SPC Financial Inc. Invests $1.78 Million in Atlantic Union Bankshares Co. $AUB

SPC Financial Inc. purchased a new position in Atlantic Union Bankshares Co. (NASDAQ:AUB) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 56,870 shares of the company’s stock, valued at approximately $1,779,000.

Several other large investors have also recently made changes to their positions in the stock. Xponance Inc. raised its position in shares of Atlantic Union Bankshares by 5.8% in the 1st quarter. Xponance Inc. now owns 6,798 shares of the company’s stock worth $212,000 after acquiring an additional 374 shares in the last quarter. Corebridge Financial Inc. raised its position in shares of Atlantic Union Bankshares by 0.8% in the 1st quarter. Corebridge Financial Inc. now owns 48,026 shares of the company’s stock worth $1,496,000 after acquiring an additional 396 shares in the last quarter. CWM LLC raised its position in shares of Atlantic Union Bankshares by 99.4% in the 1st quarter. CWM LLC now owns 1,049 shares of the company’s stock worth $33,000 after acquiring an additional 523 shares in the last quarter. OneDigital Investment Advisors LLC raised its position in shares of Atlantic Union Bankshares by 8.7% in the 1st quarter. OneDigital Investment Advisors LLC now owns 6,619 shares of the company’s stock worth $206,000 after acquiring an additional 527 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its position in shares of Atlantic Union Bankshares by 1.9% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 30,755 shares of the company’s stock worth $958,000 after acquiring an additional 575 shares in the last quarter. 78.58% of the stock is owned by institutional investors.

Insider Transactions at Atlantic Union Bankshares

In other news, Director Frank Russell Ellett acquired 5,000 shares of the business’s stock in a transaction dated Thursday, August 7th. The shares were acquired at an average cost of $31.54 per share, with a total value of $157,700.00. Following the completion of the acquisition, the director owned 76,606 shares of the company’s stock, valued at approximately $2,416,153.24. This trade represents a 6.98% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO John C. Asbury bought 7,500 shares of the stock in a transaction dated Monday, July 28th. The stock was bought at an average price of $32.91 per share, for a total transaction of $246,825.00. Following the purchase, the chief executive officer directly owned 270,532 shares of the company’s stock, valued at approximately $8,903,208.12. The trade was a 2.85% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 18,941 shares of company stock worth $606,502 over the last three months. Corporate insiders own 0.87% of the company’s stock.

Atlantic Union Bankshares Stock Down 7.0%

Shares of AUB stock opened at $33.57 on Friday. The stock’s 50-day simple moving average is $34.78 and its 200-day simple moving average is $31.57. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a market capitalization of $4.78 billion, a PE ratio of 14.66 and a beta of 0.87. Atlantic Union Bankshares Co. has a fifty-two week low of $22.85 and a fifty-two week high of $44.54.

Atlantic Union Bankshares (NASDAQ:AUB) last announced its quarterly earnings data on Thursday, July 24th. The company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.15. The business had revenue of $377.22 million for the quarter, compared to analyst estimates of $369.70 million. Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%.The company’s revenue was up 92.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.63 earnings per share. Equities analysts expect that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current year.

Atlantic Union Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 4th were issued a $0.34 dividend. The ex-dividend date of this dividend was Monday, August 4th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.1%. Atlantic Union Bankshares’s dividend payout ratio is currently 66.02%.

Wall Street Analysts Forecast Growth

AUB has been the subject of several recent research reports. Piper Sandler reduced their price target on Atlantic Union Bankshares from $46.00 to $45.00 and set an “overweight” rating for the company in a research report on Friday, July 25th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $43.00 target price (up from $42.00) on shares of Atlantic Union Bankshares in a research report on Friday, October 3rd. Janney Montgomery Scott started coverage on Atlantic Union Bankshares in a research report on Wednesday. They set a “buy” rating and a $42.00 target price on the stock. Cowen started coverage on Atlantic Union Bankshares in a research report on Wednesday, September 24th. They set a “buy” rating on the stock. Finally, National Bankshares set a $46.00 target price on Atlantic Union Bankshares in a research report on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Atlantic Union Bankshares currently has a consensus rating of “Moderate Buy” and an average target price of $41.56.

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.