Elizabeth Park Capital Advisors Ltd. Purchases Shares of 76,020 Atlantic Union Bankshares Co. $AUB

Elizabeth Park Capital Advisors Ltd. acquired a new stake in Atlantic Union Bankshares Co. (NASDAQ:AUB) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 76,020 shares of the company’s stock, valued at approximately $2,378,000. Atlantic Union Bankshares comprises 2.1% of Elizabeth Park Capital Advisors Ltd.’s investment portfolio, making the stock its 26th biggest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Curio Wealth LLC bought a new stake in shares of Atlantic Union Bankshares in the second quarter worth about $28,000. Huntington National Bank lifted its holdings in Atlantic Union Bankshares by 71.7% in the 2nd quarter. Huntington National Bank now owns 1,298 shares of the company’s stock worth $41,000 after buying an additional 542 shares during the period. Nomura Asset Management Co. Ltd. grew its position in shares of Atlantic Union Bankshares by 64.8% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 1,533 shares of the company’s stock worth $48,000 after buying an additional 603 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Atlantic Union Bankshares by 504.7% during the second quarter. EverSource Wealth Advisors LLC now owns 1,542 shares of the company’s stock valued at $48,000 after buying an additional 1,287 shares during the period. Finally, Fifth Third Bancorp raised its holdings in shares of Atlantic Union Bankshares by 50.2% during the second quarter. Fifth Third Bancorp now owns 2,052 shares of the company’s stock valued at $64,000 after acquiring an additional 686 shares in the last quarter. 78.58% of the stock is owned by institutional investors.

Atlantic Union Bankshares Price Performance

Shares of AUB opened at $34.40 on Friday. Atlantic Union Bankshares Co. has a fifty-two week low of $22.85 and a fifty-two week high of $42.97. The firm’s 50-day simple moving average is $33.79 and its two-hundred day simple moving average is $33.19. The stock has a market cap of $4.90 billion, a PE ratio of 15.02 and a beta of 0.85. 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) last issued its quarterly earnings results on Thursday, October 23rd. The company reported $0.84 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.02). The company had revenue of $319.21 million during the quarter, compared to the consensus estimate of $377.92 million. Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%.The business’s revenue for the quarter was up 69.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.83 earnings per share. Analysts anticipate that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current fiscal year.

Atlantic Union Bankshares Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 14th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 4.3%. This is a positive change from Atlantic Union Bankshares’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Friday, November 14th. Atlantic Union Bankshares’s dividend payout ratio is presently 79.14%.

Analysts Set New Price Targets

A number of brokerages have issued reports on AUB. Raymond James Financial downgraded shares of Atlantic Union Bankshares from a “strong-buy” rating to a “market perform” rating in a research report on Friday. Piper Sandler reduced their price target on shares of Atlantic Union Bankshares from $45.00 to $41.50 and set an “overweight” rating on the stock in a research report on Friday, October 24th. Cowen restated a “buy” rating on shares of Atlantic Union Bankshares in a report on Monday, October 27th. Morgan Stanley lifted their price objective on Atlantic Union Bankshares from $35.00 to $41.00 and gave the company an “underperform” rating in a research report on Monday, September 29th. Finally, Janney Montgomery Scott initiated coverage on Atlantic Union Bankshares in a research report on Wednesday, October 8th. They issued a “buy” rating and a $42.00 target price for the company. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $40.61.

Atlantic Union Bankshares 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.