Atlantic Union Bankshares Co. $AUB Shares Sold by London Co. of Virginia

London Co. of Virginia cut its position in shares of Atlantic Union Bankshares Co. (NYSE:AUB) by 3.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 820,010 shares of the company’s stock after selling 27,396 shares during the period. London Co. of Virginia owned approximately 0.57% of Atlantic Union Bankshares worth $29,307,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of AUB. AQR Capital Management LLC increased its holdings in shares of Atlantic Union Bankshares by 634.3% during the 1st quarter. AQR Capital Management LLC now owns 41,902 shares of the company’s stock worth $1,305,000 after buying an additional 36,196 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Atlantic Union Bankshares by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 53,232 shares of the company’s stock worth $1,658,000 after acquiring an additional 2,322 shares during the period. Goldman Sachs Group Inc. increased 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 acquiring an additional 565,564 shares during the last quarter. Empowered Funds LLC acquired a new stake in Atlantic Union Bankshares during the first quarter worth $3,011,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Atlantic Union Bankshares by 9.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 249,378 shares of the company’s stock valued at $7,766,000 after purchasing an additional 22,078 shares during the period. 78.58% of the stock is currently owned by institutional investors and hedge funds.

Atlantic Union Bankshares Price Performance

AUB stock opened at $42.18 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $6.04 billion, a PE ratio of 12.59 and a beta of 0.79. Atlantic Union Bankshares Co. has a 12-month low of $30.39 and a 12-month high of $43.62. The business’s fifty day moving average price is $40.02 and its 200 day moving average price is $38.48.

Atlantic Union Bankshares (NYSE:AUB) last released its earnings results on Tuesday, July 21st. The company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.02. The company had revenue of $387.57 million during the quarter, compared to the consensus estimate of $389.06 million. Atlantic Union Bankshares had a return on equity of 10.55% and a net margin of 21.97%.Atlantic Union Bankshares’s revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.95 EPS. On average, sell-side analysts anticipate that Atlantic Union Bankshares Co. will post 3.76 EPS for the current year.

Atlantic Union Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Friday, August 7th will be issued a $0.37 dividend. The ex-dividend date is Friday, August 7th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.5%. Atlantic Union Bankshares’s payout ratio is 44.18%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. TD Cowen increased their price target on Atlantic Union Bankshares from $46.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday. Morgan Stanley boosted their price objective on shares of Atlantic Union Bankshares from $42.00 to $45.00 and gave the company an “equal weight” rating in a report on Monday, June 29th. Piper Sandler reiterated an “overweight” rating and set a $47.00 price target on shares of Atlantic Union Bankshares in a research report on Wednesday. Zacks Research downgraded shares of Atlantic Union Bankshares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 31st. Finally, Stephens restated an “overweight” rating and issued a $46.00 price objective on shares of Atlantic Union Bankshares in a report on Thursday, June 11th. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $44.12.

Atlantic Union Bankshares Company 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.