Benson Investment Management Company Inc. Makes New $3.36 Million Investment in Atlantic Union Bankshares Co. $AUB

Benson Investment Management Company Inc. purchased a new position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) during the second quarter, Holdings Channel reports. The firm purchased 107,310 shares of the company’s stock, valued at approximately $3,357,000.

A number of other hedge funds also recently bought and sold shares of the business. Grace & White Inc. NY purchased a new position in Atlantic Union Bankshares during the second quarter worth approximately $1,637,000. Blue Trust Inc. raised its holdings in shares of Atlantic Union Bankshares by 1,001.0% during the second quarter. Blue Trust Inc. now owns 13,102 shares of the company’s stock valued at $410,000 after acquiring an additional 11,912 shares during the last quarter. Court Place Advisors LLC acquired a new position in shares of Atlantic Union Bankshares during the second quarter valued at approximately $275,000. US Bancorp DE raised its holdings in shares of Atlantic Union Bankshares by 58.0% during the second quarter. US Bancorp DE now owns 21,981 shares of the company’s stock valued at $688,000 after acquiring an additional 8,067 shares during the last quarter. Finally, Maryland State Retirement & Pension System raised its holdings in shares of Atlantic Union Bankshares by 10.0% during the second quarter. Maryland State Retirement & Pension System now owns 41,869 shares of the company’s stock valued at $1,310,000 after acquiring an additional 3,818 shares during the last quarter. Hedge funds and other institutional investors own 78.58% of the company’s stock.

Atlantic Union Bankshares Price Performance

NASDAQ:AUB opened at $33.51 on Friday. Atlantic Union Bankshares Co. has a one year low of $22.85 and a one year high of $44.54. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market cap of $4.78 billion, a PE ratio of 14.63 and a beta of 0.87. The stock has a 50 day moving average price of $34.78 and a 200 day moving average price of $31.58.

Atlantic Union Bankshares (NASDAQ:AUB) last posted its quarterly earnings results on Thursday, July 24th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.80 by $0.15. The firm had revenue of $377.22 million during the quarter, compared to analysts’ expectations of $369.70 million. Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%.The business’s revenue for the quarter was up 92.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.63 earnings per share. Equities research analysts expect that Atlantic Union Bankshares Co. will post 3.26 EPS for the current fiscal year.

Atlantic Union Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 4th were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Monday, August 4th. This represents a $1.36 annualized dividend and a yield of 4.1%. Atlantic Union Bankshares’s dividend payout ratio (DPR) is 66.02%.

Analyst Ratings Changes

A number of brokerages have commented on AUB. Piper Sandler reduced their target price on Atlantic Union Bankshares from $46.00 to $45.00 and set an “overweight” rating for the company in a report on Friday, July 25th. Janney Montgomery Scott began coverage on Atlantic Union Bankshares in a report on Wednesday. They set a “buy” rating and a $42.00 target price for the company. Keefe, Bruyette & Woods increased their target price on Atlantic Union Bankshares from $33.00 to $34.00 and gave the company a “market perform” rating in a report on Monday, August 4th. National Bankshares set a $46.00 target price on Atlantic Union Bankshares in a report on Wednesday, September 24th. Finally, TD Cowen initiated coverage on Atlantic Union Bankshares in a report on Thursday, September 25th. They set a “buy” rating and a $46.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.56.

Insider Buying and Selling at Atlantic Union Bankshares

In other Atlantic Union Bankshares news, CEO John C. Asbury bought 7,500 shares of the business’s stock in a transaction on Monday, July 28th. The stock was bought at an average price of $32.91 per share, with a total value of $246,825.00. Following the completion of the purchase, the chief executive officer directly owned 270,532 shares in the company, valued at $8,903,208.12. The trade was a 2.85% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Frank Russell Ellett bought 1,441 shares of the business’s stock in a transaction on Friday, August 8th. The shares were acquired at an average cost of $31.49 per share, with a total value of $45,377.09. Following the purchase, the director owned 78,047 shares of the company’s stock, valued at $2,457,700.03. The trade was a 1.88% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 18,941 shares of company stock valued at $606,502. 0.87% of the stock is owned by insiders.

Atlantic Union Bankshares Company Profile

Atlantic Union Bankshares Corporation operates as the bank holding company for Atlantic Union Bank that provides banking and related financial products and services to consumers and businesses in the United States. It operates in two segments, Wholesale Banking and Consumer Banking. The company accepts various deposit products, including checking, savings, time deposit, and money market accounts; certificates of deposit; and other depository services.