Fifth Third Bancorp Buys 45,512 Shares of Atlantic Union Bankshares Co. $AUB

Fifth Third Bancorp increased its stake in Atlantic Union Bankshares Co. (NYSE:AUB) by 2,292.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 47,497 shares of the company’s stock after purchasing an additional 45,512 shares during the quarter. Fifth Third Bancorp’s holdings in Atlantic Union Bankshares were worth $1,698,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AUB. State Street Corp raised its position in shares of Atlantic Union Bankshares by 24.5% in the second quarter. State Street Corp now owns 7,400,456 shares of the company’s stock valued at $231,486,000 after purchasing an additional 1,457,647 shares during the period. North Reef Capital Management LP lifted its stake in shares of Atlantic Union Bankshares by 23.1% in the fourth quarter. North Reef Capital Management LP now owns 4,572,090 shares of the company’s stock worth $161,395,000 after buying an additional 858,486 shares during the last quarter. T. Rowe Price Investment Management Inc. bought a new stake in shares of Atlantic Union Bankshares during the 4th quarter worth $87,022,000. Goldman Sachs Group Inc. boosted its holdings in shares of Atlantic Union Bankshares by 36.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,137,072 shares of the company’s stock worth $66,548,000 after buying an additional 565,564 shares during the period. Finally, Morgan Stanley grew its stake in Atlantic Union Bankshares by 15.1% in the 4th quarter. Morgan Stanley now owns 1,555,413 shares of the company’s stock valued at $54,906,000 after buying an additional 204,407 shares during the last quarter. Institutional investors and hedge funds own 78.58% of the company’s stock.

Atlantic Union Bankshares News Summary

Here are the key news stories impacting Atlantic Union Bankshares this week:

• Positive Sentiment: Atlantic Union Bankshares beat Q2 expectations, reporting $0.94 EPS versus the $0.92 consensus estimate, while revenue rose 3.1% year over year. Atlantic Union Bankshares tops second-quarter forecasts as revenue and profit increase (AUB)
• Positive Sentiment: The company posted solid operating trends, including 6% sequential revenue growth, a 3.89% net interest margin, and very low net charge-offs of 0.03% of loans, which supports confidence in credit quality and earnings durability. Atlantic Union Bankshares: A Quality Hold
• Neutral Sentiment: Loan and deposit balances continued to expand, with loans at $28.67 billion and deposits at $30.47 billion, showing steady balance-sheet growth rather than a major surprise. Atlantic Union Bankshares: A Quality Hold
• Neutral Sentiment: One market note said the stock may be as much as 31% undervalued based on profitability, which could reinforce the bullish case but does not change the near-term operating picture by itself. Atlantic Union Bankshares (AUB) Stock May Be 31% Undervalued On Profitability
• Negative Sentiment: Revenue came in slightly below Wall Street expectations at $387.57 million versus $389.06 million, so the quarter was not a complete across-the-board beat. Atlantic Union Bankshares earnings release

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Weiss Ratings started coverage on shares of Atlantic Union Bankshares in a report on Monday, July 6th. They issued a “buy (b-)” rating on the stock. TD Cowen upped their price target on shares of Atlantic Union Bankshares from $46.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday. Piper Sandler reaffirmed an “overweight” rating and issued a $47.00 price target on shares of Atlantic Union Bankshares in a research report on Wednesday. Zacks Research lowered Atlantic Union Bankshares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 31st. Finally, Morgan Stanley boosted their price objective on Atlantic Union Bankshares from $42.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $44.12.

Atlantic Union Bankshares Stock Performance

NYSE:AUB opened at $42.40 on Thursday. The firm’s 50-day moving average is $39.80 and its 200-day moving average is $38.41. The company has a market cap of $6.07 billion, a price-to-earnings ratio of 12.66 and a beta of 0.79. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.92 and a current ratio of 0.93. Atlantic Union Bankshares Co. has a 52-week low of $30.39 and a 52-week high of $43.62.

Atlantic Union Bankshares (NYSE:AUB) last released its earnings results on Tuesday, July 21st. The company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.02. Atlantic Union Bankshares had a net margin of 21.97% and a return on equity of 10.55%. The business had revenue of $387.57 million during the quarter, compared to analysts’ expectations of $389.06 million. During the same quarter last year, the company earned $0.95 earnings per share. The firm’s revenue was up 3.1% on a year-over-year basis. Equities research analysts anticipate that Atlantic Union Bankshares Co. will post 3.74 earnings per share for the current year.

Atlantic Union Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Friday, May 22nd. Atlantic Union Bankshares’s dividend payout ratio (DPR) is presently 62.71%.

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.