Bank of New York Mellon Corp Sells 37,600 Shares of Atlantic Union Bankshares Co. $AUB

Bank of New York Mellon Corp trimmed its position in shares of Atlantic Union Bankshares Co. (NYSE:AUB) by 2.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,341,139 shares of the company’s stock after selling 37,600 shares during the quarter. Bank of New York Mellon Corp’s holdings in Atlantic Union Bankshares were worth $47,932,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on AUB shares. Weiss Ratings began coverage on Atlantic Union Bankshares in a research note on Monday, July 6th. They set a “buy (b-)” rating for the company. Stephens reiterated an “overweight” rating and issued a $46.00 target price on shares of Atlantic Union Bankshares in a research note on Thursday, June 11th. Zacks Research downgraded Atlantic Union Bankshares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Morgan Stanley boosted their target price on shares of Atlantic Union Bankshares from $42.00 to $45.00 and gave the company an “equal weight” rating in a research note on Monday, June 29th. Finally, TD Cowen upped their price target on shares of Atlantic Union Bankshares from $46.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $44.12.

Atlantic Union Bankshares Price Performance

NYSE AUB opened at $42.18 on Friday. The firm’s fifty day simple moving average is $40.02 and its two-hundred day simple moving average is $38.48. The firm has a market capitalization of $6.04 billion, a P/E ratio of 12.59 and a beta of 0.79. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.15. Atlantic Union Bankshares Co. has a 12-month low of $30.39 and a 12-month high of $43.62.

Atlantic Union Bankshares (NYSE:AUB) last issued its quarterly earnings data on Tuesday, July 21st. The company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.92 by $0.02. The firm had revenue of $387.57 million during the quarter, compared to analyst estimates of $389.06 million. Atlantic Union Bankshares had a return on equity of 10.55% and a net margin of 21.97%.The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.95 EPS. Analysts forecast that Atlantic Union Bankshares Co. will post 3.76 EPS for the current fiscal year.

Atlantic Union Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 7th will be paid a dividend of $0.37 per share. The ex-dividend date is Friday, August 7th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.5%. Atlantic Union Bankshares’s payout ratio is presently 62.71%.

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.