VIRGINIA RETIREMENT SYSTEMS ET Al Acquires 47,200 Shares of Atlantic Union Bankshares Co. $AUB

VIRGINIA RETIREMENT SYSTEMS ET Al lifted its holdings in Atlantic Union Bankshares Co. (NYSE:AUB) by 502.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 56,600 shares of the company’s stock after acquiring an additional 47,200 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Atlantic Union Bankshares were worth $2,148,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of AUB. Dimensional Fund Advisors LP boosted its stake in shares of Atlantic Union Bankshares by 1.4% during the first quarter. Dimensional Fund Advisors LP now owns 7,635,464 shares of the company’s stock valued at $272,883,000 after purchasing an additional 102,821 shares in the last quarter. Congress Asset Management Co. raised its stake in Atlantic Union Bankshares by 1.2% in the third quarter. Congress Asset Management Co. now owns 2,531,692 shares of the company’s stock worth $96,078,000 after buying an additional 30,528 shares in the last quarter. Principal Financial Group Inc. raised its stake in Atlantic Union Bankshares by 40.1% in the first quarter. Principal Financial Group Inc. now owns 951,373 shares of the company’s stock worth $34,002,000 after buying an additional 272,119 shares in the last quarter. Bank of America Corp DE raised its stake in Atlantic Union Bankshares by 53.4% in the first quarter. Bank of America Corp DE now owns 886,978 shares of the company’s stock worth $31,701,000 after buying an additional 308,934 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in Atlantic Union Bankshares by 20.8% during the second quarter. Wellington Management Group LLP now owns 721,211 shares of the company’s stock worth $30,514,000 after buying an additional 124,135 shares during the period. Hedge funds and other institutional investors own 78.58% of the company’s stock.

Atlantic Union Bankshares Stock Down 2.1%

NYSE:AUB opened at $39.55 on Wednesday. Atlantic Union Bankshares Co. has a fifty-two week low of $30.87 and a fifty-two week high of $43.62. The stock has a market capitalization of $5.65 billion, a P/E ratio of 10.81 and a beta of 0.83. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.94 and a current ratio of 0.94. The company’s 50-day simple moving average is $39.14 and its 200-day simple moving average is $39.09.

Atlantic Union Bankshares (NYSE:AUB) last posted its quarterly earnings data on Tuesday, October 20th. The company reported $0.96 EPS for the quarter, hitting the consensus estimate of $0.96. The firm had revenue of $387.90 million during the quarter, compared to analyst estimates of $392.72 million. Atlantic Union Bankshares had a net margin of 23.97% and a return on equity of 10.79%. Atlantic Union Bankshares’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.84 EPS. On average, equities analysts anticipate that Atlantic Union Bankshares Co. will post 3.77 earnings per share for the current fiscal year.

Atlantic Union Bankshares Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Friday, November 13th will be issued a $0.40 dividend. This is an increase from Atlantic Union Bankshares’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Friday, November 13th. Atlantic Union Bankshares’s dividend payout ratio is presently 40.44%.

Insider Buying and Selling at Atlantic Union Bankshares

In other news, Director Ronald Tillett sold 4,500 shares of the company’s stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $40.01, for a total transaction of $180,045.00. Following the transaction, the director directly owned 30,364 shares of the company’s stock, valued at approximately $1,214,863.64. This represents a 12.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Matthew L. Linderman sold 7,746 shares of the stock in a transaction on Thursday, October 22nd. The shares were sold at an average price of $40.00, for a total value of $309,840.00. Following the sale, the executive vice president owned 10,455 shares of the company’s stock, valued at approximately $418,200. This represents a 42.56% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.96% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

AUB has been the topic of several recent research reports. Weiss Ratings raised Atlantic Union Bankshares from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Morgan Stanley lifted their price target on Atlantic Union Bankshares from $49.00 to $50.00 and gave the company an “equal weight” rating in a report on Monday, September 28th. Piper Sandler reduced their price target on Atlantic Union Bankshares from $47.00 to $45.00 and set an “overweight” rating for the company in a research report on Wednesday, October 21st. Finally, TD Cowen decreased their price objective on Atlantic Union Bankshares from $44.00 to $43.00 and set a “buy” rating for the company in a research note on Wednesday, October 21st. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $45.80.

Atlantic Union Bankshares Company Profile

Atlantic Union Bankshares Corporation (NYSE:AUB) is a financial services holding company headquartered in Richmond, Virginia. Its principal subsidiary, Atlantic Union Bank, provides banking and related financial services to individuals, businesses, institutions and government entities.

The company offers consumer and commercial deposit accounts, residential and commercial real estate lending, business loans, personal loans, treasury and cash management services, mortgage banking, investment and wealth management, and other financial solutions.