Systematic Financial Management LP Purchases 1,028,723 Shares of Atlantic Union Bankshares Co. $AUB

Systematic Financial Management LP lifted its holdings in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 189.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,572,663 shares of the company’s stock after acquiring an additional 1,028,723 shares during the period. Atlantic Union Bankshares makes up 1.3% of Systematic Financial Management LP’s holdings, making the stock its 15th biggest holding. Systematic Financial Management LP owned 1.10% of Atlantic Union Bankshares worth $49,193,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Curio Wealth LLC purchased a new stake in Atlantic Union Bankshares in the 2nd quarter valued at $28,000. CWM LLC grew its stake in shares of Atlantic Union Bankshares by 99.4% in the 1st quarter. CWM LLC now owns 1,049 shares of the company’s stock worth $33,000 after acquiring an additional 523 shares in the last quarter. Huntington National Bank raised its holdings in shares of Atlantic Union Bankshares by 71.7% in the second quarter. Huntington National Bank now owns 1,298 shares of the company’s stock valued at $41,000 after purchasing an additional 542 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted 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 valued at $48,000 after purchasing an additional 603 shares in the last quarter. Finally, Fifth Third Bancorp boosted its holdings in Atlantic Union Bankshares by 50.2% during the second quarter. Fifth Third Bancorp now owns 2,052 shares of the company’s stock worth $64,000 after purchasing an additional 686 shares during the last quarter. Institutional investors own 78.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Janney Montgomery Scott began coverage on Atlantic Union Bankshares in a report on Wednesday, October 8th. They set a “buy” rating and a $42.00 price target on the stock. TD Cowen lowered their target price 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. Morgan Stanley increased their price target on shares of Atlantic Union Bankshares from $35.00 to $41.00 and gave the company an “underperform” rating in a research report on Monday, September 29th. Cowen reaffirmed a “buy” rating on shares of Atlantic Union Bankshares in a research report on Monday, October 27th. Finally, Raymond James Financial reiterated a “strong-buy” rating on shares of Atlantic Union Bankshares in a research note on Friday, October 24th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $40.61.

Atlantic Union Bankshares Trading Down 1.1%

Shares of Atlantic Union Bankshares stock opened at $34.08 on Wednesday. Atlantic Union Bankshares Co. has a 1 year low of $22.85 and a 1 year high of $43.38. The company has a 50 day simple moving average of $33.85 and a two-hundred day simple moving average of $33.12. The firm has a market cap of $4.86 billion, a PE ratio of 14.88 and a beta of 0.93. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.91 and a quick ratio of 0.91.

Atlantic Union Bankshares (NASDAQ:AUB) last released its earnings results on Thursday, October 23rd. The company reported $0.84 EPS 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 firm had revenue of $319.21 million during the quarter, compared to the consensus estimate of $377.92 million. During the same period in the prior year, the company earned $0.83 EPS. The firm’s revenue was up 69.8% compared to the same quarter last year. Analysts expect that Atlantic Union Bankshares Co. will post 3.26 earnings per share 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. Shareholders of record on Friday, November 14th were paid a $0.37 dividend. This is an increase from Atlantic Union Bankshares’s previous quarterly dividend of $0.34. This represents a $1.48 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend was Friday, November 14th. Atlantic Union Bankshares’s payout ratio is currently 79.14%.

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.