Atlantic Union Bankshares Co. $AUB Shares Acquired by Blue Trust Inc.

Blue Trust Inc. boosted its stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 1,001.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,102 shares of the company’s stock after acquiring an additional 11,912 shares during the quarter. Blue Trust Inc.’s holdings in Atlantic Union Bankshares were worth $410,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of Atlantic Union Bankshares by 8.9% during the first quarter. Vanguard Group Inc. now owns 11,932,493 shares of the company’s stock worth $371,578,000 after purchasing an additional 978,793 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Atlantic Union Bankshares by 6.3% in the 1st quarter. Ameriprise Financial Inc. now owns 2,751,341 shares of the company’s stock worth $85,676,000 after acquiring an additional 163,451 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Atlantic Union Bankshares by 36.0% in 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 period. Victory Capital Management Inc. lifted its position in Atlantic Union Bankshares by 4.0% in the first quarter. Victory Capital Management Inc. now owns 1,644,177 shares of the company’s stock valued at $51,200,000 after purchasing an additional 63,650 shares during the period. Finally, Northern Trust Corp lifted its position in Atlantic Union Bankshares by 35.5% in the first quarter. Northern Trust Corp now owns 1,573,946 shares of the company’s stock valued at $49,013,000 after purchasing an additional 412,730 shares during the period. 78.58% of the stock is owned by institutional investors and hedge funds.

Atlantic Union Bankshares Trading Up 3.1%

NASDAQ:AUB opened at $34.60 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $4.93 billion, a PE ratio of 15.11 and a beta of 0.87. The stock has a fifty day simple moving average of $34.84 and a 200-day simple moving average of $31.60. Atlantic Union Bankshares Co. has a 52-week low of $22.85 and a 52-week high of $44.54.

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

Atlantic Union Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 4th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Monday, August 4th. Atlantic Union Bankshares’s payout ratio is currently 66.02%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on AUB shares. Piper Sandler reduced their price objective on shares of Atlantic Union Bankshares from $46.00 to $45.00 and set an “overweight” rating for the company in a research report on Friday, July 25th. Raymond James Financial reissued a “strong-buy” rating and issued a $43.00 price target (up from $42.00) on shares of Atlantic Union Bankshares in a report on Friday, October 3rd. National Bankshares set a $46.00 target price on Atlantic Union Bankshares in a report on Wednesday, September 24th. Janney Montgomery Scott started coverage on Atlantic Union Bankshares in a report on Wednesday, October 8th. They issued a “buy” rating and a $42.00 target price for the company. Finally, Cowen started coverage on shares of Atlantic Union Bankshares in a research note on Wednesday, September 24th. They issued a “buy” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Atlantic Union Bankshares presently has an average rating of “Moderate Buy” and an average price target of $41.56.

Insiders Place Their Bets

In related news, CEO John C. Asbury purchased 7,500 shares of the business’s stock in a transaction dated Monday, July 28th. The stock was bought at an average cost of $32.91 per share, with a total value of $246,825.00. Following the completion of the acquisition, 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 position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frank Russell Ellett purchased 5,000 shares of the business’s stock in a transaction dated Thursday, August 7th. The stock was bought at an average cost of $31.54 per share, with a total value of $157,700.00. Following the completion of the acquisition, the director owned 76,606 shares of the company’s stock, valued at approximately $2,416,153.24. The trade was a 6.98% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders bought 18,941 shares of company stock valued at $606,502. Insiders own 0.87% of the company’s stock.

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.