HB Wealth Management LLC Makes New $503,000 Investment in Atlantic Union Bankshares Co. $AUB

HB Wealth Management LLC purchased a new position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 14,245 shares of the company’s stock, valued at approximately $503,000.

Other institutional investors have also modified their holdings of the company. Curio Wealth LLC bought a new stake in Atlantic Union Bankshares during the 2nd quarter worth approximately $28,000. Farther Finance Advisors LLC boosted its holdings in shares of Atlantic Union Bankshares by 309.5% in the third quarter. Farther Finance Advisors LLC now owns 864 shares of the company’s stock valued at $30,000 after buying an additional 653 shares during the period. Huntington National Bank increased its position in shares of Atlantic Union Bankshares by 71.7% during the second quarter. Huntington National Bank now owns 1,298 shares of the company’s stock worth $41,000 after acquiring an additional 542 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its position in shares of Atlantic Union Bankshares by 64.8% during the second quarter. Nomura Asset Management Co. Ltd. now owns 1,533 shares of the company’s stock worth $48,000 after acquiring an additional 603 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Atlantic Union Bankshares by 504.7% during the second quarter. EverSource Wealth Advisors LLC now owns 1,542 shares of the company’s stock worth $48,000 after acquiring an additional 1,287 shares during the period. Institutional investors own 78.58% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on AUB shares. TD Cowen upped their target price on shares of Atlantic Union Bankshares from $44.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Piper Sandler cut their price target on Atlantic Union Bankshares from $45.00 to $41.50 and set an “overweight” rating on the stock in a report on Friday, October 24th. Raymond James Financial set a $45.00 price objective on Atlantic Union Bankshares in a report on Thursday, December 11th. Cowen reissued a “buy” rating on shares of Atlantic Union Bankshares in a research report on Thursday, December 11th. Finally, Morgan Stanley upped their price target on Atlantic Union Bankshares from $41.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 11th. Six investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $41.61.

Atlantic Union Bankshares Price Performance

NASDAQ:AUB opened at $37.24 on Thursday. Atlantic Union Bankshares Co. has a 52-week low of $22.85 and a 52-week high of $39.29. The company has a market cap of $5.31 billion, a P/E ratio of 16.26 and a beta of 0.83. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.91 and a current ratio of 0.91. The stock’s 50-day simple moving average is $34.94 and its 200 day simple moving average is $34.36.

Atlantic Union Bankshares (NASDAQ:AUB) last posted its quarterly earnings results on Thursday, October 23rd. The company reported $0.84 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.02). Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.50%. The company had revenue of $319.21 million during the quarter, compared to the consensus estimate of $377.92 million. During the same quarter in the prior year, the business earned $0.83 earnings per share. The firm’s revenue for the quarter was up 69.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Atlantic Union Bankshares Co. will post 3.26 EPS for the current fiscal year.

Atlantic Union Bankshares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 14th were issued a dividend of $0.37 per share. The ex-dividend date was Friday, November 14th. This is a positive change from Atlantic Union Bankshares’s previous quarterly dividend of $0.34. This represents a $1.48 dividend on an annualized basis and a yield of 4.0%. Atlantic Union Bankshares’s dividend payout ratio is presently 79.14%.

Atlantic Union Bankshares Company 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.