Truist Financial Corp Sells 81,407 Shares of Atlantic Union Bankshares Co. $AUB

Truist Financial Corp trimmed its stake in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 44.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 99,857 shares of the company’s stock after selling 81,407 shares during the period. Truist Financial Corp’s holdings in Atlantic Union Bankshares were worth $3,525,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. State of New Jersey Common Pension Fund D raised its stake in shares of Atlantic Union Bankshares by 7.5% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 68,624 shares of the company’s stock valued at $2,422,000 after acquiring an additional 4,787 shares in the last quarter. M&T Bank Corp increased its holdings in Atlantic Union Bankshares by 6.0% during the 4th quarter. M&T Bank Corp now owns 16,859 shares of the company’s stock worth $595,000 after purchasing an additional 948 shares during the period. Pictet Asset Management Holding SA raised its position in Atlantic Union Bankshares by 7.7% during the 4th quarter. Pictet Asset Management Holding SA now owns 21,259 shares of the company’s stock valued at $750,000 after purchasing an additional 1,522 shares in the last quarter. UBS Group AG raised its position in Atlantic Union Bankshares by 10.9% during the 4th quarter. UBS Group AG now owns 475,259 shares of the company’s stock valued at $16,777,000 after purchasing an additional 46,867 shares in the last quarter. Finally, Ruffer LLP purchased a new stake in shares of Atlantic Union Bankshares in the 4th quarter worth $2,976,000. 78.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on AUB shares. Piper Sandler cut their price target on Atlantic Union Bankshares from $47.50 to $45.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 22nd. Zacks Research cut shares of Atlantic Union Bankshares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. Stephens raised their target price on shares of Atlantic Union Bankshares from $43.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, January 26th. Finally, Morgan Stanley upped their price target on shares of Atlantic Union Bankshares from $44.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Monday, March 2nd. Five investment analysts have rated the stock with a Buy rating and four have given 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 $42.89.

Atlantic Union Bankshares Trading Down 2.6%

NASDAQ:AUB opened at $36.97 on Tuesday. The stock has a market capitalization of $5.29 billion, a price-to-earnings ratio of 16.14 and a beta of 0.80. Atlantic Union Bankshares Co. has a 52 week low of $28.11 and a 52 week high of $42.18. 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 50 day moving average of $36.56 and a 200 day moving average of $36.41.

Atlantic Union Bankshares (NASDAQ:AUB) last released its quarterly earnings results on Tuesday, April 21st. The company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.03). The firm had revenue of $371.71 million during the quarter, compared to analysts’ expectations of $391.24 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 prior year, the firm posted $0.90 earnings per share. As a group, sell-side analysts anticipate that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current fiscal year.

Atlantic Union Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 22nd will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Friday, May 22nd. Atlantic Union Bankshares’s dividend payout ratio is currently 62.71%.

Insider Buying and Selling

In other Atlantic Union Bankshares news, Director Nancy H. Agee purchased 650 shares of the firm’s stock in a transaction on Monday, April 20th. The stock was bought at an average cost of $39.05 per share, for a total transaction of $25,382.50. Following the completion of the purchase, the director owned 37,797 shares in the company, valued at $1,475,972.85. This represents a 1.75% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.96% of the company’s stock.

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.