M&T Bank Corp Cuts Holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB)

M&T Bank Corp lessened its stake in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 6.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,092 shares of the company’s stock after selling 1,488 shares during the period. M&T Bank Corp’s holdings in Atlantic Union Bankshares were worth $774,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of AUB. Parallel Advisors LLC boosted its stake in shares of Atlantic Union Bankshares by 4,072.2% in the 1st quarter. Parallel Advisors LLC now owns 751 shares of the company’s stock valued at $26,000 after purchasing an additional 733 shares in the last quarter. Covestor Ltd boosted its stake in shares of Atlantic Union Bankshares by 78.0% in the 1st quarter. Covestor Ltd now owns 826 shares of the company’s stock valued at $30,000 after purchasing an additional 362 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in shares of Atlantic Union Bankshares by 57.9% in the 4th quarter. Quadrant Capital Group LLC now owns 1,566 shares of the company’s stock valued at $55,000 after purchasing an additional 574 shares in the last quarter. Ensign Peak Advisors Inc purchased a new stake in shares of Atlantic Union Bankshares in the 3rd quarter valued at $58,000. Finally, Belpointe Asset Management LLC purchased a new stake in shares of Atlantic Union Bankshares in the 4th quarter valued at $59,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Atlantic Union Bankshares Trading Up 2.5 %

Shares of AUB opened at $30.44 on Friday. The stock has a market capitalization of $2.28 billion, a P/E ratio of 10.95 and a beta of 1.05. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.16. The firm has a fifty day simple moving average of $29.55 and a two-hundred day simple moving average of $30.69. Atlantic Union Bankshares Co. has a twelve month low of $23.32 and a twelve month high of $41.04.

Atlantic Union Bankshares (NASDAQ:AUB) last announced its quarterly earnings results on Tuesday, July 25th. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.05. The business had revenue of $179.95 million during the quarter, compared to analysts’ expectations of $177.87 million. Atlantic Union Bankshares had a net margin of 24.25% and a return on equity of 9.97%. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.69 EPS. On average, research analysts anticipate that Atlantic Union Bankshares Co. will post 2.75 EPS for the current year.

Atlantic Union Bankshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Friday, August 11th were given a dividend of $0.30 per share. The ex-dividend date was Thursday, August 10th. This represents a $1.20 annualized dividend and a yield of 3.94%. Atlantic Union Bankshares’s payout ratio is currently 43.17%.

About Atlantic Union Bankshares

Atlantic Union Bankshares Corporation operates as the bank holding company for Atlantic Union Bank that provides banking and related financial products and services to consumers and businesses in the United States. It operates in two segments, Wholesale Banking and Consumer Banking. The company accepts various deposit products, including checking, savings, NOW, time deposit, and money market accounts; certificates of deposit; and other depository services.