Deroy & Devereaux Private Investment Counsel Inc. Buys 29,010 Shares of Atlantic Union Bankshares Co. $AUB

Deroy & Devereaux Private Investment Counsel Inc. boosted its stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 31.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 121,425 shares of the company’s stock after purchasing an additional 29,010 shares during the quarter. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in Atlantic Union Bankshares were worth $4,285,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of AUB. Curio Wealth LLC bought a new position in shares of Atlantic Union Bankshares during the 2nd quarter worth about $28,000. Farther Finance Advisors LLC grew its position in Atlantic Union Bankshares by 309.5% during the third quarter. Farther Finance Advisors LLC now owns 864 shares of the company’s stock worth $30,000 after buying an additional 653 shares in the last quarter. Huntington National Bank increased its stake 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 acquiring an additional 542 shares during the period. 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 valued at $48,000 after acquiring an additional 603 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Atlantic Union Bankshares by 504.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,542 shares of the company’s stock worth $48,000 after acquiring an additional 1,287 shares during the period. 78.58% of the stock is currently owned by institutional investors and hedge funds.

Atlantic Union Bankshares Stock Up 2.8%

AUB opened at $38.33 on Friday. The firm has a market cap of $5.46 billion, a price-to-earnings ratio of 16.74 and a beta of 0.83. 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 firm’s 50-day simple moving average is $35.06 and its 200-day simple moving average is $34.38. Atlantic Union Bankshares Co. has a twelve month low of $22.85 and a twelve month high of $39.22.

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

Atlantic Union Bankshares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 14th were given a dividend of $0.37 per share. This is a boost from Atlantic Union Bankshares’s previous quarterly dividend of $0.34. The ex-dividend date was Friday, November 14th. This represents a $1.48 dividend on an annualized basis and a yield of 3.9%. Atlantic Union Bankshares’s dividend payout ratio is currently 79.14%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. TD Cowen boosted their price objective on Atlantic Union Bankshares from $44.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Raymond James Financial set a $45.00 price objective on shares of Atlantic Union Bankshares in a research note on Thursday, December 11th. Morgan Stanley lifted their target price 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. National Bankshares set a $46.00 price target on shares of Atlantic Union Bankshares in a research report on Wednesday, September 24th. Finally, Piper Sandler cut their price target on shares of Atlantic Union Bankshares from $45.00 to $41.50 and set an “overweight” rating for the company in a research note on Friday, October 24th. Six research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $41.61.

Atlantic Union Bankshares 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.