London Co. of Virginia Sells 32,143 Shares of Atlantic Union Bankshares Co. $AUB

London Co. of Virginia cut its stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 3.5% during the third quarter, HoldingsChannel reports. The firm owned 884,531 shares of the company’s stock after selling 32,143 shares during the quarter. London Co. of Virginia’s holdings in Atlantic Union Bankshares were worth $31,215,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of AUB. Westside Investment Management Inc. boosted its holdings in shares of Atlantic Union Bankshares by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 780 shares of the company’s stock worth $27,000 after purchasing an additional 390 shares during the period. Farther Finance Advisors LLC lifted its position in Atlantic Union Bankshares by 309.5% in the third quarter. Farther Finance Advisors LLC now owns 864 shares of the company’s stock worth $30,000 after buying an additional 653 shares during the last quarter. Abich Financial Wealth Management LLC bought a new stake in Atlantic Union Bankshares in the third quarter worth $50,000. Nomura Asset Management Co. Ltd. boosted its stake in Atlantic Union Bankshares by 64.8% during the second quarter. Nomura Asset Management Co. Ltd. now owns 1,533 shares of the company’s stock worth $48,000 after buying an additional 603 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in Atlantic Union Bankshares by 504.7% during the second 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 last quarter. 78.58% of the stock is owned by institutional investors.

Atlantic Union Bankshares Trading Down 0.3%

NASDAQ AUB opened at $34.19 on Tuesday. The stock has a market cap of $4.87 billion, a PE ratio of 14.93 and a beta of 0.82. Atlantic Union Bankshares Co. has a 12 month low of $22.85 and a 12 month high of $42.18. The company’s 50-day moving average price is $38.42 and its 200-day moving average price is $36.03. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.13.

Atlantic Union Bankshares (NASDAQ:AUB) last announced its quarterly earnings data on Thursday, January 22nd. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.11. The company had revenue of $391.33 million during the quarter, compared to analyst estimates of $378.95 million. Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.50%. During the same quarter last year, the business posted $0.67 EPS. Equities research analysts forecast that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current year.

Atlantic Union Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, February 13th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.3%. Atlantic Union Bankshares’s dividend payout ratio (DPR) is 72.55%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Piper Sandler raised their target price on shares of Atlantic Union Bankshares from $41.50 to $47.50 and gave the stock an “overweight” rating in a report on Thursday, February 5th. TD Cowen reiterated a “buy” rating on shares of Atlantic Union Bankshares in a report on Thursday, December 11th. Raymond James Financial set a $45.00 price objective on shares of Atlantic Union Bankshares in a research report on Thursday, December 11th. Morgan Stanley raised their price objective on shares of Atlantic Union Bankshares from $44.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Monday, March 2nd. Finally, Stephens boosted their target price on Atlantic Union Bankshares from $43.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Atlantic Union Bankshares presently has a consensus rating of “Moderate Buy” and an average target price of $43.17.

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.