Emerald Mutual Fund Advisers Trust Increases Stock Holdings in Atlantic Union Bankshares Co. $AUB

Emerald Mutual Fund Advisers Trust lifted its stake in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 137.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 12,574 shares of the company’s stock after purchasing an additional 7,279 shares during the quarter. Emerald Mutual Fund Advisers Trust’s holdings in Atlantic Union Bankshares were worth $393,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp boosted its stake in Atlantic Union Bankshares by 8.8% during the first quarter. Bank of New York Mellon Corp now owns 1,171,836 shares of the company’s stock worth $36,491,000 after buying an additional 94,883 shares during the period. OneDigital Investment Advisors LLC boosted its stake in shares of Atlantic Union Bankshares by 8.7% during the 1st quarter. OneDigital Investment Advisors LLC now owns 6,619 shares of the company’s stock worth $206,000 after purchasing an additional 527 shares during the period. Amalgamated Bank boosted its stake in shares of Atlantic Union Bankshares by 30.7% during the 1st quarter. Amalgamated Bank now owns 34,400 shares of the company’s stock worth $1,071,000 after purchasing an additional 8,073 shares during the period. New York State Teachers Retirement System boosted its stake in shares of Atlantic Union Bankshares by 38.3% during the 1st quarter. New York State Teachers Retirement System now owns 29,460 shares of the company’s stock worth $917,000 after purchasing an additional 8,160 shares during the period. Finally, Entropy Technologies LP boosted its position in shares of Atlantic Union Bankshares by 156.6% during the first quarter. Entropy Technologies LP now owns 14,879 shares of the company’s stock valued at $463,000 after buying an additional 9,080 shares during the period. Hedge funds and other institutional investors own 78.58% of the company’s stock.

Atlantic Union Bankshares Price Performance

Shares of AUB stock opened at $32.43 on Friday. Atlantic Union Bankshares Co. has a twelve month low of $22.85 and a twelve month high of $44.54. The stock has a fifty day simple moving average of $35.07 and a two-hundred day simple moving average of $32.22. The stock has a market capitalization of $4.62 billion, a price-to-earnings ratio of 14.16 and a beta of 0.87. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.13.

Atlantic Union Bankshares (NASDAQ:AUB) last released its quarterly earnings data on Thursday, October 23rd. The company reported $0.84 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.02). Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%.The business had revenue of $319.21 million during the quarter, compared to analysts’ expectations of $377.92 million. During the same period last year, the company earned $0.83 earnings per share. The firm’s revenue was up 69.8% compared to the same quarter last year. On average, analysts predict that Atlantic Union Bankshares Co. will post 3.26 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on AUB shares. Cowen restated a “buy” rating on shares of Atlantic Union Bankshares in a research report on Monday. Morgan Stanley boosted their price objective on Atlantic Union Bankshares from $35.00 to $41.00 and gave the company an “underperform” rating in a report on Monday, September 29th. TD Cowen dropped their price objective on Atlantic Union Bankshares from $46.00 to $44.00 and set a “buy” rating for the company in a report on Monday. Piper Sandler lowered their target price on shares of Atlantic Union Bankshares from $45.00 to $41.50 and set an “overweight” rating for the company in a research note on Friday, October 24th. Finally, Raymond James Financial reissued a “strong-buy” rating on shares of Atlantic Union Bankshares in a research note on Friday, October 24th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $40.61.

Insider Buying and Selling at Atlantic Union Bankshares

In related news, Director Frank Russell Ellett bought 1,441 shares of the stock in a transaction on Friday, August 8th. The stock was bought at an average price of $31.49 per share, for a total transaction of $45,377.09. Following the completion of the acquisition, the director directly owned 78,047 shares in the company, valued at approximately $2,457,700.03. This represents a 1.88% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders have purchased 11,441 shares of company stock valued at $359,677. 1.16% of the stock is currently owned by corporate insiders.

About Atlantic Union Bankshares

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.