XTX Topco Ltd Invests $2.25 Million in Atlantic Union Bankshares Co. $AUB

XTX Topco Ltd purchased a new stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 71,976 shares of the company’s stock, valued at approximately $2,251,000.

Other hedge funds also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC raised its position in Atlantic Union Bankshares by 47.0% in the second quarter. Steward Partners Investment Advisory LLC now owns 3,885 shares of the company’s stock valued at $122,000 after purchasing an additional 1,243 shares during the period. Summit Global Investments acquired a new stake in shares of Atlantic Union Bankshares during the 2nd quarter worth about $393,000. Ameritas Investment Partners Inc. raised its holdings in Atlantic Union Bankshares by 60.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 14,566 shares of the company’s stock valued at $456,000 after buying an additional 5,506 shares during the period. Prudential Financial Inc. lifted its position in Atlantic Union Bankshares by 67.3% in the second quarter. Prudential Financial Inc. now owns 148,444 shares of the company’s stock valued at $4,643,000 after buying an additional 59,738 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in Atlantic Union Bankshares by 76.1% during the second quarter. American Century Companies Inc. now owns 2,219,196 shares of the company’s stock worth $69,416,000 after buying an additional 959,332 shares during the period. 78.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AUB has been the subject of a number of research analyst reports. Janney Montgomery Scott began coverage on shares of Atlantic Union Bankshares in a research report on Wednesday, October 8th. They set a “buy” rating and a $42.00 price objective for the company. Cowen reiterated a “buy” rating on shares of Atlantic Union Bankshares in a report on Monday, October 27th. Morgan Stanley raised 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. TD Cowen dropped their target price on Atlantic Union Bankshares from $46.00 to $44.00 and set a “buy” rating for the company in a research report on Monday, October 27th. Finally, Raymond James Financial reissued a “strong-buy” rating on shares of Atlantic Union Bankshares in a research report on Friday, October 24th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Atlantic Union Bankshares currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.61.

Atlantic Union Bankshares Trading Down 0.6%

Shares of NASDAQ:AUB opened at $34.04 on Thursday. Atlantic Union Bankshares Co. has a 52 week low of $22.85 and a 52 week high of $43.44. The company’s 50 day moving average is $34.02 and its two-hundred day moving average is $33.02. The company has a market cap of $4.85 billion, a PE ratio of 14.86 and a beta of 0.93. 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 (NASDAQ:AUB) last posted its earnings results on Thursday, October 23rd. The company reported $0.84 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.02). The business had revenue of $319.21 million during the quarter, compared to analysts’ expectations of $377.92 million. Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.50%. The business’s quarterly revenue was up 69.8% compared to the same quarter last year. During the same period last year, the company earned $0.83 EPS. Equities analysts predict that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current fiscal year.

Atlantic Union Bankshares Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Friday, November 14th. This is a positive change from Atlantic Union Bankshares’s previous quarterly dividend of $0.34. Atlantic Union Bankshares’s dividend payout ratio (DPR) is currently 79.14%.

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.