Franklin Resources Inc. Lowers Holdings in Atlantic Union Bankshares Co. $AUB

Franklin Resources Inc. decreased its holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 1.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 3,242,829 shares of the company’s stock after selling 45,680 shares during the period. Franklin Resources Inc.’s holdings in Atlantic Union Bankshares were worth $114,472,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AUB. SG Americas Securities LLC grew its holdings in Atlantic Union Bankshares by 6,808.0% in the 4th quarter. SG Americas Securities LLC now owns 1,532,473 shares of the company’s stock valued at $54,096,000 after buying an additional 1,510,289 shares during the period. State Street Corp grew its holdings in Atlantic Union Bankshares by 24.5% in the 2nd 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 during the period. North Reef Capital Management LP grew its holdings in Atlantic Union Bankshares by 35.0% in the 3rd quarter. North Reef Capital Management LP now owns 3,713,604 shares of the company’s stock valued at $131,053,000 after buying an additional 963,604 shares during the period. Goldman Sachs Group Inc. grew its holdings in Atlantic Union Bankshares by 36.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,137,072 shares of the company’s stock valued at $66,548,000 after buying an additional 565,564 shares during the period. Finally, Balyasny Asset Management L.P. purchased a new stake in Atlantic Union Bankshares in the 2nd quarter valued at about $16,284,000. Hedge funds and other institutional investors own 78.58% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Morgan Stanley lifted their price target on Atlantic Union Bankshares from $44.00 to $47.00 and gave the company an “equal weight” rating in a report on Monday, March 2nd. Zacks Research lowered Atlantic Union Bankshares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 31st. TD Cowen lifted their price objective on Atlantic Union Bankshares from $44.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Finally, Piper Sandler reduced their price objective 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. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.63.

Atlantic Union Bankshares Stock Performance

NASDAQ AUB opened at $38.82 on Thursday. The firm has a market capitalization of $5.56 billion, a P/E ratio of 16.95 and a beta of 0.80. Atlantic Union Bankshares Co. has a 1-year low of $29.64 and a 1-year high of $42.18. 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 business’s 50-day simple moving average is $37.50 and its 200-day simple moving average is $37.15.

Atlantic Union Bankshares (NASDAQ:AUB) last released its quarterly earnings data on Tuesday, April 21st. The company reported $0.89 earnings per share 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 analyst estimates of $391.24 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 firm earned $0.90 earnings per share. Equities analysts predict that Atlantic Union Bankshares Co. will post 3.26 EPS for the current year.

Atlantic Union Bankshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $1.48 annualized dividend and a yield of 3.8%. Atlantic Union Bankshares’s payout ratio is 62.71%.

Insider Buying and Selling

In related news, Director Nancy H. Agee purchased 650 shares of Atlantic Union Bankshares stock in a transaction that occurred on Monday, April 20th. The shares were purchased at an average cost of $39.05 per share, with a total value of $25,382.50. Following the transaction, the director owned 37,797 shares of the company’s stock, valued at approximately $1,475,972.85. The trade was a 1.75% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.96% of the company’s stock.

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.