Legal & General Group Plc Sells 24,067 Shares of Atlantic Union Bankshares Co. $AUB

Legal & General Group Plc cut its stake in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 6.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 356,267 shares of the company’s stock after selling 24,067 shares during the period. Legal & General Group Plc’s holdings in Atlantic Union Bankshares were worth $12,576,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. SG Americas Securities LLC boosted its stake in Atlantic Union Bankshares by 6,808.0% in the 4th quarter. SG Americas Securities LLC now owns 1,532,473 shares of the company’s stock valued at $54,096,000 after buying an additional 1,510,289 shares in the last quarter. State Street Corp raised its stake in Atlantic Union Bankshares by 24.5% during the second 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 in the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of Atlantic Union Bankshares by 1,128.0% during the third quarter. Thrivent Financial for Lutherans now owns 1,398,654 shares of the company’s stock valued at $49,358,000 after acquiring an additional 1,284,759 shares during the period. North Reef Capital Management LP boosted its stake in shares of Atlantic Union Bankshares by 35.0% in the 3rd quarter. North Reef Capital Management LP now owns 3,713,604 shares of the company’s stock valued at $131,053,000 after purchasing an additional 963,604 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Atlantic Union Bankshares by 36.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,137,072 shares of the company’s stock valued at $66,548,000 after purchasing an additional 565,564 shares in the last quarter. Institutional investors own 78.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on AUB shares. Morgan Stanley increased their target price 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. Piper Sandler dropped their price objective on shares of Atlantic Union Bankshares from $47.50 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, April 22nd. Finally, TD Cowen lifted their target price 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. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $43.63.

Atlantic Union Bankshares Stock Up 2.0%

Shares of NASDAQ:AUB opened at $37.62 on Wednesday. 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 stock has a market cap of $5.38 billion, a price-to-earnings ratio of 16.43 and a beta of 0.80. The company has a 50 day moving average of $37.08 and a 200-day moving average of $36.87. Atlantic Union Bankshares Co. has a one year low of $29.44 and a one year high of $42.18.

Atlantic Union Bankshares (NASDAQ:AUB) last released its earnings results on Tuesday, April 21st. The company reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.03). The business had revenue of $371.71 million for the quarter, compared to analyst estimates of $391.24 million. Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%.During the same period in the prior year, the firm posted $0.90 EPS. On average, sell-side 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 disclosed a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 22nd will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Friday, May 22nd. Atlantic Union Bankshares’s dividend payout ratio is currently 62.71%.

Insiders Place Their Bets

In related news, Director Nancy H. Agee bought 650 shares of the business’s stock in a transaction on Monday, April 20th. The shares were purchased at an average price of $39.05 per share, with a total value of $25,382.50. Following the completion of the purchase, the director owned 37,797 shares of the company’s stock, valued at $1,475,972.85. This represents a 1.75% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.96% of the company’s stock.

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.