Atlantic Union Bankshares Co. (NASDAQ:AUB) Shares Sold by Pitcairn Co.

Pitcairn Co. decreased its stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 2.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,556 shares of the company’s stock after selling 456 shares during the period. Pitcairn Co.’s holdings in Atlantic Union Bankshares were worth $691,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of AUB. Dimensional Fund Advisors LP lifted its stake in shares of Atlantic Union Bankshares by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,917,470 shares of the company’s stock valued at $179,687,000 after purchasing an additional 28,655 shares in the last quarter. Edgestream Partners L.P. purchased a new position in Atlantic Union Bankshares in the first quarter valued at approximately $783,000. Louisiana State Employees Retirement System acquired a new position in Atlantic Union Bankshares during the fourth quarter valued at approximately $1,370,000. Franklin Resources Inc. grew its stake in Atlantic Union Bankshares by 41.5% during the fourth quarter. Franklin Resources Inc. now owns 892,883 shares of the company’s stock worth $32,626,000 after buying an additional 261,825 shares during the period. Finally, Victory Capital Management Inc. increased its position in shares of Atlantic Union Bankshares by 2.9% in the fourth quarter. Victory Capital Management Inc. now owns 1,449,785 shares of the company’s stock worth $52,975,000 after acquiring an additional 40,659 shares in the last quarter. Hedge funds and other institutional investors own 78.58% of the company’s stock.

Atlantic Union Bankshares Stock Performance

Shares of AUB stock opened at $41.17 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.90 and a quick ratio of 0.90. The company’s fifty day moving average price is $33.63 and its two-hundred day moving average price is $33.79. The firm has a market capitalization of $3.70 billion, a P/E ratio of 15.14 and a beta of 0.90. Atlantic Union Bankshares Co. has a 12 month low of $26.91 and a 12 month high of $41.87.

Atlantic Union Bankshares (NASDAQ:AUB) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.05). Atlantic Union Bankshares had a return on equity of 9.47% and a net margin of 19.51%. The business had revenue of $212.20 million during the quarter, compared to analyst estimates of $216.03 million. During the same quarter last year, the firm posted $0.74 EPS. The company’s revenue was up 17.9% compared to the same quarter last year. On average, research analysts anticipate that Atlantic Union Bankshares Co. will post 2.92 earnings per share for the current fiscal year.

Atlantic Union Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 24th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend was Thursday, May 23rd. Atlantic Union Bankshares’s payout ratio is currently 47.06%.

Insider Buying and Selling

In related news, Director Frank Russell Ellett acquired 4,467 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was bought at an average cost of $30.85 per share, with a total value of $137,806.95. Following the acquisition, the director now directly owns 56,801 shares in the company, valued at $1,752,310.85. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.87% of the company’s stock.

Analysts Set New Price Targets

AUB has been the topic of several recent research reports. Piper Sandler reduced their target price on shares of Atlantic Union Bankshares from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. Hovde Group boosted their price objective on Atlantic Union Bankshares from $40.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday. Stephens lowered their target price on Atlantic Union Bankshares from $43.00 to $40.00 and set an “overweight” rating for the company in a research note on Wednesday, April 24th. Finally, Keefe, Bruyette & Woods reduced their price target on Atlantic Union Bankshares from $36.00 to $35.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 24th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $39.60.

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.