Verdence Capital Advisors LLC Purchases Shares of 8,860 Atlantic Union Bankshares Co. $AUB

Verdence Capital Advisors LLC acquired a new stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 8,860 shares of the company’s stock, valued at approximately $277,000.

Other large investors have also recently modified their holdings of the company. Xponance Inc. lifted its stake in Atlantic Union Bankshares by 5.8% in the first quarter. Xponance Inc. now owns 6,798 shares of the company’s stock worth $212,000 after purchasing an additional 374 shares during the last quarter. Corebridge Financial Inc. lifted its stake in shares of Atlantic Union Bankshares by 0.8% in the 1st quarter. Corebridge Financial Inc. now owns 48,026 shares of the company’s stock valued at $1,496,000 after acquiring an additional 396 shares during the last quarter. CWM LLC lifted its stake in shares of Atlantic Union Bankshares by 99.4% in the 1st quarter. CWM LLC now owns 1,049 shares of the company’s stock valued at $33,000 after acquiring an additional 523 shares during the last quarter. OneDigital Investment Advisors LLC lifted its stake in shares of Atlantic Union Bankshares by 8.7% in the 1st quarter. OneDigital Investment Advisors LLC now owns 6,619 shares of the company’s stock valued at $206,000 after acquiring an additional 527 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its stake in shares of Atlantic Union Bankshares by 1.9% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 30,755 shares of the company’s stock valued at $958,000 after acquiring an additional 575 shares during the last quarter. Institutional investors own 78.58% of the company’s stock.

Insider Activity

In other Atlantic Union Bankshares news, Director Frank Russell Ellett purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 7th. The stock was bought at an average cost of $31.54 per share, for a total transaction of $157,700.00. Following the purchase, the director directly owned 76,606 shares in the company, valued at $2,416,153.24. The trade was a 6.98% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John C. Asbury bought 7,500 shares of the firm’s stock in a transaction on Monday, July 28th. The shares were acquired at an average cost of $32.91 per share, with a total value of $246,825.00. Following the purchase, the chief executive officer directly owned 270,532 shares of the company’s stock, valued at approximately $8,903,208.12. This represents a 2.85% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 18,941 shares of company stock valued at $606,502. 0.87% of the stock is owned by company insiders.

Atlantic Union Bankshares Price Performance

AUB stock opened at $32.86 on Friday. Atlantic Union Bankshares Co. has a 1 year low of $22.85 and a 1 year high of $44.54. The company has a market cap of $4.68 billion, a P/E ratio of 14.35 and a beta of 0.87. The firm has a 50-day moving average of $35.03 and a 200 day moving average of $31.67. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.91 and a quick ratio of 0.91.

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 the consensus estimate of $0.80 by $0.15. Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%.The firm had revenue of $377.22 million during the quarter, compared to analyst estimates of $369.70 million. During the same quarter in the prior year, the company earned $0.63 EPS. The business’s revenue was up 92.0% compared to the same quarter last year. On average, sell-side analysts forecast that Atlantic Union Bankshares Co. will post 3.26 EPS for the current year.

Atlantic Union Bankshares Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. TD Cowen started coverage on Atlantic Union Bankshares in a research report on Thursday, September 25th. They issued a “buy” rating and a $46.00 price objective for the company. Morgan Stanley upped their price target on shares of Atlantic Union Bankshares from $35.00 to $41.00 and gave the company an “underperform” rating in a report on Monday, September 29th. Piper Sandler lowered 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 note on Friday, July 25th. Cowen started coverage on shares of Atlantic Union Bankshares in a research note on Wednesday, September 24th. They set a “buy” rating for the company. Finally, Janney Montgomery Scott started coverage on Atlantic Union Bankshares in a research report on Wednesday, October 8th. They set a “buy” rating and a $42.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.56.

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.