Wills Financial Group LLC acquired a new position in Atlantic Union Bankshares Co. (NASDAQ:AUB – Free Report) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 64,640 shares of the company’s stock, valued at approximately $2,282,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. IFP Advisors Inc grew its holdings in Atlantic Union Bankshares by 362.5% in the fourth quarter. IFP Advisors Inc now owns 740 shares of the company’s stock worth $26,000 after purchasing an additional 580 shares during the period. Commonwealth Retirement Investments LLC purchased a new stake in Atlantic Union Bankshares in the fourth quarter worth about $39,000. EverSource Wealth Advisors LLC grew its holdings in Atlantic Union Bankshares by 504.7% in the second quarter. EverSource Wealth Advisors LLC now owns 1,542 shares of the company’s stock worth $48,000 after purchasing an additional 1,287 shares during the period. Abich Financial Wealth Management LLC purchased a new stake in Atlantic Union Bankshares in the third quarter worth about $50,000. Finally, Smartleaf Asset Management LLC grew its holdings in Atlantic Union Bankshares by 93.5% in the third quarter. Smartleaf Asset Management LLC now owns 1,943 shares of the company’s stock worth $69,000 after purchasing an additional 939 shares during the period. Hedge funds and other institutional investors own 78.58% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on the stock. Morgan Stanley upped their price objective on shares of Atlantic Union Bankshares from $44.00 to $47.00 and gave the stock an “equal weight” rating in a report on Monday, March 2nd. Zacks Research downgraded shares of Atlantic Union Bankshares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 31st. TD Cowen upped their target price on shares of Atlantic Union Bankshares from $44.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Finally, Piper Sandler dropped their target price on shares of Atlantic Union Bankshares from $47.50 to $45.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 22nd. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Atlantic Union Bankshares presently has a consensus rating of “Moderate Buy” and an average target price of $43.63.
Insiders Place Their Bets
In related news, Director Nancy H. Agee acquired 650 shares of the stock in a transaction that occurred on Monday, April 20th. The shares were bought at an average price of $39.05 per share, for a total transaction of $25,382.50. Following the completion of the transaction, the director directly owned 37,797 shares in the company, valued at approximately $1,475,972.85. This trade represents a 1.75% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.96% of the stock is currently owned by company insiders.
Atlantic Union Bankshares Trading Up 1.9%
Shares of NASDAQ AUB opened at $38.63 on Wednesday. The firm’s 50 day moving average price is $37.42 and its 200-day moving average price is $37.10. The company has a market cap of $5.53 billion, a PE ratio of 16.87 and a beta of 0.80. Atlantic Union Bankshares Co. has a 52-week low of $29.64 and a 52-week high of $42.18. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.91 and a current ratio of 0.91.
Atlantic Union Bankshares (NASDAQ:AUB – Get Free Report) last issued its earnings results on Tuesday, April 21st. The company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.03). The firm had revenue of $371.71 million during the quarter, compared to the consensus estimate of $391.24 million. Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%.During the same quarter in the prior year, the company posted $0.90 EPS. On average, equities research analysts expect that Atlantic Union Bankshares Co. will post 3.26 EPS for the current fiscal year.
Atlantic Union Bankshares Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were given a dividend of $0.37 per share. The ex-dividend date was Friday, May 22nd. This represents a $1.48 dividend on an annualized basis and a yield of 3.8%. Atlantic Union Bankshares’s dividend payout ratio is 62.71%.
Atlantic Union Bankshares Company Profile
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.
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