Intech Investment Management LLC Sells 30,364 Shares of Atlantic Union Bankshares Co. $AUB

Intech Investment Management LLC decreased its holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 37.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,769 shares of the company’s stock after selling 30,364 shares during the period. Intech Investment Management LLC’s holdings in Atlantic Union Bankshares were worth $1,756,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in AUB. US Bancorp DE raised its stake in Atlantic Union Bankshares by 26.7% during the 3rd quarter. US Bancorp DE now owns 27,841 shares of the company’s stock valued at $983,000 after purchasing an additional 5,860 shares during the period. MAI Capital Management raised its position in shares of Atlantic Union Bankshares by 521.5% during the third quarter. MAI Capital Management now owns 36,758 shares of the company’s stock valued at $1,297,000 after buying an additional 30,844 shares during the last quarter. Cary Street Partners Financial LLC lifted its holdings in shares of Atlantic Union Bankshares by 8.0% in the third quarter. Cary Street Partners Financial LLC now owns 59,992 shares of the company’s stock worth $2,117,000 after buying an additional 4,436 shares in the last quarter. Parkside Investments LLC bought a new position in shares of Atlantic Union Bankshares during the third quarter worth $220,000. Finally, Dana Investment Advisors Inc. boosted its position in shares of Atlantic Union Bankshares by 5.8% during the third quarter. Dana Investment Advisors Inc. now owns 56,045 shares of the company’s stock worth $1,978,000 after acquiring an additional 3,083 shares during the last quarter. Hedge funds and other institutional investors own 78.58% of the company’s stock.

Atlantic Union Bankshares Trading Down 1.9%

Shares of AUB stock opened at $36.62 on Friday. The company has a market cap of $5.22 billion, a PE ratio of 15.99 and a beta of 0.82. Atlantic Union Bankshares Co. has a 1 year low of $22.85 and a 1 year high of $42.18. The stock’s 50 day simple moving average is $38.55 and its two-hundred day simple moving average is $36.00. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.91 and a quick ratio of 0.91.

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

Atlantic Union Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were paid a $0.37 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $1.48 annualized dividend and a dividend yield of 4.0%. Atlantic Union Bankshares’s dividend payout ratio is currently 72.55%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Morgan Stanley lifted their price target on shares of Atlantic Union Bankshares from $44.00 to $47.00 and gave the company an “equal weight” rating in a report on Monday. Raymond James Financial set a $45.00 target price on Atlantic Union Bankshares in a report on Thursday, December 11th. Piper Sandler increased their price target on Atlantic Union Bankshares from $41.50 to $47.50 and gave the company an “overweight” rating in a research note on Thursday, February 5th. Zacks Research upgraded Atlantic Union Bankshares from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 5th. Finally, Stephens upped their price objective on Atlantic Union Bankshares from $43.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $42.85.

About Atlantic Union Bankshares

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.