Hsbc Holdings PLC Boosts Stake in Atlantic Union Bankshares Co. $AUB

Hsbc Holdings PLC boosted its stake in shares of Atlantic Union Bankshares Co. (NYSE:AUB) by 19.5% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 127,030 shares of the company’s stock after acquiring an additional 20,695 shares during the quarter. Hsbc Holdings PLC’s holdings in Atlantic Union Bankshares were worth $4,538,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. IFP Advisors Inc raised its position in Atlantic Union Bankshares by 362.5% in the fourth quarter. IFP Advisors Inc now owns 740 shares of the company’s stock valued at $26,000 after purchasing an additional 580 shares during the period. Commonwealth Retirement Investments LLC purchased a new position in shares of Atlantic Union Bankshares during the fourth quarter worth $39,000. EverSource Wealth Advisors LLC boosted its position in shares of Atlantic Union Bankshares by 504.7% during the second quarter. EverSource Wealth Advisors LLC now owns 1,542 shares of the company’s stock worth $48,000 after buying an additional 1,287 shares during the period. Farther Finance Advisors LLC grew its stake in shares of Atlantic Union Bankshares by 138.9% in the fourth quarter. Farther Finance Advisors LLC now owns 2,064 shares of the company’s stock valued at $73,000 after buying an additional 1,200 shares in the last quarter. Finally, Johnson Financial Group Inc. acquired a new stake in shares of Atlantic Union Bankshares in the third quarter valued at $77,000. 78.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AUB. TD Cowen increased their target price on Atlantic Union Bankshares from $46.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday. Stephens reaffirmed an “overweight” rating and issued a $46.00 target price on shares of Atlantic Union Bankshares in a research report on Thursday, June 11th. Piper Sandler reiterated an “overweight” rating and set a $47.00 price target on shares of Atlantic Union Bankshares in a research note on Wednesday. Weiss Ratings started coverage on shares of Atlantic Union Bankshares in a research report on Monday, July 6th. They set a “buy (b-)” rating on the stock. Finally, Zacks Research cut shares of Atlantic Union Bankshares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Atlantic Union Bankshares presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.12.

Atlantic Union Bankshares Stock Up 0.1%

Shares of NYSE:AUB opened at $42.18 on Friday. The firm has a 50 day simple moving average of $40.02 and a 200-day simple moving average of $38.48. Atlantic Union Bankshares Co. has a twelve month low of $30.39 and a twelve month high of $43.62. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $6.04 billion, a PE ratio of 12.59 and a beta of 0.79.

Atlantic Union Bankshares (NYSE:AUB) last released its quarterly earnings results on Tuesday, July 21st. The company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.02. The firm had revenue of $387.57 million for the quarter, compared to the consensus estimate of $389.06 million. Atlantic Union Bankshares had a return on equity of 10.55% and a net margin of 21.97%.The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.95 EPS. On average, equities analysts predict that Atlantic Union Bankshares Co. will post 3.76 EPS for the current fiscal year.

Atlantic Union Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 7th will be issued a $0.37 dividend. The ex-dividend date of this dividend is Friday, August 7th. This represents a $1.48 annualized dividend and a dividend yield of 3.5%. Atlantic Union Bankshares’s payout ratio is presently 62.71%.

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.