First Trust Advisors LP Acquires 50,969 Shares of Atlantic Union Bankshares Co. $AUB

First Trust Advisors LP lifted its stake in shares of Atlantic Union Bankshares Co. (NYSE:AUB) by 18.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 322,737 shares of the company’s stock after buying an additional 50,969 shares during the quarter. First Trust Advisors LP owned about 0.23% of Atlantic Union Bankshares worth $11,535,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of AUB. IFP Advisors Inc grew its holdings in Atlantic Union Bankshares by 362.5% in the fourth quarter. IFP Advisors Inc now owns 740 shares of the company’s stock worth $26,000 after purchasing an additional 580 shares during the period. Commonwealth Retirement Investments LLC acquired a new position in shares of Atlantic Union Bankshares during the fourth quarter valued at about $39,000. EverSource Wealth Advisors LLC boosted its position in shares of Atlantic Union Bankshares by 504.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,542 shares of the company’s stock worth $48,000 after purchasing an additional 1,287 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of Atlantic Union Bankshares by 138.9% during the 4th quarter. Farther Finance Advisors LLC now owns 2,064 shares of the company’s stock worth $73,000 after purchasing 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 3rd quarter valued at about $77,000. Institutional investors own 78.58% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Weiss Ratings assumed coverage on Atlantic Union Bankshares in a research report on Monday, July 6th. They issued a “buy (b-)” rating for the company. TD Cowen boosted their price objective on Atlantic Union Bankshares from $46.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Stephens reiterated an “overweight” rating and issued a $46.00 target price on shares of Atlantic Union Bankshares in a report on Thursday, June 11th. Morgan Stanley lifted their price target on shares of Atlantic Union Bankshares from $42.00 to $45.00 and gave the company an “equal weight” rating in a research report on Monday, June 29th. Finally, Piper Sandler reiterated an “overweight” rating and set a $47.00 price objective on shares of Atlantic Union Bankshares in a report on Wednesday, July 22nd. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $44.12.

Atlantic Union Bankshares Stock Up 0.3%

AUB stock opened at $42.39 on Friday. The firm has a market capitalization of $6.07 billion, a PE ratio of 12.65 and a beta of 0.79. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.15. Atlantic Union Bankshares Co. has a twelve month low of $30.39 and a twelve month high of $43.62. The stock’s 50 day moving average is $40.54 and its 200-day moving average is $38.67.

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

Atlantic Union Bankshares Dividend Announcement

The firm 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 dividend payout ratio is currently 44.18%.

Atlantic Union Bankshares Company 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.