (NASDAQ:AUB) last posted its quarterly earnings data on Thursday, October 23rd. The company reported $0.84 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.02). The company had revenue of $319.21 million for the quarter, compared to analysts’ expectations of $377.92 million. Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%.The company’s revenue for the quarter was up 69.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.83 EPS. As a group, equities research analysts forecast that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current fiscal year.

Atlantic Union Bankshares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, November 14th. This is a positive change from Atlantic Union Bankshares’s previous quarterly dividend of $0.34. This represents a $1.48 annualized dividend and a dividend yield of 4.7%. Atlantic Union Bankshares’s payout ratio is currently 79.14%.

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.