SG Americas Securities LLC Sells 1,526,731 Shares of Atlantic Union Bankshares Co. $AUB

SG Americas Securities LLC decreased its position in Atlantic Union Bankshares Co. (NYSE:AUB) by 99.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 5,742 shares of the company’s stock after selling 1,526,731 shares during the quarter. SG Americas Securities LLC’s holdings in Atlantic Union Bankshares were worth $205,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp grew its stake in Atlantic Union Bankshares by 24.5% during the second quarter. State Street Corp now owns 7,400,456 shares of the company’s stock worth $231,486,000 after buying an additional 1,457,647 shares during the last quarter. North Reef Capital Management LP boosted its holdings in shares of Atlantic Union Bankshares by 23.1% in the 4th quarter. North Reef Capital Management LP now owns 4,572,090 shares of the company’s stock worth $161,395,000 after acquiring an additional 858,486 shares in the last quarter. T. Rowe Price Investment Management Inc. bought a new stake in Atlantic Union Bankshares during the 4th quarter worth approximately $87,022,000. Goldman Sachs Group Inc. grew its position in 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 acquiring an additional 565,564 shares during the last quarter. Finally, Congress Asset Management Co. raised its position in Atlantic Union Bankshares by 4.7% in the 4th quarter. Congress Asset Management Co. now owns 1,964,949 shares of the company’s stock valued at $69,363,000 after purchasing an additional 87,761 shares during the last quarter. 78.58% of the stock is owned by institutional investors.

Atlantic Union Bankshares Trading Up 1.1%

NYSE:AUB traded up $0.44 on Friday, hitting $42.00. 810,210 shares of the stock were exchanged, compared to its average volume of 1,269,127. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.92 and a current ratio of 0.92. Atlantic Union Bankshares Co. has a 52 week low of $30.39 and a 52 week high of $43.62. The stock has a market capitalization of $6.01 billion, a price-to-earnings ratio of 17.80 and a beta of 0.79. The company’s 50-day moving average price is $39.02 and its 200 day moving average price is $38.04.

Atlantic Union Bankshares (NYSE:AUB) last issued its earnings results on Tuesday, April 21st. The company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.03). The business had revenue of $371.71 million during the quarter, compared to the consensus estimate of $391.24 million. Atlantic Union Bankshares had a net margin of 15.50% and a return on equity of 10.74%. During the same period last year, the business posted $0.90 EPS. On average, equities research analysts forecast that Atlantic Union Bankshares Co. will post 3.74 earnings per share for the current year.

Atlantic Union Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Friday, May 22nd. Atlantic Union Bankshares’s dividend payout ratio (DPR) is currently 62.71%.

Analyst Ratings Changes

AUB has been the topic of several research analyst reports. Zacks Research cut Atlantic Union Bankshares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. Piper Sandler raised their price objective on shares of Atlantic Union Bankshares from $45.00 to $46.00 and gave the company an “overweight” rating in a research report on Thursday, June 11th. TD Cowen boosted their target price on shares of Atlantic Union Bankshares from $44.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Weiss Ratings began coverage on shares of Atlantic Union Bankshares in a report on Monday, July 6th. They issued a “buy (b-)” rating for the company. Finally, Morgan Stanley boosted their price objective on shares of Atlantic Union Bankshares from $42.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $43.62.

Insider Activity

In related news, Director Nancy H. Agee acquired 650 shares of the company’s stock in a transaction that occurred on Monday, April 20th. The stock was acquired at an average price of $39.05 per share, for a total transaction of $25,382.50. Following the completion of the acquisition, the director owned 37,797 shares of the company’s stock, valued at $1,475,972.85. This trade represents a 1.75% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.96% of the stock is owned by corporate insiders.

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.