DAVENPORT & Co LLC Decreases Stock Holdings in Atlantic Union Bankshares Co. $AUB

DAVENPORT & Co LLC lowered its position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 8.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 760,660 shares of the company’s stock after selling 65,774 shares during the period. DAVENPORT & Co LLC’s holdings in Atlantic Union Bankshares were worth $26,974,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Congress Asset Management Co. lifted its holdings in Atlantic Union Bankshares by 4.7% during the 4th quarter. Congress Asset Management Co. now owns 1,964,949 shares of the company’s stock worth $69,363,000 after buying an additional 87,761 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Atlantic Union Bankshares by 6,808.0% in the 4th quarter. SG Americas Securities LLC now owns 1,532,473 shares of the company’s stock valued at $54,096,000 after acquiring an additional 1,510,289 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Atlantic Union Bankshares by 4.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 55,294 shares of the company’s stock valued at $2,041,000 after acquiring an additional 2,568 shares during the last quarter. Oliver Luxxe Assets LLC raised its position in shares of Atlantic Union Bankshares by 38.6% during the 4th quarter. Oliver Luxxe Assets LLC now owns 64,414 shares of the company’s stock worth $2,274,000 after acquiring an additional 17,932 shares in the last quarter. Finally, Canal Capital Management LLC lifted its stake in Atlantic Union Bankshares by 2.6% during the fourth quarter. Canal Capital Management LLC now owns 54,600 shares of the company’s stock worth $1,927,000 after purchasing an additional 1,401 shares during the last quarter. Hedge funds and other institutional investors own 78.58% of the company’s stock.

Analyst Ratings Changes

AUB has been the subject of a number of research analyst reports. TD Cowen reaffirmed a “buy” rating on shares of Atlantic Union Bankshares in a report on Thursday, December 11th. Raymond James Financial set a $45.00 price objective on shares of Atlantic Union Bankshares in a report on Thursday, December 11th. Piper Sandler upped their target price on shares of Atlantic Union Bankshares from $41.50 to $47.50 and gave the company an “overweight” rating in a report on Thursday, February 5th. Zacks Research raised shares of Atlantic Union Bankshares from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 5th. Finally, Stephens lifted their price target on shares of Atlantic Union Bankshares from $43.00 to $45.00 and gave the stock an “overweight” rating in a research note on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $43.17.

Atlantic Union Bankshares Stock Up 1.1%

Atlantic Union Bankshares stock opened at $35.32 on Thursday. The company has a market capitalization of $5.03 billion, a P/E ratio of 15.42 and a beta of 0.82. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.91 and a current ratio of 0.91. Atlantic Union Bankshares Co. has a fifty-two week low of $22.85 and a fifty-two week high of $42.18. The stock has a 50-day simple moving average of $38.07 and a 200-day simple moving average of $35.97.

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

Atlantic Union Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were given a dividend of $0.37 per share. The ex-dividend date was Friday, February 13th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.2%. Atlantic Union Bankshares’s dividend payout ratio (DPR) is 72.55%.

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.