Tred Avon Family Wealth LLC Purchases Shares of 14,719 Atlantic Union Bankshares Co. $AUB

Tred Avon Family Wealth LLC acquired a new position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,719 shares of the company’s stock, valued at approximately $519,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Janney Montgomery Scott LLC grew its stake in Atlantic Union Bankshares by 55.1% in the second quarter. Janney Montgomery Scott LLC now owns 60,541 shares of the company’s stock valued at $1,894,000 after purchasing an additional 21,513 shares in the last quarter. StoneX Group Inc. bought a new stake in shares of Atlantic Union Bankshares during the 2nd quarter worth approximately $1,447,000. Verity & Verity LLC boosted its holdings in shares of Atlantic Union Bankshares by 29.6% in the 3rd quarter. Verity & Verity LLC now owns 504,420 shares of the company’s stock valued at $17,801,000 after buying an additional 115,245 shares during the last quarter. Truist Financial Corp grew its stake in shares of Atlantic Union Bankshares by 39.7% in the second quarter. Truist Financial Corp now owns 163,157 shares of the company’s stock valued at $5,104,000 after buying an additional 46,353 shares in the last quarter. Finally, Signaturefd LLC increased its holdings in Atlantic Union Bankshares by 731.9% during the second quarter. Signaturefd LLC now owns 3,577 shares of the company’s stock worth $112,000 after buying an additional 3,147 shares during the last quarter. 78.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on AUB shares. Morgan Stanley increased their price target on shares of Atlantic Union Bankshares from $41.00 to $44.00 and gave the company an “equal weight” rating in a research note on Thursday, December 11th. National Bankshares set a $46.00 price target on Atlantic Union Bankshares in a report on Wednesday, September 24th. TD Cowen boosted their price target on Atlantic Union Bankshares from $44.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Janney Montgomery Scott started coverage on Atlantic Union Bankshares in a research report on Wednesday, October 8th. They issued a “buy” rating and a $42.00 price objective for the company. Finally, Cowen restated a “buy” rating on shares of Atlantic Union Bankshares in a research note on Thursday, December 11th. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $41.61.

Atlantic Union Bankshares Stock Up 0.0%

AUB opened at $38.37 on Monday. The stock has a fifty day moving average of $35.17 and a 200-day moving average of $34.45. The company has a market capitalization of $5.47 billion, a P/E ratio of 16.76 and a beta of 0.83. Atlantic Union Bankshares Co. has a fifty-two week low of $22.85 and a fifty-two week high of $39.22. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.91 and a current ratio of 0.91.

Atlantic Union Bankshares (NASDAQ:AUB) last released its quarterly 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). Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.50%. The business had revenue of $319.21 million during the quarter, compared to analyst estimates of $377.92 million. During the same quarter last year, the company posted $0.83 earnings per share. The company’s revenue was up 69.8% on a year-over-year basis. On average, equities analysts expect that Atlantic Union Bankshares Co. will post 3.26 EPS for the current year.

Atlantic Union Bankshares Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 14th were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.9%. This is an increase from Atlantic Union Bankshares’s previous quarterly dividend of $0.34. The ex-dividend date was Friday, November 14th. Atlantic Union Bankshares’s dividend payout ratio is presently 79.14%.

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.