Hsbc Holdings PLC Raises Position in Atlantic Union Bankshares Co. $AUB

Hsbc Holdings PLC grew its holdings in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 1,292.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 106,335 shares of the company’s stock after acquiring an additional 98,696 shares during the period. Hsbc Holdings PLC owned about 0.07% of Atlantic Union Bankshares worth $3,752,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of AUB. IFP Advisors Inc lifted its position in 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 purchased a new position in shares of Atlantic Union Bankshares during the 4th quarter valued at about $39,000. EverSource Wealth Advisors LLC grew its stake in shares of Atlantic Union Bankshares by 504.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,542 shares of the company’s stock valued at $48,000 after acquiring an additional 1,287 shares during the period. Farther Finance Advisors LLC grew its stake in shares of 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 acquiring an additional 1,200 shares during the period. Finally, Johnson Financial Group Inc. purchased a new stake in Atlantic Union Bankshares in the 3rd quarter worth approximately $77,000. 78.58% of the stock is currently owned by hedge funds and other institutional investors.

Atlantic Union Bankshares Stock Up 0.0%

Shares of AUB opened at $41.88 on Monday. The stock has a market capitalization of $5.99 billion, a price-to-earnings ratio of 18.29 and a beta of 0.80. Atlantic Union Bankshares Co. has a 1 year low of $30.39 and a 1 year high of $42.18. The business’s 50 day simple moving average is $38.18 and its 200-day simple moving average is $37.65. 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 (NASDAQ:AUB) last released its quarterly earnings results on Tuesday, April 21st. The company reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.03). Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.50%. The business had revenue of $371.71 million for the quarter, compared to analysts’ expectations of $391.24 million. During the same period in the previous year, the company earned $0.90 EPS. As a group, equities analysts expect that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current fiscal year.

Atlantic Union Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were given 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 was Friday, May 22nd. Atlantic Union Bankshares’s dividend payout ratio is currently 62.71%.

Insider Activity at Atlantic Union Bankshares

In other Atlantic Union Bankshares news, Director Nancy H. Agee purchased 650 shares of the stock in a transaction that occurred on Monday, April 20th. The stock was purchased at an average price of $39.05 per share, with a total value of $25,382.50. Following the acquisition, the director owned 37,797 shares in the company, valued at approximately $1,475,972.85. The trade was a 1.75% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.96% of the company’s stock.

Wall Street Analysts Forecast Growth

AUB has been the topic of a number of recent analyst reports. Piper Sandler raised their target price on shares of Atlantic Union Bankshares from $45.00 to $46.00 and gave the stock an “overweight” rating in a research note on Thursday, June 11th. Morgan Stanley upped their price target on shares of Atlantic Union Bankshares from $44.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Monday, March 2nd. Zacks Research cut shares of Atlantic Union Bankshares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 31st. TD Cowen raised their price objective on shares of Atlantic Union Bankshares from $44.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Finally, Stephens restated an “overweight” rating and set a $46.00 target price on shares of Atlantic Union Bankshares in a research note on Thursday, June 11th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $43.88.

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.