Blue Trust Inc. Lowers Stock Holdings in Atlantic Union Bankshares Co. $AUB

Blue Trust Inc. reduced its holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 97.3% in the 1st quarter, HoldingsChannel.com reports. The firm owned 1,320 shares of the company’s stock after selling 48,463 shares during the quarter. Blue Trust Inc.’s holdings in Atlantic Union Bankshares were worth $47,000 at the end of the most recent quarter.

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

Atlantic Union Bankshares Stock Performance

Shares of AUB stock opened at $42.27 on Friday. The company’s fifty day simple moving average is $38.53 and its 200-day simple moving average is $37.83. Atlantic Union Bankshares Co. has a 52 week low of $30.39 and a 52 week high of $43.62. 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 company has a market cap of $6.05 billion, a PE ratio of 18.46 and a beta of 0.78.

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 analysts’ consensus estimates of $0.92 by ($0.03). Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%.The business had revenue of $371.71 million for the quarter, compared to analysts’ expectations of $391.24 million. During the same period last year, the company posted $0.90 earnings per share. As a group, equities research analysts anticipate that Atlantic Union Bankshares Co. will post 3.26 EPS for the current year.

Atlantic Union Bankshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were given a $0.37 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $1.48 annualized dividend and a dividend yield of 3.5%. Atlantic Union Bankshares’s dividend payout ratio is presently 62.71%.

Insider Buying and Selling at Atlantic Union Bankshares

In related news, Director Nancy H. Agee bought 650 shares of the stock in a transaction dated Monday, April 20th. The stock was acquired at an average price of $39.05 per share, for a total transaction of $25,382.50. Following the completion of the purchase, the director owned 37,797 shares in the company, valued at $1,475,972.85. This represents a 1.75% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.96% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on AUB shares. TD Cowen increased their target price on Atlantic Union Bankshares from $44.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Zacks Research downgraded Atlantic Union Bankshares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Piper Sandler boosted their price target on Atlantic Union Bankshares from $45.00 to $46.00 and gave the company an “overweight” rating in a research report on Thursday, June 11th. Morgan Stanley upped their price target on Atlantic Union Bankshares from $42.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Monday. Finally, Stephens reaffirmed an “overweight” rating and issued a $46.00 price objective on shares of Atlantic Union Bankshares in a research note on Thursday, June 11th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $43.62.

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.