DAVENPORT & Co LLC Purchases 101,633 Shares of Atlantic Union Bankshares Co. $AUB

DAVENPORT & Co LLC increased its stake in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 14.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 826,434 shares of the company’s stock after purchasing an additional 101,633 shares during the period. DAVENPORT & Co LLC’s holdings in Atlantic Union Bankshares were worth $29,334,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Curio Wealth LLC purchased a new stake in shares of Atlantic Union Bankshares in the 2nd quarter valued at $28,000. Farther Finance Advisors LLC increased its holdings in Atlantic Union Bankshares by 309.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 864 shares of the company’s stock valued at $30,000 after purchasing an additional 653 shares during the period. Huntington National Bank raised its holdings in shares of 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 acquiring an additional 542 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in 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 purchasing an additional 603 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted 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 buying an additional 1,287 shares during the period. Institutional investors own 78.58% of the company’s stock.

Atlantic Union Bankshares Price Performance

AUB stock opened at $36.58 on Thursday. The stock has a market cap of $5.21 billion, a PE ratio of 15.97 and a beta of 0.85. The company has a 50-day moving average price of $34.01 and a 200 day moving average price of $33.78. Atlantic Union Bankshares Co. has a 12 month low of $22.85 and a 12 month high of $39.29. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.13.

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

Atlantic Union Bankshares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 14th were given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend was Friday, November 14th. This is a positive change from Atlantic Union Bankshares’s previous quarterly dividend of $0.34. Atlantic Union Bankshares’s payout ratio is currently 79.14%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on AUB shares. Cowen restated a “buy” rating on shares of Atlantic Union Bankshares in a report on Thursday, December 11th. Piper Sandler lowered their target price on shares of Atlantic Union Bankshares from $45.00 to $41.50 and set an “overweight” rating on the stock in a research note on Friday, October 24th. Morgan Stanley lifted their price objective on Atlantic Union Bankshares from $41.00 to $44.00 and gave the stock an “equal weight” rating in a report on Thursday, December 11th. National Bankshares set a $46.00 price target on shares of Atlantic Union Bankshares in a research report on Wednesday, September 24th. Finally, Raymond James Financial set a $45.00 price objective on Atlantic Union Bankshares in a research note on Thursday, December 11th. Six research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $41.61.

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.