Atlantic Union Bankshares Co. $AUB Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. increased its stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 10.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 659,791 shares of the company’s stock after buying an additional 64,806 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Atlantic Union Bankshares were worth $23,284,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Hantz Financial Services Inc. raised its stake in shares of Atlantic Union Bankshares by 6.3% during the 3rd quarter. Hantz Financial Services Inc. now owns 60,252 shares of the company’s stock valued at $2,126,000 after buying an additional 3,563 shares during the last quarter. Westside Investment Management Inc. boosted its stake in shares of Atlantic Union Bankshares by 100.0% in the third quarter. Westside Investment Management Inc. now owns 780 shares of the company’s stock worth $27,000 after buying an additional 390 shares during the last quarter. Atlantic Union Bankshares Corp grew its holdings in Atlantic Union Bankshares by 16.6% during the third quarter. Atlantic Union Bankshares Corp now owns 836,231 shares of the company’s stock worth $29,511,000 after acquiring an additional 119,169 shares during the period. Jones Financial Companies Lllp raised its position in Atlantic Union Bankshares by 21.7% during the third quarter. Jones Financial Companies Lllp now owns 34,508 shares of the company’s stock valued at $1,241,000 after acquiring an additional 6,163 shares in the last quarter. Finally, UMB Bank n.a. raised its position in Atlantic Union Bankshares by 32.5% during the third quarter. UMB Bank n.a. now owns 1,660 shares of the company’s stock valued at $59,000 after acquiring an additional 407 shares in the last quarter. Institutional investors and hedge funds own 78.58% of the company’s stock.

Analyst Upgrades and Downgrades

AUB has been the topic of a number of recent analyst reports. Stephens increased their price target on shares of Atlantic Union Bankshares from $43.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, January 26th. Morgan Stanley upped their price objective on shares of Atlantic Union Bankshares from $41.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 11th. TD Cowen reissued a “buy” rating on shares of Atlantic Union Bankshares in a research note on Thursday, December 11th. Raymond James Financial set a $45.00 price target on Atlantic Union Bankshares in a research note on Thursday, December 11th. Finally, Zacks Research raised Atlantic Union Bankshares from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $42.55.

Atlantic Union Bankshares Stock Performance

Shares of NASDAQ:AUB opened at $40.19 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.91 and a quick ratio of 0.91. Atlantic Union Bankshares Co. has a 1 year low of $22.85 and a 1 year high of $42.18. The firm has a market capitalization of $5.73 billion, a PE ratio of 17.55 and a beta of 0.83. The business’s 50 day moving average price is $37.84 and its 200-day moving average price is $35.37.

Atlantic Union Bankshares (NASDAQ:AUB) last announced its quarterly earnings data on Thursday, January 22nd. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.11. Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%.The company had revenue of $391.33 million for the quarter, compared to analyst estimates of $378.95 million. During the same quarter last year, the firm posted $0.67 EPS. As a group, equities research analysts expect that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current fiscal year.

Atlantic Union Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, February 13th. This represents a $1.48 dividend on an annualized basis and a yield of 3.7%. Atlantic Union Bankshares’s payout ratio is 72.55%.

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.