GW&K Investment Management LLC Sells 83,830 Shares of Atlantic Union Bankshares Co. $AUB

GW&K Investment Management LLC decreased its holdings in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 5.0% during the fourth quarter, HoldingsChannel reports. The firm owned 1,609,015 shares of the company’s stock after selling 83,830 shares during the period. GW&K Investment Management LLC’s holdings in Atlantic Union Bankshares were worth $56,798,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. IFP Advisors Inc boosted its stake in shares of 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 stake in Atlantic Union Bankshares during the fourth quarter worth $39,000. Abich Financial Wealth Management LLC purchased a new stake in Atlantic Union Bankshares during the third quarter worth $50,000. EverSource Wealth Advisors LLC boosted its position in 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 in the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in Atlantic Union Bankshares by 93.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,943 shares of the company’s stock valued at $69,000 after acquiring an additional 939 shares in the last quarter. Institutional investors own 78.58% of the company’s stock.

Insider Buying and Selling at Atlantic Union Bankshares

In other news, Director Nancy H. Agee acquired 650 shares of Atlantic Union Bankshares stock in a transaction dated Monday, April 20th. The stock was purchased at an average cost of $39.05 per share, for a total transaction of $25,382.50. Following the completion of the purchase, the director directly owned 37,797 shares in the company, valued at $1,475,972.85. This trade represents a 1.75% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.96% of the company’s stock.

Atlantic Union Bankshares Trading Up 1.9%

NASDAQ AUB opened at $38.63 on Wednesday. Atlantic Union Bankshares Co. has a 12-month low of $29.64 and a 12-month high of $42.18. The company has a fifty day simple moving average of $37.42 and a two-hundred day simple moving average of $37.10. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.13. The stock has a market cap of $5.53 billion, a P/E ratio of 16.87 and a beta of 0.80.

Atlantic Union Bankshares (NASDAQ:AUB) last announced its quarterly earnings data on Tuesday, April 21st. The company reported $0.89 earnings per share 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 company had revenue of $371.71 million for the quarter, compared to analysts’ expectations of $391.24 million. During the same period last year, the firm earned $0.90 earnings per share. On average, analysts forecast that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current year.

Atlantic Union Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 22nd were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.8%. The ex-dividend date was Friday, May 22nd. Atlantic Union Bankshares’s payout ratio is presently 62.71%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. TD Cowen boosted their price target on Atlantic Union Bankshares from $44.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Morgan Stanley raised their price objective 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 cut their target price on Atlantic Union Bankshares from $47.50 to $45.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 22nd. Finally, Zacks Research downgraded shares of Atlantic Union Bankshares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $43.63.

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.