Rafferty Asset Management LLC Sells 14,933 Shares of Atlantic Union Bankshares Co. $AUB

Rafferty Asset Management LLC decreased its position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 6.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 212,461 shares of the company’s stock after selling 14,933 shares during the period. Rafferty Asset Management LLC’s holdings in Atlantic Union Bankshares were worth $7,498,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Westside Investment Management Inc. lifted its stake in Atlantic Union Bankshares by 100.0% during the third quarter. Westside Investment Management Inc. now owns 780 shares of the company’s stock worth $27,000 after purchasing an additional 390 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Atlantic Union Bankshares by 309.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 864 shares of the company’s stock worth $30,000 after buying an additional 653 shares in the last quarter. Huntington National Bank lifted its position in shares of Atlantic Union Bankshares by 71.7% during the 2nd quarter. Huntington National Bank now owns 1,298 shares of the company’s stock worth $41,000 after buying an additional 542 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in Atlantic Union Bankshares by 64.8% in the second quarter. Nomura Asset Management Co. Ltd. now owns 1,533 shares of the company’s stock valued at $48,000 after buying an additional 603 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in Atlantic Union Bankshares by 504.7% in the second quarter. EverSource Wealth Advisors LLC now owns 1,542 shares of the company’s stock valued at $48,000 after acquiring an additional 1,287 shares during the last quarter. 78.58% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on AUB shares. Morgan Stanley increased their target price on shares of Atlantic Union Bankshares from $44.00 to $47.00 and gave the stock an “equal weight” rating in a report on Monday. Zacks Research upgraded shares of Atlantic Union Bankshares from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 5th. Piper Sandler increased their price objective on shares of Atlantic Union Bankshares from $41.50 to $47.50 and gave the company an “overweight” rating in a research note on Thursday, February 5th. TD Cowen reaffirmed 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 price target on shares of Atlantic Union Bankshares in a report on Thursday, December 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Atlantic Union Bankshares currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.85.

Atlantic Union Bankshares Stock Up 1.5%

Shares of NASDAQ AUB opened at $37.60 on Tuesday. The company has a 50 day simple moving average of $38.51 and a 200 day simple moving average of $35.95. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.91 and a quick ratio of 0.91. Atlantic Union Bankshares Co. has a 1 year low of $22.85 and a 1 year high of $42.18. The firm has a market cap of $5.36 billion, a PE ratio of 16.42 and a beta of 0.83.

Atlantic Union Bankshares (NASDAQ:AUB) last announced its quarterly earnings results on Thursday, January 22nd. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.11. The firm had revenue of $391.33 million during the quarter, compared to analysts’ expectations of $378.95 million. Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.50%. During the same period in the prior year, the company posted $0.67 EPS. On average, research analysts forecast 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, February 27th. Investors of record on Friday, February 13th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend was Friday, February 13th. Atlantic Union Bankshares’s dividend payout ratio (DPR) is currently 72.55%.

About Atlantic Union Bankshares

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.