Gabelli Funds LLC Increases Stock Position in Atlantic Union Bankshares Co. $AUB

Gabelli Funds LLC grew its holdings in shares of Atlantic Union Bankshares Co. (NYSE:AUB) by 18.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 143,392 shares of the company’s stock after purchasing an additional 22,433 shares during the period. Gabelli Funds LLC owned approximately 0.10% of Atlantic Union Bankshares worth $5,125,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Beacon Investment Advisors LLC boosted its stake in shares of Atlantic Union Bankshares by 0.7% in the fourth quarter. Beacon Investment Advisors LLC now owns 34,442 shares of the company’s stock valued at $1,216,000 after buying an additional 249 shares in the last quarter. Walleye Capital LLC grew its holdings in Atlantic Union Bankshares by 1.5% during the second quarter. Walleye Capital LLC now owns 22,000 shares of the company’s stock worth $688,000 after acquiring an additional 322 shares during the period. Maryland State Retirement & Pension System raised its position in Atlantic Union Bankshares by 1.7% in the fourth quarter. Maryland State Retirement & Pension System now owns 20,835 shares of the company’s stock worth $735,000 after acquiring an additional 347 shares in the last quarter. CIBC Asset Management Inc raised its position in Atlantic Union Bankshares by 3.6% in the fourth quarter. CIBC Asset Management Inc now owns 13,399 shares of the company’s stock worth $473,000 after acquiring an additional 468 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in Atlantic Union Bankshares by 5.7% in the third quarter. Mackenzie Financial Corp now owns 9,137 shares of the company’s stock valued at $322,000 after acquiring an additional 492 shares during the period. 78.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on AUB shares. Zacks Research lowered shares of Atlantic Union Bankshares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Weiss Ratings started coverage on shares of Atlantic Union Bankshares in a report on Monday, July 6th. They issued a “buy (b-)” rating for the company. TD Cowen raised their price objective on shares of Atlantic Union Bankshares from $46.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Piper Sandler reissued an “overweight” rating and set a $47.00 price objective on shares of Atlantic Union Bankshares in a report on Wednesday, July 22nd. Finally, Stephens restated an “overweight” rating and set a $46.00 target price on shares of Atlantic Union Bankshares in a research report on Thursday, June 11th. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $44.12.

Atlantic Union Bankshares Stock Performance

Shares of AUB stock opened at $42.16 on Tuesday. The stock has a fifty day moving average price of $40.13 and a 200 day moving average price of $38.53. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.93 and a current ratio of 0.93. The stock has a market cap of $6.03 billion, a PE ratio of 12.59 and a beta of 0.79. Atlantic Union Bankshares Co. has a 1 year low of $30.39 and a 1 year high of $43.62.

Atlantic Union Bankshares (NYSE:AUB) last announced its quarterly earnings results on Tuesday, July 21st. The company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.02. The business had revenue of $387.57 million during the quarter, compared to analysts’ expectations of $389.06 million. Atlantic Union Bankshares had a return on equity of 10.55% and a net margin of 21.97%.The business’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter last year, the business posted $0.95 earnings per share. Sell-side analysts forecast that Atlantic Union Bankshares Co. will post 3.76 earnings per share for the current fiscal year.

Atlantic Union Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Friday, August 7th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.5%. The ex-dividend date is Friday, August 7th. Atlantic Union Bankshares’s dividend payout ratio (DPR) is 44.18%.

Atlantic Union Bankshares 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.