Royal Bank of Canada Has $6.59 Million Stock Position in Atlantic Union Bankshares Co. $AUB

Royal Bank of Canada lowered its holdings in shares of Atlantic Union Bankshares Co. (NYSE:AUB) by 8.3% in the first quarter, HoldingsChannel reports. The firm owned 184,404 shares of the company’s stock after selling 16,593 shares during the period. Royal Bank of Canada’s holdings in Atlantic Union Bankshares were worth $6,590,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. UBS Group AG lifted its position in shares of Atlantic Union Bankshares by 10.9% in the fourth quarter. UBS Group AG now owns 475,259 shares of the company’s stock valued at $16,777,000 after buying an additional 46,867 shares during the last quarter. Hsbc Holdings PLC increased its holdings in shares of Atlantic Union Bankshares by 1,292.0% during the 4th quarter. Hsbc Holdings PLC now owns 106,335 shares of the company’s stock worth $3,752,000 after acquiring an additional 98,696 shares during the last quarter. AlphaCore Capital LLC bought a new stake in Atlantic Union Bankshares in the 4th quarter valued at $1,941,000. William Blair Investment Management LLC lifted its holdings in Atlantic Union Bankshares by 8.8% during the 4th quarter. William Blair Investment Management LLC now owns 1,111,244 shares of the company’s stock valued at $39,227,000 after purchasing an additional 89,794 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in Atlantic Union Bankshares by 40.1% during the 1st quarter. Principal Financial Group Inc. now owns 951,373 shares of the company’s stock valued at $34,002,000 after purchasing an additional 272,119 shares during the last quarter. Institutional investors and hedge funds own 78.58% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Morgan Stanley upped 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. Weiss Ratings assumed coverage on shares of Atlantic Union Bankshares in a research note on Monday, July 6th. They set a “buy (b-)” rating for the company. TD Cowen lifted their target price on shares of Atlantic Union Bankshares from $46.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Stephens reiterated an “overweight” rating and issued a $46.00 price target on shares of Atlantic Union Bankshares in a research note on Thursday, June 11th. Finally, Piper Sandler reissued an “overweight” rating and issued a $47.00 price target on shares of Atlantic Union Bankshares in a report on Wednesday, July 22nd. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Atlantic Union Bankshares presently has an average rating of “Moderate Buy” and a consensus price target of $45.57.

Atlantic Union Bankshares Stock Performance

AUB opened at $42.18 on Wednesday. The business has a fifty day simple moving average of $41.22 and a 200 day simple moving average of $38.90. The company has a market capitalization of $6.02 billion, a PE ratio of 12.59 and a beta of 0.79. Atlantic Union Bankshares Co. has a 1 year low of $30.87 and a 1 year high of $43.62. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.93 and a quick ratio of 0.93.

Atlantic Union Bankshares (NYSE:AUB) last posted its quarterly earnings data on Tuesday, July 21st. The company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.02. Atlantic Union Bankshares had a return on equity of 10.55% and a net margin of 21.97%.The firm had revenue of $387.57 million for the quarter, compared to analysts’ expectations of $389.06 million. During the same quarter last year, the business earned $0.95 EPS. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. Research analysts expect that Atlantic Union Bankshares Co. will post 3.76 EPS for the current year.

Atlantic Union Bankshares Announces Dividend

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

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.