HB Wealth Management LLC Takes Position in Atlantic Union Bankshares Co. $AUB

HB Wealth Management LLC purchased a new position in Atlantic Union Bankshares Co. (NASDAQ:AUB) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 14,245 shares of the company’s stock, valued at approximately $503,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC increased its position in Atlantic Union Bankshares by 55.1% in the 2nd quarter. Janney Montgomery Scott LLC now owns 60,541 shares of the company’s stock valued at $1,894,000 after acquiring an additional 21,513 shares in the last quarter. StoneX Group Inc. acquired a new stake in shares of Atlantic Union Bankshares in the second quarter valued at approximately $1,447,000. Verity & Verity LLC increased its holdings in shares of Atlantic Union Bankshares by 29.6% in the third quarter. Verity & Verity LLC now owns 504,420 shares of the company’s stock valued at $17,801,000 after purchasing an additional 115,245 shares in the last quarter. Truist Financial Corp raised its position in Atlantic Union Bankshares by 39.7% in the 2nd quarter. Truist Financial Corp now owns 163,157 shares of the company’s stock worth $5,104,000 after purchasing an additional 46,353 shares during the last quarter. Finally, Signaturefd LLC lifted its holdings in Atlantic Union Bankshares by 731.9% during the 2nd quarter. Signaturefd LLC now owns 3,577 shares of the company’s stock worth $112,000 after buying an additional 3,147 shares in the last quarter. Institutional investors own 78.58% of the company’s stock.

Atlantic Union Bankshares Price Performance

Atlantic Union Bankshares stock opened at $37.24 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $5.31 billion, a P/E ratio of 16.26 and a beta of 0.83. The business has a 50-day moving average of $34.94 and a 200-day moving average of $34.36. Atlantic Union Bankshares Co. has a 1 year low of $22.85 and a 1 year high of $39.29.

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

Atlantic Union Bankshares Increases Dividend

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

Analysts Set New Price Targets

Several research firms have recently commented on AUB. National Bankshares set a $46.00 target price on Atlantic Union Bankshares in a research note on Wednesday, September 24th. Raymond James Financial set a $45.00 price objective on Atlantic Union Bankshares in a research report on Thursday, December 11th. Morgan Stanley boosted 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. Piper Sandler reduced 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. Finally, Cowen reissued a “buy” rating on shares of Atlantic Union Bankshares in a research note on Thursday, December 11th. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target 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.