Oliver Luxxe Assets LLC Increases Stake in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Oliver Luxxe Assets LLC raised its position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 51.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,291 shares of the company’s stock after buying an additional 10,597 shares during the period. Oliver Luxxe Assets LLC’s holdings in Atlantic Union Bankshares were worth $1,105,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its holdings in 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 worth $179,687,000 after purchasing an additional 28,655 shares in the last quarter. Louisiana State Employees Retirement System bought a new position in Atlantic Union Bankshares in the 4th quarter worth $1,370,000. Franklin Resources Inc. increased its stake in shares of Atlantic Union Bankshares by 41.5% in the 4th quarter. Franklin Resources Inc. now owns 892,883 shares of the company’s stock worth $32,626,000 after acquiring an additional 261,825 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Atlantic Union Bankshares by 2.9% in the 4th 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. Finally, Goldman Sachs Group Inc. increased its stake in shares of Atlantic Union Bankshares by 19.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 971,363 shares of the company’s stock worth $35,494,000 after acquiring an additional 161,479 shares in the last quarter. Hedge funds and other institutional investors own 78.58% of the company’s stock.

Analysts Set New Price Targets

AUB has been the topic of several recent analyst reports. Stephens cut their price objective on shares of Atlantic Union Bankshares from $43.00 to $40.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 24th. Keefe, Bruyette & Woods dropped their price target on shares of Atlantic Union Bankshares from $36.00 to $35.00 and set a “market perform” rating on the stock in a report on Wednesday, April 24th. Finally, Piper Sandler dropped their price objective 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.

Atlantic Union Bankshares Stock Performance

NASDAQ AUB traded down $0.08 on Monday, reaching $32.77. 88,077 shares of the stock were exchanged, compared to its average volume of 393,418. Atlantic Union Bankshares Co. has a one year low of $25.27 and a one year high of $37.86. The firm has a market capitalization of $2.94 billion, a PE ratio of 11.06 and a beta of 0.90. The company’s 50-day simple moving average is $32.48 and its two-hundred day simple moving average is $33.76. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.15.

Atlantic Union Bankshares (NASDAQ:AUB) last released its earnings results on Tuesday, April 23rd. The company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.04). The firm had revenue of $288.47 million for the quarter, compared to the consensus estimate of $178.82 million. Atlantic Union Bankshares had a return on equity of 9.47% and a net margin of 19.51%. During the same quarter in the previous year, the business posted $0.63 EPS. Analysts expect that Atlantic Union Bankshares Co. will post 2.95 EPS for the current fiscal year.

Atlantic Union Bankshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Friday, May 24th were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $1.28 annualized dividend and a yield of 3.91%. Atlantic Union Bankshares’s payout ratio is 47.06%.

Insider Activity at Atlantic Union Bankshares

In other Atlantic Union Bankshares news, Director Frank Russell Ellett acquired 5,000 shares of the stock in a transaction on Thursday, June 6th. The stock was acquired at an average price of $31.71 per share, for a total transaction of $158,550.00. Following the completion of the transaction, the director now directly owns 47,334 shares of the company’s stock, valued at $1,500,961.14. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.28% of the stock is currently owned by corporate insiders.

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.