Atlantic Union Bankshares Co. $AUB Shares Bought by Blue Trust Inc.

Blue Trust Inc. grew its position in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 323.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 55,463 shares of the company’s stock after purchasing an additional 42,361 shares during the period. Blue Trust Inc.’s holdings in Atlantic Union Bankshares were worth $1,957,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Tritonpoint Wealth LLC lifted its holdings in Atlantic Union Bankshares by 1.8% in the third quarter. Tritonpoint Wealth LLC now owns 17,522 shares of the company’s stock valued at $618,000 after acquiring an additional 317 shares during the last quarter. Walleye Capital LLC increased its stake in Atlantic Union Bankshares by 1.5% during the second quarter. Walleye Capital LLC now owns 22,000 shares of the company’s stock worth $688,000 after acquiring an additional 322 shares during the last quarter. Benson Investment Management Company Inc. raised its position in Atlantic Union Bankshares by 0.3% in the third quarter. Benson Investment Management Company Inc. now owns 107,665 shares of the company’s stock valued at $3,799,000 after purchasing an additional 355 shares during the period. Corebridge Financial Inc. lifted its stake in shares of Atlantic Union Bankshares by 0.8% in the 1st quarter. Corebridge Financial Inc. now owns 48,026 shares of the company’s stock valued at $1,496,000 after purchasing an additional 396 shares during the last quarter. Finally, CWM LLC lifted its stake in shares of Atlantic Union Bankshares by 3.2% in the 3rd quarter. CWM LLC now owns 16,019 shares of the company’s stock valued at $565,000 after purchasing an additional 501 shares during the last quarter. Hedge funds and other institutional investors own 78.58% of the company’s stock.

Atlantic Union Bankshares Price Performance

Shares of AUB opened at $36.40 on Friday. The company has a market cap of $5.19 billion, a P/E ratio of 15.89 and a beta of 0.85. Atlantic Union Bankshares Co. has a fifty-two week low of $22.85 and a fifty-two week high of $39.29. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.13. The firm’s 50 day moving average price is $34.13 and its 200 day moving average price is $33.84.

Atlantic Union Bankshares (NASDAQ:AUB) last posted its quarterly earnings results on Thursday, October 23rd. The company reported $0.84 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.02). Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%.The business had revenue of $319.21 million during the quarter, compared to analyst estimates of $377.92 million. During the same quarter last year, the firm earned $0.83 EPS. The business’s revenue was up 69.8% on a year-over-year basis. On average, research 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 business also recently announced a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 14th were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 4.1%. 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 presently 79.14%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AUB. Janney Montgomery Scott initiated coverage on Atlantic Union Bankshares in a research report on Wednesday, October 8th. They set a “buy” rating and a $42.00 price objective for the company. TD Cowen lifted their price target on shares of Atlantic Union Bankshares from $44.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Cowen reissued a “buy” rating on shares of Atlantic Union Bankshares in a research note on Thursday, December 11th. Piper Sandler lowered their price objective on shares of Atlantic Union Bankshares from $45.00 to $41.50 and set an “overweight” rating for the company in a research report on Friday, October 24th. Finally, National Bankshares set a $46.00 target price on shares of Atlantic Union Bankshares in a report on Wednesday, September 24th. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.