ProShare Advisors LLC Has $7.01 Million Stock Position in Atlantic Union Bankshares Co. $AUB

ProShare Advisors LLC lowered its position in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 4.6% during the second quarter, HoldingsChannel.com reports. The firm owned 223,930 shares of the company’s stock after selling 10,763 shares during the quarter. ProShare Advisors LLC’s holdings in Atlantic Union Bankshares were worth $7,005,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Curio Wealth LLC acquired a new stake in shares of Atlantic Union Bankshares during the 2nd quarter valued at about $28,000. CWM LLC raised its position in Atlantic Union Bankshares by 99.4% during the first quarter. CWM LLC now owns 1,049 shares of the company’s stock valued at $33,000 after acquiring an additional 523 shares in the last quarter. Huntington National Bank lifted its stake in Atlantic Union Bankshares by 71.7% in the second quarter. Huntington National Bank now owns 1,298 shares of the company’s stock valued at $41,000 after acquiring an additional 542 shares during the last quarter. Fifth Third Bancorp grew its position in Atlantic Union Bankshares by 50.2% in the second quarter. Fifth Third Bancorp now owns 2,052 shares of the company’s stock worth $64,000 after acquiring an additional 686 shares in the last quarter. Finally, Spire Wealth Management acquired a new position in shares of Atlantic Union Bankshares during the 2nd quarter worth $79,000. 78.58% of the stock is owned by hedge funds and other institutional investors.

Atlantic Union Bankshares Stock Up 0.1%

NASDAQ:AUB opened at $32.74 on Thursday. The stock has a 50-day moving average price of $34.56 and a two-hundred day moving average price of $32.74. Atlantic Union Bankshares Co. has a 1 year low of $22.85 and a 1 year high of $44.54. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.13. The stock has a market cap of $4.67 billion, a price-to-earnings ratio of 14.30 and a beta of 0.93.

Atlantic Union Bankshares (NASDAQ:AUB) last announced its quarterly earnings results 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 net margin of 15.53% and a return on equity of 8.50%. The company had revenue of $319.21 million during the quarter, compared to the consensus estimate of $377.92 million. During the same period in the previous year, the firm posted $0.83 EPS. The business’s quarterly revenue was up 69.8% compared to the same quarter last year. As a group, equities analysts expect that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current year.

Atlantic Union Bankshares Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be paid a $0.37 dividend. This is a boost from Atlantic Union Bankshares’s previous quarterly dividend of $0.34. This represents a $1.48 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend is Friday, November 14th. Atlantic Union Bankshares’s dividend payout ratio (DPR) is 79.14%.

Analyst Ratings Changes

AUB has been the subject of several recent analyst reports. Janney Montgomery Scott initiated coverage on Atlantic Union Bankshares in a research note on Wednesday, October 8th. They set a “buy” rating and a $42.00 price target for the company. Cowen restated a “buy” rating on shares of Atlantic Union Bankshares in a research note on Monday, October 27th. TD Cowen reduced their price objective on shares of Atlantic Union Bankshares from $46.00 to $44.00 and set a “buy” rating for the company in a report on Monday, October 27th. National Bankshares set a $46.00 price target on Atlantic Union Bankshares in a research report on Wednesday, September 24th. Finally, Morgan Stanley lifted their target price on shares of Atlantic Union Bankshares from $35.00 to $41.00 and gave the company an “underperform” rating in a research note on Monday, September 29th. 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, Atlantic Union Bankshares currently has an average rating of “Moderate Buy” and an average target price of $40.61.

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.