Vanguard Group Inc. Cuts Position in Atlantic Union Bankshares Co. $AUB

Vanguard Group Inc. decreased its position in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 0.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,161,484 shares of the company’s stock after selling 75,887 shares during the quarter. Vanguard Group Inc. owned 11.34% of Atlantic Union Bankshares worth $570,339,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Westside Investment Management Inc. raised its holdings in shares of Atlantic Union Bankshares by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 780 shares of the company’s stock valued at $27,000 after purchasing an additional 390 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in Atlantic Union Bankshares by 309.5% in the third quarter. Farther Finance Advisors LLC now owns 864 shares of the company’s stock valued at $30,000 after buying an additional 653 shares during the last quarter. Huntington National Bank raised its stake in Atlantic Union Bankshares by 71.7% in the second quarter. Huntington National Bank now owns 1,298 shares of the company’s stock valued at $41,000 after buying an additional 542 shares in the last quarter. Abich Financial Wealth Management LLC purchased a new stake in Atlantic Union Bankshares during the 3rd quarter worth about $50,000. Finally, Nomura Asset Management Co. Ltd. boosted its position in shares of Atlantic Union Bankshares by 64.8% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 1,533 shares of the company’s stock worth $48,000 after acquiring an additional 603 shares in the last quarter. Institutional investors and hedge funds own 78.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AUB. Zacks Research raised Atlantic Union Bankshares from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 5th. Stephens increased their price target on shares of Atlantic Union Bankshares from $43.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday, January 26th. Raymond James Financial set a $45.00 price objective on shares of Atlantic Union Bankshares in a report on Thursday, December 11th. Morgan Stanley increased their target price on shares of Atlantic Union Bankshares from $41.00 to $44.00 and gave the company an “equal weight” rating in a research report on Thursday, December 11th. Finally, TD Cowen reiterated a “buy” rating on shares of Atlantic Union Bankshares in a research note on Thursday, December 11th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $42.55.

Atlantic Union Bankshares Stock Performance

Shares of AUB opened at $38.45 on Wednesday. The company’s 50 day simple moving average is $38.37 and its 200-day simple moving average is $35.82. Atlantic Union Bankshares Co. has a 12-month low of $22.85 and a 12-month high of $42.18. The firm has a market cap of $5.48 billion, a PE ratio of 16.79 and a beta of 0.83. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.13.

Atlantic Union Bankshares (NASDAQ:AUB) last issued its quarterly earnings data on Thursday, January 22nd. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.11. Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.50%. The company had revenue of $391.33 million for the quarter, compared to the consensus estimate of $378.95 million. During the same period last year, the firm posted $0.67 EPS. As a group, equities analysts predict that Atlantic Union Bankshares Co. will post 3.26 EPS for the current year.

Atlantic Union Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, February 13th. This represents a $1.48 annualized dividend and a yield of 3.8%. Atlantic Union Bankshares’s dividend payout ratio is currently 72.55%.

Atlantic Union Bankshares Profile

Atlantic Union Bankshares, Inc is a bank holding company headquartered in Richmond, Virginia, operating through its principal subsidiary Atlantic Union Bank. The company offers a full suite of commercial and consumer banking services to individuals, businesses and institutions across Virginia, Maryland, North Carolina and the District of Columbia. Leveraging a network of full-service branches, commercial lending offices and digital platforms, Atlantic Union Bankshares focuses on relationship-driven solutions tailored to its regional client base.

Atlantic Union’s product lineup includes traditional deposit accounts, such as checking, savings and money market accounts, along with certificates of deposit.