Wealthspire Advisors LLC Makes New Investment in Atlantic Union Bankshares Co. $AUB

Wealthspire Advisors LLC purchased a new stake in Atlantic Union Bankshares Co. (NASDAQ:AUB) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,494 shares of the company’s stock, valued at approximately $234,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Inspire Advisors LLC acquired a new position in shares of Atlantic Union Bankshares in the 2nd quarter worth $3,064,000. WBI Investments LLC acquired a new position in shares of Atlantic Union Bankshares in the 2nd quarter valued at $915,000. Nomura Asset Management Co. Ltd. increased its stake in Atlantic Union Bankshares by 64.8% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 1,533 shares of the company’s stock worth $48,000 after purchasing an additional 603 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its stake in Atlantic Union Bankshares by 1.9% in the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 81,153 shares of the company’s stock worth $2,538,000 after purchasing an additional 1,540 shares in the last quarter. Finally, Rockefeller Capital Management L.P. acquired a new stake in Atlantic Union Bankshares during the 2nd quarter worth about $777,000. Institutional investors and hedge funds own 78.58% of the company’s stock.

Atlantic Union Bankshares Price Performance

Shares of NASDAQ:AUB opened at $32.88 on Friday. The firm has a market cap of $4.69 billion, a price-to-earnings ratio of 14.36 and a beta of 0.93. Atlantic Union Bankshares Co. has a 1 year low of $22.85 and a 1 year high of $44.54. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.13. The business has a fifty day simple moving average of $34.09 and a 200 day simple moving average of $32.92.

Atlantic Union Bankshares (NASDAQ:AUB) last issued 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 analysts’ expectations of $377.92 million. During the same quarter last year, the firm earned $0.83 EPS. The business’s revenue for the quarter was up 69.8% compared to the same quarter last year. As a group, sell-side analysts predict that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current fiscal year.

Atlantic Union Bankshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, November 14th. This is a boost from Atlantic Union Bankshares’s previous quarterly dividend of $0.34. This represents a $1.48 annualized dividend and a yield of 4.5%. Atlantic Union Bankshares’s payout ratio is 79.14%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Morgan Stanley raised their target price on shares of Atlantic Union Bankshares from $35.00 to $41.00 and gave the stock an “underperform” rating in a report on Monday, September 29th. Raymond James Financial restated a “strong-buy” rating on shares of Atlantic Union Bankshares in a research report on Friday, October 24th. Janney Montgomery Scott initiated coverage on Atlantic Union Bankshares in a research report on Wednesday, October 8th. They issued a “buy” rating and a $42.00 target price for the company. TD Cowen lowered their price target on Atlantic Union Bankshares from $46.00 to $44.00 and set a “buy” rating on the stock in a report on Monday, October 27th. Finally, Cowen reissued a “buy” rating on shares of Atlantic Union Bankshares in a research report on Monday, October 27th. One research 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 company. According to MarketBeat.com, Atlantic Union Bankshares presently has an average rating of “Moderate Buy” and an average target price of $40.61.

Atlantic Union Bankshares 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.