Louisiana State Employees Retirement System Makes New $2.25 Million Investment in Atlantic Union Bankshares Co. $AUB

Louisiana State Employees Retirement System bought a new stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 62,900 shares of the company’s stock, valued at approximately $2,248,000.

Other hedge funds have also made changes to their positions in the company. Diversified Trust Co grew its position in shares of Atlantic Union Bankshares by 8.6% during the 1st quarter. Diversified Trust Co now owns 8,576 shares of the company’s stock worth $307,000 after buying an additional 681 shares in the last quarter. Hsbc Holdings PLC raised its holdings in shares of Atlantic Union Bankshares by 1,292.0% in the fourth quarter. Hsbc Holdings PLC now owns 106,335 shares of the company’s stock valued at $3,752,000 after acquiring an additional 98,696 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in Atlantic Union Bankshares by 724.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,331 shares of the company’s stock worth $118,000 after acquiring an additional 2,927 shares during the period. T. Rowe Price Investment Management Inc. purchased a new stake in Atlantic Union Bankshares in the fourth quarter worth about $87,022,000. Finally, Claris Financial LLC bought a new position in Atlantic Union Bankshares during the 4th quarter worth about $210,000. 78.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Atlantic Union Bankshares news, Director Nancy H. Agee bought 650 shares of the firm’s stock in a transaction that occurred on Monday, April 20th. The stock was bought at an average cost of $39.05 per share, for a total transaction of $25,382.50. Following the completion of the transaction, the director directly owned 37,797 shares of the company’s stock, valued at approximately $1,475,972.85. This trade represents a 1.75% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.96% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

AUB has been the subject of several recent research reports. Piper Sandler boosted their price target on shares of Atlantic Union Bankshares from $45.00 to $46.00 and gave the company an “overweight” rating in a report on Thursday, June 11th. TD Cowen increased 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 note on Tuesday, May 12th. Stephens reissued an “overweight” rating and set a $46.00 price objective on shares of Atlantic Union Bankshares in a report on Thursday, June 11th. Zacks Research lowered Atlantic Union Bankshares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. Finally, Morgan Stanley increased their target price on Atlantic Union Bankshares from $42.00 to $45.00 and gave the company an “equal weight” rating in a research report on Monday. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Atlantic Union Bankshares currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.62.

Atlantic Union Bankshares Price Performance

Shares of AUB opened at $42.17 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.91 and a quick ratio of 0.91. The company’s fifty day moving average price is $38.27 and its 200-day moving average price is $37.70. Atlantic Union Bankshares Co. has a 1-year low of $30.39 and a 1-year high of $42.28. The firm has a market capitalization of $6.04 billion, a PE ratio of 18.42 and a beta of 0.80.

Atlantic Union Bankshares (NASDAQ:AUB) last issued its 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 return on equity of 8.50% and a net margin of 15.53%.The firm had revenue of $371.71 million during the quarter, compared to analysts’ expectations of $391.24 million. During the same quarter last year, the business earned $0.90 EPS. On average, equities research analysts predict that Atlantic Union Bankshares Co. will post 3.26 EPS for the current year.

Atlantic Union Bankshares Announces Dividend

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