Verity & Verity LLC Buys Shares of 389,175 Atlantic Union Bankshares Co. $AUB

Verity & Verity LLC bought a new position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 389,175 shares of the company’s stock, valued at approximately $12,173,000. Verity & Verity LLC owned approximately 0.27% of Atlantic Union Bankshares as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in AUB. Curio Wealth LLC purchased a new stake in shares of Atlantic Union Bankshares in the 2nd quarter worth about $28,000. CWM LLC lifted its holdings in shares of Atlantic Union Bankshares by 99.4% in the first quarter. CWM LLC now owns 1,049 shares of the company’s stock valued at $33,000 after purchasing an additional 523 shares in the last quarter. Huntington National Bank grew its position in shares of Atlantic Union Bankshares by 71.7% in the second quarter. Huntington National Bank now owns 1,298 shares of the company’s stock valued at $41,000 after purchasing an additional 542 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its stake in shares of Atlantic Union Bankshares by 64.8% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 1,533 shares of the company’s stock worth $48,000 after purchasing an additional 603 shares in the last quarter. Finally, Fifth Third Bancorp raised its position in shares of Atlantic Union Bankshares by 50.2% during the 2nd quarter. Fifth Third Bancorp now owns 2,052 shares of the company’s stock worth $64,000 after purchasing an additional 686 shares during the last quarter. Hedge funds and other institutional investors own 78.58% of the company’s stock.

Atlantic Union Bankshares Price Performance

Shares of Atlantic Union Bankshares stock opened at $33.49 on Tuesday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.13. Atlantic Union Bankshares Co. has a twelve month low of $22.85 and a twelve month high of $44.54. The stock has a market capitalization of $4.77 billion, a P/E ratio of 14.38 and a beta of 0.93. The business’s fifty day moving average price is $34.05 and its 200 day moving average price is $32.98.

Atlantic Union Bankshares (NASDAQ:AUB) last announced its quarterly earnings results on Thursday, October 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.02). The company had revenue of $319.21 million during the quarter, compared to analyst estimates of $377.92 million. Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.50%. The firm’s revenue for the quarter was up 69.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.83 earnings per share. As a group, research analysts anticipate that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current year.

Atlantic Union Bankshares Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be given a dividend of $0.37 per share. This is a boost from Atlantic Union Bankshares’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.48 annualized dividend and a yield of 4.4%. Atlantic Union Bankshares’s dividend payout ratio is presently 79.14%.

Analysts Set New Price Targets

AUB has been the topic of a number of analyst reports. Morgan Stanley increased their target price on Atlantic Union Bankshares from $35.00 to $41.00 and gave the company an “underperform” rating in a report on Monday, September 29th. Keefe, Bruyette & Woods upped their target price on shares of Atlantic Union Bankshares from $33.00 to $34.00 and gave the company a “market perform” rating in a report on Monday, August 4th. National Bankshares set a $46.00 price target on shares of Atlantic Union Bankshares in a report on Wednesday, September 24th. Cowen reissued a “buy” rating on shares of Atlantic Union Bankshares in a research note on Monday, October 27th. Finally, Piper Sandler lowered their target price on shares of Atlantic Union Bankshares from $45.00 to $41.50 and set an “overweight” rating for the company in a research note on Friday, October 24th. One research 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average 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.