Deroy & Devereaux Private Investment Counsel Inc. Buys 885 Shares of Atlantic Union Bankshares Co. (NASDAQ:AUB)

Deroy & Devereaux Private Investment Counsel Inc. grew its stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 0.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 131,775 shares of the company’s stock after acquiring an additional 885 shares during the period. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in Atlantic Union Bankshares were worth $4,964,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC grew its stake in shares of Atlantic Union Bankshares by 88.6% during the third quarter. GAMMA Investing LLC now owns 1,041 shares of the company’s stock worth $39,000 after buying an additional 489 shares during the last quarter. UMB Bank n.a. grew its stake in shares of Atlantic Union Bankshares by 77.7% during the third quarter. UMB Bank n.a. now owns 1,105 shares of the company’s stock worth $42,000 after buying an additional 483 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Atlantic Union Bankshares by 110.2% during the third quarter. Blue Trust Inc. now owns 2,089 shares of the company’s stock worth $79,000 after buying an additional 1,095 shares during the last quarter. Family Firm Inc. bought a new stake in shares of Atlantic Union Bankshares during the second quarter worth $85,000. Finally, Central Pacific Bank Trust Division bought a new stake in shares of Atlantic Union Bankshares during the first quarter worth $179,000. Institutional investors own 78.58% of the company’s stock.

Analyst Ratings Changes

AUB has been the topic of several analyst reports. Hovde Group reduced their price objective on shares of Atlantic Union Bankshares from $46.00 to $45.00 and set an “outperform” rating on the stock in a research note on Friday, September 13th. Raymond James reduced their price objective on shares of Atlantic Union Bankshares from $45.00 to $41.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 2nd. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Atlantic Union Bankshares from $35.00 to $38.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $40.40.

Atlantic Union Bankshares Price Performance

AUB stock opened at $37.80 on Friday. The firm has a market cap of $3.39 billion, a price-to-earnings ratio of 13.27 and a beta of 0.89. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.13. Atlantic Union Bankshares Co. has a 12-month low of $28.24 and a 12-month high of $42.50. The company’s fifty day simple moving average is $37.87 and its 200 day simple moving average is $35.60.

Atlantic Union Bankshares (NASDAQ:AUB) last released its earnings results on Monday, October 21st. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.01. The business had revenue of $358.81 million for the quarter, compared to analyst estimates of $226.70 million. Atlantic Union Bankshares had a net margin of 16.25% and a return on equity of 8.85%. During the same quarter in the previous year, the business earned $0.80 earnings per share. On average, analysts expect that Atlantic Union Bankshares Co. will post 3.05 earnings per share for the current year.

Atlantic Union Bankshares Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be issued a $0.34 dividend. This is a positive change from Atlantic Union Bankshares’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.36 annualized dividend and a yield of 3.60%. Atlantic Union Bankshares’s payout ratio is presently 53.11%.

About Atlantic Union Bankshares

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.