Atlantic Union Bankshares Co. $AUB Shares Purchased by North Reef Capital Management LP

North Reef Capital Management LP increased its stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 35.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,713,604 shares of the company’s stock after purchasing an additional 963,604 shares during the quarter. Atlantic Union Bankshares comprises about 6.1% of North Reef Capital Management LP’s portfolio, making the stock its 7th biggest position. North Reef Capital Management LP owned 2.61% of Atlantic Union Bankshares worth $131,053,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Westside Investment Management Inc. increased its stake in shares of Atlantic Union Bankshares by 100.0% in the 3rd 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 period. Farther Finance Advisors LLC raised its holdings in 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 purchasing an additional 653 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its position in Atlantic Union Bankshares by 64.8% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 1,533 shares of the company’s stock valued at $48,000 after purchasing an additional 603 shares during the period. EverSource Wealth Advisors LLC boosted its stake 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 purchasing an additional 1,287 shares during the last quarter. Finally, Abich Financial Wealth Management LLC acquired a new stake in shares of Atlantic Union Bankshares during the 3rd quarter worth approximately $50,000. Institutional investors and hedge funds own 78.58% of the company’s stock.

Analyst Ratings Changes

AUB has been the topic of several analyst reports. Morgan Stanley increased their price objective on shares of Atlantic Union Bankshares from $44.00 to $47.00 and gave the company an “equal weight” rating in a report on Monday, March 2nd. TD Cowen restated a “buy” rating on shares of Atlantic Union Bankshares in a research report on Thursday, December 11th. Raymond James Financial set a $45.00 price objective on Atlantic Union Bankshares in a report on Thursday, December 11th. Stephens raised their target price on Atlantic Union Bankshares from $43.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, January 26th. Finally, Piper Sandler upped their price target on Atlantic Union Bankshares from $41.50 to $47.50 and gave the company an “overweight” rating in a research note on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $43.17.

Atlantic Union Bankshares Price Performance

Shares of NASDAQ:AUB opened at $34.19 on Tuesday. Atlantic Union Bankshares Co. has a twelve month low of $22.85 and a twelve month high of $42.18. The stock’s 50 day moving average is $38.42 and its 200-day moving average is $36.03. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $4.87 billion, a price-to-earnings ratio of 14.93 and a beta of 0.82.

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

Atlantic Union Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 13th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date was Friday, February 13th. Atlantic Union Bankshares’s dividend payout ratio 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.