Atlantic Union Bankshares Co. $AUB Stock Holdings Trimmed by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its holdings in shares of Atlantic Union Bankshares Co. (NYSE:AUB) by 29.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 217,553 shares of the company’s stock after selling 88,807 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Atlantic Union Bankshares were worth $7,830,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. IFP Advisors Inc raised its stake in shares of Atlantic Union Bankshares by 362.5% during the fourth quarter. IFP Advisors Inc now owns 740 shares of the company’s stock valued at $26,000 after purchasing an additional 580 shares in the last quarter. Commonwealth Retirement Investments LLC bought a new position in Atlantic Union Bankshares in the 4th quarter valued at about $39,000. EverSource Wealth Advisors LLC grew its position in Atlantic Union Bankshares by 504.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,542 shares of the company’s stock valued at $48,000 after buying an additional 1,287 shares in the last quarter. Farther Finance Advisors LLC increased its stake in Atlantic Union Bankshares by 138.9% during the 4th quarter. Farther Finance Advisors LLC now owns 2,064 shares of the company’s stock valued at $73,000 after buying an additional 1,200 shares during the period. Finally, Johnson Financial Group Inc. acquired a new position in Atlantic Union Bankshares during the 3rd quarter valued at about $77,000. Institutional investors own 78.58% of the company’s stock.

Atlantic Union Bankshares Price Performance

Shares of NYSE AUB opened at $42.09 on Friday. Atlantic Union Bankshares Co. has a twelve month low of $30.39 and a twelve month high of $43.62. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $6.02 billion, a price-to-earnings ratio of 12.56 and a beta of 0.79. The firm has a 50-day moving average of $39.90 and a two-hundred day moving average of $38.45.

Atlantic Union Bankshares (NYSE:AUB) last posted its quarterly earnings data 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. The company had revenue of $387.57 million during the quarter, compared to analyst estimates of $389.06 million. Atlantic Union Bankshares had a net margin of 21.97% and a return on equity of 10.55%. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.95 EPS. As a group, analysts expect that Atlantic Union Bankshares Co. will post 3.75 earnings per share for the current fiscal year.

Atlantic Union Bankshares Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on AUB shares. Weiss Ratings began coverage on shares of Atlantic Union Bankshares in a research note on Monday, July 6th. They issued a “buy (b-)” rating for the company. TD Cowen raised their price objective on shares of Atlantic Union Bankshares from $46.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday. Zacks Research cut Atlantic Union Bankshares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. Piper Sandler reissued an “overweight” rating and set a $47.00 target price on shares of Atlantic Union Bankshares in a report on Wednesday. Finally, Morgan Stanley upped their target price 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 data from MarketBeat, Atlantic Union Bankshares has an average rating of “Moderate Buy” and a consensus price target of $44.12.

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.