Atlantic Union Bankshares Co. $AUB Shares Purchased by Gabelli Funds LLC

Gabelli Funds LLC boosted its stake in Atlantic Union Bankshares Co. (NYSE:AUB) by 18.5% during the first quarter, Holdings Channel.com reports. The institutional investor owned 143,392 shares of the company’s stock after acquiring an additional 22,433 shares during the period. Gabelli Funds LLC’s holdings in Atlantic Union Bankshares were worth $5,125,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its position in Atlantic Union Bankshares by 1.4% during the first quarter. Dimensional Fund Advisors LP now owns 7,635,464 shares of the company’s stock worth $272,883,000 after buying an additional 102,821 shares in the last quarter. State Street Corp raised its holdings in shares of Atlantic Union Bankshares by 24.5% in the second quarter. State Street Corp now owns 7,400,456 shares of the company’s stock worth $231,486,000 after acquiring an additional 1,457,647 shares during the last quarter. North Reef Capital Management LP lifted its position in shares of Atlantic Union Bankshares by 23.1% in the fourth quarter. North Reef Capital Management LP now owns 4,572,090 shares of the company’s stock valued at $161,395,000 after acquiring an additional 858,486 shares in the last quarter. T. Rowe Price Investment Management Inc. purchased a new stake in shares of Atlantic Union Bankshares in the fourth quarter valued at $87,022,000. Finally, Goldman Sachs Group Inc. lifted its position 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 valued at $66,548,000 after acquiring an additional 565,564 shares in the last quarter. Institutional investors and hedge funds own 78.58% of the company’s stock.

Atlantic Union Bankshares Price Performance

Atlantic Union Bankshares stock opened at $42.16 on Tuesday. The firm has a fifty day moving average of $40.13 and a 200-day moving average of $38.53. Atlantic Union Bankshares Co. has a 52-week low of $30.39 and a 52-week high of $43.62. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $6.03 billion, a P/E ratio of 12.59 and a beta of 0.79.

Atlantic Union Bankshares (NYSE:AUB) last posted its earnings results on Tuesday, July 21st. The company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.02. Atlantic Union Bankshares had a net margin of 21.97% and a return on equity of 10.55%. The business had revenue of $387.57 million for the quarter, compared to analyst estimates of $389.06 million. During the same quarter in the previous year, the business posted $0.95 EPS. The business’s quarterly revenue was up 3.1% on a year-over-year basis. As a group, analysts predict that Atlantic Union Bankshares Co. will post 3.76 EPS for the current year.

Atlantic Union Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Friday, August 7th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Friday, August 7th. Atlantic Union Bankshares’s payout ratio is currently 44.18%.

Wall Street Analyst Weigh In

A number of analysts recently commented on AUB shares. Zacks Research cut Atlantic Union Bankshares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. TD Cowen upped their target price on shares of Atlantic Union Bankshares from $46.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Weiss Ratings assumed coverage on shares of Atlantic Union Bankshares in a research note on Monday, July 6th. They set a “buy (b-)” rating on the stock. Piper Sandler reissued an “overweight” rating and issued a $47.00 price objective on shares of Atlantic Union Bankshares in a research report on Wednesday, July 22nd. Finally, Morgan Stanley upped their price objective on shares of Atlantic Union Bankshares from $42.00 to $45.00 and gave the company an “equal weight” rating in a research note on Monday, June 29th. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Atlantic Union Bankshares presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.12.

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.