Atlantic Union Bankshares Co. $AUB Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC lessened its position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 10.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 200,797 shares of the company’s stock after selling 23,133 shares during the period. ProShare Advisors LLC owned approximately 0.14% of Atlantic Union Bankshares worth $7,086,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AUB. Congress Asset Management Co. lifted its stake in shares of Atlantic Union Bankshares by 1,022.6% in the 3rd quarter. Congress Asset Management Co. now owns 1,877,188 shares of the company’s stock valued at $66,246,000 after purchasing an additional 1,709,975 shares in the last quarter. Franklin Resources Inc. raised its holdings in Atlantic Union Bankshares by 96.8% in the second quarter. Franklin Resources Inc. now owns 3,313,002 shares of the company’s stock valued at $103,631,000 after buying an additional 1,629,591 shares during the period. State Street Corp lifted its position in Atlantic Union Bankshares by 24.5% during the second quarter. State Street Corp now owns 7,400,456 shares of the company’s stock valued at $231,486,000 after buying an additional 1,457,647 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in Atlantic Union Bankshares by 1,128.0% during the third quarter. Thrivent Financial for Lutherans now owns 1,398,654 shares of the company’s stock worth $49,358,000 after buying an additional 1,284,759 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Atlantic Union Bankshares by 59.2% in the second quarter. Geode Capital Management LLC now owns 3,375,225 shares of the company’s stock worth $105,589,000 after acquiring an additional 1,255,064 shares in the last quarter. 78.58% of the stock is currently owned by institutional investors and hedge funds.

Atlantic Union Bankshares Stock Performance

NASDAQ:AUB opened at $40.98 on Thursday. The firm has a 50-day moving average of $37.62 and a two-hundred day moving average of $35.29. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market cap of $5.84 billion, a P/E ratio of 17.89 and a beta of 0.83. Atlantic Union Bankshares Co. has a 1-year low of $22.85 and a 1-year high of $42.18.

Atlantic Union Bankshares (NASDAQ:AUB) last announced its earnings results on Thursday, January 22nd. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.11. The business had revenue of $391.33 million for the quarter, compared to analyst estimates of $378.95 million. Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%.During the same period in the previous year, the company earned $0.67 earnings per share. On average, research analysts expect that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current fiscal year.

Atlantic Union Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Friday, February 13th. Atlantic Union Bankshares’s dividend payout ratio is presently 72.55%.

Analyst Ratings Changes

Several research firms recently weighed in on AUB. Zacks Research upgraded shares of Atlantic Union Bankshares from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 5th. Stephens raised their price objective on Atlantic Union Bankshares from $43.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, January 26th. Morgan Stanley boosted their price objective on Atlantic Union Bankshares from $41.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 11th. TD Cowen reiterated a “buy” rating on shares of Atlantic Union Bankshares in a research note on Thursday, December 11th. Finally, Raymond James Financial set a $45.00 target price on Atlantic Union Bankshares in a report on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Atlantic Union Bankshares currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.55.

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.