Royal Bank of Canada Sells 16,593 Shares of Atlantic Union Bankshares Co. $AUB

Royal Bank of Canada cut its stake in Atlantic Union Bankshares Co. (NYSE:AUBFree Report) by 8.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 184,404 shares of the company’s stock after selling 16,593 shares during the period. Royal Bank of Canada owned approximately 0.13% of Atlantic Union Bankshares worth $6,590,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of AUB. UBS Group AG boosted its position in shares of Atlantic Union Bankshares by 10.9% during the fourth quarter. UBS Group AG now owns 475,259 shares of the company’s stock worth $16,777,000 after buying an additional 46,867 shares during the period. Hsbc Holdings PLC raised its position in Atlantic Union Bankshares by 1,292.0% in the 4th quarter. Hsbc Holdings PLC now owns 106,335 shares of the company’s stock valued at $3,752,000 after buying an additional 98,696 shares during the last quarter. AlphaCore Capital LLC bought a new stake in Atlantic Union Bankshares in the 4th quarter valued at approximately $1,941,000. William Blair Investment Management LLC lifted its stake in Atlantic Union Bankshares by 8.8% in the 4th quarter. William Blair Investment Management LLC now owns 1,111,244 shares of the company’s stock valued at $39,227,000 after acquiring an additional 89,794 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Atlantic Union Bankshares by 40.1% in the 1st quarter. Principal Financial Group Inc. now owns 951,373 shares of the company’s stock valued at $34,002,000 after acquiring an additional 272,119 shares in the last quarter. Institutional investors and hedge funds own 78.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on AUB shares. Stephens reaffirmed an “overweight” rating and set a $46.00 price target on shares of Atlantic Union Bankshares in a research note on Thursday, June 11th. Weiss Ratings started coverage on shares of Atlantic Union Bankshares in a report on Monday, July 6th. They set a “buy (b-)” rating for the company. Piper Sandler reaffirmed an “overweight” rating and issued a $47.00 target price on shares of Atlantic Union Bankshares in a research report on Wednesday, July 22nd. TD Cowen lifted their price target on shares of Atlantic Union Bankshares from $46.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Finally, Morgan Stanley boosted their price target on shares of Atlantic Union Bankshares from $42.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $45.57.

Get Our Latest Stock Report on AUB

Atlantic Union Bankshares Stock Up 1.3%

NYSE:AUB opened at $42.18 on Wednesday. The firm has a market capitalization of $6.02 billion, a price-to-earnings ratio of 12.59 and a beta of 0.79. Atlantic Union Bankshares Co. has a twelve month low of $30.87 and a twelve month high of $43.62. The stock’s 50 day moving average price is $41.22 and its two-hundred day moving average price is $38.90. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.15.

Atlantic Union Bankshares (NYSE:AUBGet Free Report) last released its quarterly earnings data on Tuesday, July 21st. The company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.92 by $0.02. Atlantic Union Bankshares had a return on equity of 10.55% and a net margin of 21.97%.The company had revenue of $387.57 million during the quarter, compared to the consensus estimate of $389.06 million. During the same quarter in the prior year, the firm posted $0.95 EPS. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. Equities research analysts expect that Atlantic Union Bankshares Co. will post 3.76 earnings per share for the current fiscal year.

Atlantic Union Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Friday, August 7th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Friday, August 7th. Atlantic Union Bankshares’s dividend payout ratio is 44.18%.

Atlantic Union Bankshares Company Profile

(Free Report)

Atlantic Union Bankshares, Inc is a bank holding company headquartered in Richmond, Virginia, operating through its principal subsidiary Atlantic Union Bank. The company offers a full suite of commercial and consumer banking services to individuals, businesses and institutions across Virginia, Maryland, North Carolina and the District of Columbia. Leveraging a network of full-service branches, commercial lending offices and digital platforms, Atlantic Union Bankshares focuses on relationship-driven solutions tailored to its regional client base.

Atlantic Union’s product lineup includes traditional deposit accounts, such as checking, savings and money market accounts, along with certificates of deposit.

Further Reading

Institutional Ownership by Quarter for Atlantic Union Bankshares (NYSE:AUB)

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