Atlantic Union Bankshares Co. (NYSE:AUB – Get Free Report) Director Ronald Tillett sold 4,500 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $40.01, for a total value of $180,045.00. Following the completion of the sale, the director owned 30,364 shares in the company, valued at approximately $1,214,863.64. This represents a 12.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Atlantic Union Bankshares Price Performance
NYSE:AUB traded down $0.85 during trading hours on Tuesday, reaching $39.55. 1,109,971 shares of the company’s stock were exchanged, compared to its average volume of 1,134,712. Atlantic Union Bankshares Co. has a 12 month low of $30.87 and a 12 month high of $43.62. The company has a market capitalization of $5.65 billion, a P/E ratio of 10.81 and a beta of 0.80. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.17. The business’s 50-day simple moving average is $39.16 and its two-hundred day simple moving average is $39.07.
Atlantic Union Bankshares (NYSE:AUB – Get Free Report) last posted its quarterly earnings results on Tuesday, October 20th. The company reported $0.96 EPS for the quarter, meeting the consensus estimate of $0.96. Atlantic Union Bankshares had a net margin of 23.97% and a return on equity of 10.79%. The business had revenue of $387.90 million for the quarter, compared to analysts’ expectations of $392.72 million. During the same period in the previous year, the company posted $0.84 EPS. Atlantic Union Bankshares’s revenue was up 3.3% on a year-over-year basis. Sell-side analysts expect that Atlantic Union Bankshares Co. will post 3.77 EPS for the current fiscal year.
Atlantic Union Bankshares Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Friday, November 13th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $1.60 annualized dividend and a yield of 4.0%. This is an increase from Atlantic Union Bankshares’s previous quarterly dividend of $0.37. Atlantic Union Bankshares’s payout ratio is 43.72%.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on the stock. Piper Sandler decreased their price objective on shares of Atlantic Union Bankshares from $47.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, October 21st. TD Cowen dropped their price objective on Atlantic Union Bankshares from $44.00 to $43.00 and set a “buy” rating on the stock in a research note on Wednesday, October 21st. Morgan Stanley increased their price objective on Atlantic Union Bankshares from $49.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Monday, September 28th. Finally, Weiss Ratings raised Atlantic Union Bankshares from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.80.
Get Our Latest Stock Analysis on AUB
Institutional Trading of Atlantic Union Bankshares
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AUB. Dimensional Fund Advisors LP raised its position in Atlantic Union Bankshares by 1.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 7,635,464 shares of the company’s stock valued at $272,883,000 after purchasing an additional 102,821 shares during the last quarter. Congress Asset Management Co. increased its stake in Atlantic Union Bankshares by 1.2% during the 3rd quarter. Congress Asset Management Co. now owns 2,531,692 shares of the company’s stock valued at $96,078,000 after purchasing an additional 30,528 shares in the last quarter. Principal Financial Group Inc. lifted its position 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. Bank of America Corp DE boosted its holdings in shares of Atlantic Union Bankshares by 53.4% during the 1st quarter. Bank of America Corp DE now owns 886,978 shares of the company’s stock valued at $31,701,000 after acquiring an additional 308,934 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in Atlantic Union Bankshares by 20.8% in the 2nd quarter. Wellington Management Group LLP now owns 721,211 shares of the company’s stock worth $30,514,000 after purchasing an additional 124,135 shares during the period. 78.58% of the stock is owned by institutional investors.
Atlantic Union Bankshares Company Profile
Atlantic Union Bankshares Corporation (NYSE:AUB) is a financial services holding company headquartered in Richmond, Virginia. Its principal subsidiary, Atlantic Union Bank, provides banking and related financial services to individuals, businesses, institutions and government entities.
The company offers consumer and commercial deposit accounts, residential and commercial real estate lending, business loans, personal loans, treasury and cash management services, mortgage banking, investment and wealth management, and other financial solutions.
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