Kingsview Wealth Management LLC Purchases Shares of 12,997 Atlantic Union Bankshares Co. $AUB

Kingsview Wealth Management LLC purchased a new position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 12,997 shares of the company’s stock, valued at approximately $407,000.

Several other hedge funds also recently modified their holdings of AUB. Vanguard Group Inc. increased its position in shares of Atlantic Union Bankshares by 8.9% in the first quarter. Vanguard Group Inc. now owns 11,932,493 shares of the company’s stock valued at $371,578,000 after acquiring an additional 978,793 shares during the last quarter. Geode Capital Management LLC grew its stake in Atlantic Union Bankshares by 59.2% in the second quarter. Geode Capital Management LLC now owns 3,375,225 shares of the company’s stock valued at $105,589,000 after purchasing an additional 1,255,064 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Atlantic Union Bankshares by 6.3% during the 1st quarter. Ameriprise Financial Inc. now owns 2,751,341 shares of the company’s stock worth $85,676,000 after purchasing an additional 163,451 shares during the last quarter. Westwood Holdings Group Inc. raised its stake in shares of Atlantic Union Bankshares by 10.4% during the 2nd quarter. Westwood Holdings Group Inc. now owns 2,376,734 shares of the company’s stock worth $74,344,000 after purchasing an additional 224,267 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Atlantic Union Bankshares by 36.0% during the 1st 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 in the last quarter. Institutional investors own 78.58% of the company’s stock.

Atlantic Union Bankshares Stock Up 3.8%

Shares of AUB opened at $32.88 on Friday. The firm has a market cap of $4.69 billion, a P/E ratio of 14.36 and a beta of 0.93. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.91 and a current ratio of 0.91. Atlantic Union Bankshares Co. has a 52 week low of $22.85 and a 52 week high of $44.54. The firm’s 50-day simple moving average is $34.09 and its 200 day simple moving average is $32.89.

Atlantic Union Bankshares (NASDAQ:AUB) last issued its quarterly earnings data on Thursday, October 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.02). The firm had revenue of $319.21 million for the quarter, compared to the consensus estimate 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 was up 69.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.83 EPS. On average, analysts forecast that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current year.

Atlantic Union Bankshares Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be given a dividend of $0.37 per share. This is a positive change from Atlantic Union Bankshares’s previous quarterly dividend of $0.34. This represents a $1.48 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend is Friday, November 14th. Atlantic Union Bankshares’s payout ratio is 79.14%.

Analyst Ratings Changes

AUB has been the topic of a number of recent analyst reports. National Bankshares set a $46.00 target price on shares of Atlantic Union Bankshares in a report on Wednesday, September 24th. Cowen reissued a “buy” rating on shares of Atlantic Union Bankshares in a research report on Monday, October 27th. TD Cowen dropped their target price on shares of Atlantic Union Bankshares from $46.00 to $44.00 and set a “buy” rating on the stock in a report on Monday, October 27th. Janney Montgomery Scott began coverage on Atlantic Union Bankshares in a report on Wednesday, October 8th. They set a “buy” rating and a $42.00 price target for the company. Finally, Piper Sandler lowered their price target on Atlantic Union Bankshares from $45.00 to $41.50 and set an “overweight” rating on the stock in a research report on Friday, October 24th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $40.61.

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.