Rockefeller Capital Management L.P. Acquires New Holdings in Atlantic Union Bankshares Co. $AUB

Rockefeller Capital Management L.P. bought a new position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 24,849 shares of the company’s stock, valued at approximately $777,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Atlantic Union Bankshares by 8.9% during the 1st quarter. Vanguard Group Inc. now owns 11,932,493 shares of the company’s stock worth $371,578,000 after purchasing an additional 978,793 shares in the last quarter. Geode Capital Management LLC grew its holdings in Atlantic Union Bankshares by 59.2% during the 2nd quarter. Geode Capital Management LLC now owns 3,375,225 shares of the company’s stock valued at $105,589,000 after buying an additional 1,255,064 shares during the last quarter. Ameriprise Financial Inc. increased its position in Atlantic Union Bankshares by 6.3% during the first quarter. Ameriprise Financial Inc. now owns 2,751,341 shares of the company’s stock worth $85,676,000 after buying an additional 163,451 shares in the last quarter. Westwood Holdings Group Inc. raised its holdings in shares of Atlantic Union Bankshares by 10.4% in the second quarter. Westwood Holdings Group Inc. now owns 2,376,734 shares of the company’s stock worth $74,344,000 after acquiring an additional 224,267 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Atlantic Union Bankshares by 36.0% in the first quarter. Goldman Sachs Group Inc. now owns 2,137,072 shares of the company’s stock valued at $66,548,000 after acquiring an additional 565,564 shares in the last quarter. Hedge funds and other institutional investors own 78.58% of the company’s stock.

Atlantic Union Bankshares Stock Performance

Atlantic Union Bankshares stock opened at $34.04 on Thursday. The company has a market cap of $4.85 billion, a price-to-earnings ratio of 14.86 and a beta of 0.93. Atlantic Union Bankshares Co. has a 12 month low of $22.85 and a 12 month high of $43.44. 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’s 50-day moving average is $34.02 and its 200-day moving average is $33.02.

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

Atlantic Union Bankshares Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.3%. This is a boost from Atlantic Union Bankshares’s previous quarterly dividend of $0.34. Atlantic Union Bankshares’s payout ratio is 79.14%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AUB. Raymond James Financial reissued a “strong-buy” rating on shares of Atlantic Union Bankshares in a research note on Friday, October 24th. Cowen reissued a “buy” rating on shares of Atlantic Union Bankshares in a research report on Monday, October 27th. Janney Montgomery Scott initiated coverage on shares of Atlantic Union Bankshares in a research report on Wednesday, October 8th. They set a “buy” rating and a $42.00 target price on the stock. Keefe, Bruyette & Woods boosted their price target on Atlantic Union Bankshares from $33.00 to $34.00 and gave the company a “market perform” rating in a report on Monday, August 4th. Finally, TD Cowen reduced their price target on Atlantic Union Bankshares from $46.00 to $44.00 and set a “buy” rating on the stock in a research note on Monday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $40.61.

Atlantic Union Bankshares Company Profile

Atlantic Union Bankshares Corporation operates as the bank holding company for Atlantic Union Bank that provides banking and related financial products and services to consumers and businesses in the United States. It operates in two segments, Wholesale Banking and Consumer Banking. The company accepts various deposit products, including checking, savings, time deposit, and money market accounts; certificates of deposit; and other depository services.