Schroder Investment Management Group Boosts Stake in Atlantic Union Bankshares Co. $AUB

Schroder Investment Management Group lifted its position in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 9.4% in the third quarter, Holdings Channel reports. The firm owned 731,359 shares of the company’s stock after acquiring an additional 62,614 shares during the period. Schroder Investment Management Group’s holdings in Atlantic Union Bankshares were worth $26,036,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Westside Investment Management Inc. lifted its stake in Atlantic Union Bankshares by 100.0% in the third quarter. Westside Investment Management Inc. now owns 780 shares of the company’s stock valued at $27,000 after buying an additional 390 shares during the last quarter. Farther Finance Advisors LLC grew its position in shares of Atlantic Union Bankshares by 309.5% during the third quarter. Farther Finance Advisors LLC now owns 864 shares of the company’s stock worth $30,000 after acquiring an additional 653 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its position in shares of Atlantic Union Bankshares by 64.8% during the second quarter. Nomura Asset Management Co. Ltd. now owns 1,533 shares of the company’s stock worth $48,000 after acquiring an additional 603 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Atlantic Union Bankshares by 504.7% in the 2nd 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 period. Finally, Abich Financial Wealth Management LLC purchased a new stake in Atlantic Union Bankshares in the 3rd quarter valued at $50,000. Hedge funds and other institutional investors own 78.58% of the company’s stock.

Atlantic Union Bankshares Stock Performance

Shares of AUB opened at $34.38 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market capitalization of $4.90 billion, a P/E ratio of 15.01 and a beta of 0.82. The company’s fifty day moving average is $38.48 and its two-hundred day moving average is $36.04. 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 released its earnings results on Thursday, January 22nd. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.86 by $0.11. The company 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 quarter last year, the business earned $0.67 EPS. On average, sell-side analysts predict that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current year.

Atlantic Union Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 13th were given a $0.37 dividend. The ex-dividend date was Friday, February 13th. This represents a $1.48 dividend on an annualized basis and a yield of 4.3%. Atlantic Union Bankshares’s dividend payout ratio (DPR) is presently 72.55%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. TD Cowen reiterated a “buy” rating on shares of Atlantic Union Bankshares in a research note on Thursday, December 11th. Stephens upped their target price on shares of Atlantic Union Bankshares from $43.00 to $45.00 and gave the company an “overweight” rating in a report on Monday, January 26th. Piper Sandler increased their target price on shares of Atlantic Union Bankshares from $41.50 to $47.50 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. Morgan Stanley raised their price target on Atlantic Union Bankshares from $44.00 to $47.00 and gave the stock an “equal weight” rating in a report on Monday, March 2nd. Finally, Raymond James Financial set a $45.00 price target on Atlantic Union Bankshares in a research report on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Atlantic Union Bankshares has an average rating of “Moderate Buy” and an average target price of $42.85.

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.