Westwood Holdings Group Inc. Purchases 224,267 Shares of Atlantic Union Bankshares Co. $AUB

Westwood Holdings Group Inc. boosted its holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 10.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,376,734 shares of the company’s stock after purchasing an additional 224,267 shares during the quarter. Westwood Holdings Group Inc. owned about 1.67% of Atlantic Union Bankshares worth $74,344,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Atlantic Union Bankshares by 8.9% during the first quarter. Vanguard Group Inc. now owns 11,932,493 shares of the company’s stock valued at $371,578,000 after buying an additional 978,793 shares during the last quarter. Geode Capital Management LLC boosted its stake in Atlantic Union Bankshares by 59.2% during the 2nd quarter. Geode Capital Management LLC now owns 3,375,225 shares of the company’s stock valued at $105,589,000 after purchasing an additional 1,255,064 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Atlantic Union Bankshares by 6.3% during the 1st quarter. Ameriprise Financial Inc. now owns 2,751,341 shares of the company’s stock worth $85,676,000 after purchasing an additional 163,451 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Atlantic Union Bankshares by 36.0% in the first quarter. Goldman Sachs Group Inc. now owns 2,137,072 shares of the company’s stock worth $66,548,000 after purchasing an additional 565,564 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Atlantic Union Bankshares by 4.0% in the first quarter. Victory Capital Management Inc. now owns 1,644,177 shares of the company’s stock valued at $51,200,000 after purchasing an additional 63,650 shares in the last quarter. Institutional investors own 78.58% of the company’s stock.

Atlantic Union Bankshares Stock Performance

NASDAQ AUB opened at $32.51 on Friday. The company has a market capitalization of $4.63 billion, a PE ratio of 14.20 and a beta of 0.93. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.91 and a current ratio of 0.91. Atlantic Union Bankshares Co. has a 52-week low of $22.85 and a 52-week high of $44.54. The company has a 50-day simple moving average of $34.43 and a 200 day simple moving average of $32.77.

Atlantic Union Bankshares (NASDAQ:AUB) last released its earnings results on Thursday, October 23rd. The company reported $0.84 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.02). Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.50%. The company had revenue of $319.21 million during the quarter, compared to analysts’ expectations of $377.92 million. The firm’s revenue was up 69.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.83 earnings per share. On average, research analysts predict that Atlantic Union Bankshares Co. will post 3.26 EPS for the current year.

Atlantic Union Bankshares Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be given a $0.37 dividend. This is an increase from Atlantic Union Bankshares’s previous quarterly dividend of $0.34. This represents a $1.48 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend is Friday, November 14th. Atlantic Union Bankshares’s dividend payout ratio (DPR) is 79.14%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. National Bankshares set a $46.00 price target on Atlantic Union Bankshares in a report on Wednesday, September 24th. Piper Sandler cut their price objective on shares of Atlantic Union Bankshares from $45.00 to $41.50 and set an “overweight” rating on the stock in a report on Friday, October 24th. Cowen reiterated a “buy” rating on shares of Atlantic Union Bankshares in a research note on Monday, October 27th. Raymond James Financial reissued a “strong-buy” rating on shares of Atlantic Union Bankshares in a research report on Friday, October 24th. Finally, Morgan Stanley boosted their price target on shares of Atlantic Union Bankshares from $35.00 to $41.00 and gave the stock an “underperform” rating in a report on Monday, September 29th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Atlantic Union Bankshares currently has an average rating of “Moderate Buy” and a consensus target price of $40.61.

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.