London Co. of Virginia Reduces Position in Atlantic Union Bankshares Co. $AUB

London Co. of Virginia cut its stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 4.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 847,406 shares of the company’s stock after selling 37,125 shares during the quarter. London Co. of Virginia’s holdings in Atlantic Union Bankshares were worth $29,913,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in AUB. AQR Capital Management LLC grew its holdings in shares of Atlantic Union Bankshares by 634.3% during the first quarter. AQR Capital Management LLC now owns 41,902 shares of the company’s stock valued at $1,305,000 after buying an additional 36,196 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Atlantic Union Bankshares by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 53,232 shares of the company’s stock valued at $1,658,000 after buying an additional 2,322 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Atlantic Union Bankshares by 36.0% during the first quarter. Goldman Sachs Group Inc. now owns 2,137,072 shares of the company’s stock valued at $66,548,000 after buying an additional 565,564 shares during the last quarter. Empowered Funds LLC purchased a new stake in shares of Atlantic Union Bankshares during the first quarter valued at $3,011,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Atlantic Union Bankshares by 9.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 249,378 shares of the company’s stock valued at $7,766,000 after buying an additional 22,078 shares during the last quarter. 78.58% of the stock is owned by hedge funds and other institutional investors.

Atlantic Union Bankshares Stock Up 0.0%

Shares of AUB stock opened at $39.56 on Wednesday. The stock has a 50 day moving average of $37.79 and a 200 day moving average of $37.32. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.13. The stock has a market cap of $5.66 billion, a P/E ratio of 17.28 and a beta of 0.80. Atlantic Union Bankshares Co. has a twelve month low of $29.64 and a twelve month high of $42.18.

Atlantic Union Bankshares (NASDAQ:AUB) last announced its quarterly earnings results on Tuesday, April 21st. The company reported $0.89 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.03). The company had revenue of $371.71 million for the quarter, compared to analysts’ expectations of $391.24 million. Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.50%. During the same quarter in the prior year, the business posted $0.90 earnings per share. As a group, sell-side analysts expect that Atlantic Union Bankshares Co. will post 3.26 EPS for the current year.

Atlantic Union Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.7%. The ex-dividend date was Friday, May 22nd. Atlantic Union Bankshares’s dividend payout ratio (DPR) is currently 62.71%.

Insider Buying and Selling at Atlantic Union Bankshares

In other news, Director Nancy H. Agee bought 650 shares of the stock in a transaction dated Monday, April 20th. The shares were acquired at an average cost of $39.05 per share, with a total value of $25,382.50. Following the purchase, the director directly owned 37,797 shares in the company, valued at $1,475,972.85. The trade was a 1.75% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.96% of the company’s stock.

Analyst Ratings Changes

AUB has been the topic of a number of research analyst reports. Stephens reissued an “overweight” rating and set a $46.00 price objective on shares of Atlantic Union Bankshares in a report on Thursday, June 11th. Morgan Stanley boosted their target price on shares of Atlantic Union Bankshares from $44.00 to $47.00 and gave the company an “equal weight” rating in a research report on Monday, March 2nd. Piper Sandler boosted their target price on shares of Atlantic Union Bankshares from $45.00 to $46.00 and gave the company an “overweight” rating in a research report on Thursday, June 11th. TD Cowen boosted their target price on shares of Atlantic Union Bankshares from $44.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Finally, Zacks Research downgraded shares of Atlantic Union Bankshares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.88.

Atlantic Union Bankshares Profile

Atlantic Union Bankshares, Inc is a bank holding company headquartered in Richmond, Virginia, operating through its principal subsidiary Atlantic Union Bank. The company offers a full suite of commercial and consumer banking services to individuals, businesses and institutions across Virginia, Maryland, North Carolina and the District of Columbia. Leveraging a network of full-service branches, commercial lending offices and digital platforms, Atlantic Union Bankshares focuses on relationship-driven solutions tailored to its regional client base.

Atlantic Union’s product lineup includes traditional deposit accounts, such as checking, savings and money market accounts, along with certificates of deposit.