Squarepoint Ops LLC Sells 205,982 Shares of Atlantic Union Bankshares Co. $AUB

Squarepoint Ops LLC reduced its holdings in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 90.4% in the second quarter, Holdings Channel reports. The institutional investor owned 21,859 shares of the company’s stock after selling 205,982 shares during the period. Squarepoint Ops LLC’s holdings in Atlantic Union Bankshares were worth $684,000 as of its most recent filing with the Securities and Exchange Commission.

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

Atlantic Union Bankshares Stock Performance

AUB opened at $36.34 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market capitalization of $5.18 billion, a price-to-earnings ratio of 15.87 and a beta of 0.85. The company has a fifty day moving average of $33.98 and a 200 day moving average of $33.76. Atlantic Union Bankshares Co. has a fifty-two week low of $22.85 and a fifty-two week high of $39.29.

Atlantic Union Bankshares (NASDAQ:AUB) last released its quarterly earnings data on Thursday, October 23rd. The company reported $0.84 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.02). The company had revenue of $319.21 million for the quarter, compared to the consensus estimate of $377.92 million. Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.50%. The firm’s revenue for the quarter was up 69.8% on a year-over-year basis. During the same period last year, the company earned $0.83 EPS. As a group, sell-side analysts forecast that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current fiscal year.

Atlantic Union Bankshares Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 14th were issued a dividend of $0.37 per share. The ex-dividend date was Friday, November 14th. This represents a $1.48 annualized dividend and a yield of 4.1%. This is a boost from Atlantic Union Bankshares’s previous quarterly dividend of $0.34. Atlantic Union Bankshares’s dividend payout ratio (DPR) is 79.14%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Cowen reissued a “buy” rating on shares of Atlantic Union Bankshares in a report on Thursday, December 11th. Morgan Stanley raised their price objective on shares of Atlantic Union Bankshares from $41.00 to $44.00 and gave the company an “equal weight” rating in a research report on Thursday, December 11th. Raymond James Financial set a $45.00 target price on shares of Atlantic Union Bankshares in a report on Thursday, December 11th. Piper Sandler decreased their price target on Atlantic Union Bankshares from $45.00 to $41.50 and set an “overweight” rating on the stock in a report on Friday, October 24th. Finally, National Bankshares set a $46.00 price objective on Atlantic Union Bankshares in a research report on Wednesday, September 24th. Six investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $41.61.

About Atlantic Union Bankshares

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.