Tributary Capital Management LLC Sells 6,344 Shares of Atlantic Union Bankshares Co. (NASDAQ:AUB)

Tributary Capital Management LLC lowered its stake in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 1.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 600,213 shares of the company’s stock after selling 6,344 shares during the period. Atlantic Union Bankshares makes up approximately 1.7% of Tributary Capital Management LLC’s investment portfolio, making the stock its 21st biggest position. Tributary Capital Management LLC owned 0.80% of Atlantic Union Bankshares worth $21,194,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of Atlantic Union Bankshares during the fourth quarter valued at approximately $18,902,000. Franklin Resources Inc. boosted its position in shares of Atlantic Union Bankshares by 41.5% during the fourth quarter. Franklin Resources Inc. now owns 892,883 shares of the company’s stock valued at $32,626,000 after buying an additional 261,825 shares during the period. Hsbc Holdings PLC boosted its position in shares of Atlantic Union Bankshares by 112.0% during the fourth quarter. Hsbc Holdings PLC now owns 464,349 shares of the company’s stock valued at $17,068,000 after buying an additional 245,357 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Atlantic Union Bankshares by 19.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 971,363 shares of the company’s stock valued at $35,494,000 after buying an additional 161,479 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in shares of Atlantic Union Bankshares by 62.0% during the third quarter. Envestnet Asset Management Inc. now owns 318,334 shares of the company’s stock valued at $9,162,000 after buying an additional 121,806 shares during the period. Hedge funds and other institutional investors own 78.58% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Piper Sandler dropped their target price on Atlantic Union Bankshares from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. Stephens lowered their price target on Atlantic Union Bankshares from $43.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday, April 24th. Finally, Keefe, Bruyette & Woods lowered their price target on Atlantic Union Bankshares from $36.00 to $35.00 and set a “market perform” rating for the company in a report on Wednesday, April 24th.

Atlantic Union Bankshares Stock Down 0.3 %

NASDAQ:AUB traded down $0.10 during trading hours on Monday, reaching $32.75. The company’s stock had a trading volume of 406,880 shares, compared to its average volume of 395,969. The company has a market capitalization of $2.94 billion, a P/E ratio of 12.04 and a beta of 0.90. Atlantic Union Bankshares Co. has a 12 month low of $25.27 and a 12 month high of $37.86. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a 50 day moving average price of $32.46 and a two-hundred day moving average price of $33.74.

Atlantic Union Bankshares (NASDAQ:AUB) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.04). The business had revenue of $288.47 million during 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 period last year, the firm earned $0.63 EPS. Equities analysts predict that Atlantic Union Bankshares Co. will post 2.95 EPS for the current fiscal year.

Atlantic Union Bankshares Announces Dividend

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

Insider Buying and Selling

In other Atlantic Union Bankshares news, Director Frank Russell Ellett purchased 4,467 shares of Atlantic Union Bankshares stock in a transaction dated Monday, June 10th. The shares were acquired at an average cost of $30.85 per share, with a total value of $137,806.95. Following the completion of the transaction, the director now owns 56,801 shares in the company, valued at approximately $1,752,310.85. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.28% of the stock is currently owned by insiders.

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.