Mirabella Financial Services LLP Reduces Holdings in Atlantic Union Bankshares Co. $AUB

Mirabella Financial Services LLP lowered its stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 64.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 191,238 shares of the company’s stock after selling 340,237 shares during the quarter. Mirabella Financial Services LLP’s holdings in Atlantic Union Bankshares were worth $6,749,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Congress Asset Management Co. lifted its holdings in Atlantic Union Bankshares by 1,022.6% in the third quarter. Congress Asset Management Co. now owns 1,877,188 shares of the company’s stock worth $66,246,000 after buying an additional 1,709,975 shares during the period. Franklin Resources Inc. grew its holdings in shares of Atlantic Union Bankshares by 96.8% during the 2nd quarter. Franklin Resources Inc. now owns 3,313,002 shares of the company’s stock worth $103,631,000 after acquiring an additional 1,629,591 shares during the period. State Street Corp grew its holdings 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 acquiring an additional 1,457,647 shares during the period. Thrivent Financial for Lutherans raised its position in shares of Atlantic Union Bankshares by 1,128.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 1,398,654 shares of the company’s stock worth $49,358,000 after acquiring an additional 1,284,759 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Atlantic Union Bankshares by 59.2% in the 2nd quarter. Geode Capital Management LLC now owns 3,375,225 shares of the company’s stock worth $105,589,000 after acquiring an additional 1,255,064 shares in the last quarter. 78.58% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AUB. Morgan Stanley lifted their price target on Atlantic Union Bankshares from $44.00 to $47.00 and gave the company an “equal weight” rating in a research report on Monday, March 2nd. Piper Sandler increased their price objective on Atlantic Union Bankshares from $41.50 to $47.50 and gave the stock an “overweight” rating in a report on Thursday, February 5th. Zacks Research raised Atlantic Union Bankshares from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 5th. TD Cowen restated a “buy” rating on shares of Atlantic Union Bankshares in a report on Thursday, December 11th. Finally, Stephens upped their target price on shares of Atlantic Union Bankshares from $43.00 to $45.00 and gave the stock an “overweight” rating in a research report on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Atlantic Union Bankshares has a consensus rating of “Moderate Buy” and an average target price of $43.17.

Atlantic Union Bankshares Stock Performance

Shares of AUB opened at $33.81 on Thursday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.13. The stock has a market cap of $4.82 billion, a P/E ratio of 14.76 and a beta of 0.82. The business’s 50 day moving average price is $38.31 and its 200-day moving average price is $36.01. Atlantic Union Bankshares Co. has a 52 week low of $22.85 and a 52 week high of $42.18.

Atlantic Union Bankshares (NASDAQ:AUB) last posted 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 return on equity of 8.50% and a net margin of 15.53%.During the same quarter last year, the company earned $0.67 EPS. Equities research analysts anticipate that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current fiscal year.

Atlantic Union Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were issued a dividend of $0.37 per share. The ex-dividend date was Friday, February 13th. This represents a $1.48 annualized dividend and a dividend yield of 4.4%. Atlantic Union Bankshares’s dividend payout ratio (DPR) is presently 72.55%.

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.