Royce & Associates LP Boosts Position in Atlantic Union Bankshares Co. $AUB

Royce & Associates LP boosted its stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 20.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 94,091 shares of the company’s stock after purchasing an additional 16,000 shares during the period. Royce & Associates LP’s holdings in Atlantic Union Bankshares were worth $3,320,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. AQR Capital Management LLC raised its stake in shares of Atlantic Union Bankshares by 634.3% during the first quarter. AQR Capital Management LLC now owns 41,902 shares of the company’s stock valued at $1,305,000 after acquiring an additional 36,196 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Atlantic Union Bankshares by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 53,232 shares of the company’s stock worth $1,658,000 after purchasing an additional 2,322 shares during the period. Goldman Sachs Group Inc. raised its position in Atlantic Union Bankshares by 36.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,137,072 shares of the company’s stock valued at $66,548,000 after purchasing an additional 565,564 shares in the last quarter. Empowered Funds LLC purchased a new stake in shares of Atlantic Union Bankshares in the 1st quarter worth $3,011,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Atlantic Union Bankshares by 9.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 249,378 shares of the company’s stock worth $7,766,000 after buying an additional 22,078 shares in the last quarter. 78.58% of the stock is currently owned by institutional investors.

Atlantic Union Bankshares Stock Down 1.9%

NASDAQ:AUB opened at $36.62 on Friday. The company’s 50-day simple moving average is $38.55 and its 200-day simple moving average is $36.00. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.91 and a current ratio of 0.91. Atlantic Union Bankshares Co. has a fifty-two week low of $22.85 and a fifty-two week high of $42.18. The stock has a market capitalization of $5.22 billion, a P/E ratio of 15.99 and a beta of 0.82.

Atlantic Union Bankshares (NASDAQ:AUB) last posted its quarterly earnings data on Thursday, January 22nd. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.86 by $0.11. Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.50%. The firm had revenue of $391.33 million during the quarter, compared to analyst estimates of $378.95 million. During the same quarter in the previous year, the business posted $0.67 EPS. On average, equities analysts anticipate that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current fiscal year.

Atlantic Union Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, February 13th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.0%. Atlantic Union Bankshares’s dividend payout ratio is presently 72.55%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on AUB shares. Raymond James Financial set a $45.00 price objective on Atlantic Union Bankshares in a report on Thursday, December 11th. TD Cowen restated a “buy” rating on shares of Atlantic Union Bankshares in a report on Thursday, December 11th. Morgan Stanley upped their price target on shares of Atlantic Union Bankshares from $44.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Monday. Stephens increased their price objective on shares of Atlantic Union Bankshares from $43.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday, January 26th. Finally, Piper Sandler boosted their price objective on shares of Atlantic Union Bankshares from $41.50 to $47.50 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $42.85.

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.