Raymond James & Associates grew its position in Atlantic Union Bankshares Co. (NASDAQ:AUB – Free Report) by 4.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 118,168 shares of the company’s stock after purchasing an additional 4,990 shares during the quarter. Raymond James & Associates owned approximately 0.16% of Atlantic Union Bankshares worth $3,066,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of the company. First Hawaiian Bank boosted its stake in Atlantic Union Bankshares by 53.3% during the second quarter. First Hawaiian Bank now owns 16,710 shares of the company’s stock worth $434,000 after acquiring an additional 5,807 shares in the last quarter. Rhumbline Advisers boosted its stake in Atlantic Union Bankshares by 94.9% during the first quarter. Rhumbline Advisers now owns 251,991 shares of the company’s stock worth $8,832,000 after acquiring an additional 122,679 shares in the last quarter. Dark Forest Capital Management LP boosted its stake in Atlantic Union Bankshares by 179.9% during the first quarter. Dark Forest Capital Management LP now owns 3,001 shares of the company’s stock worth $105,000 after acquiring an additional 1,929 shares in the last quarter. Park Avenue Securities LLC boosted its stake in Atlantic Union Bankshares by 12.2% during the first quarter. Park Avenue Securities LLC now owns 11,320 shares of the company’s stock worth $397,000 after acquiring an additional 1,234 shares in the last quarter. Finally, Brandywine Global Investment Management LLC boosted its stake in Atlantic Union Bankshares by 28.6% during the first quarter. Brandywine Global Investment Management LLC now owns 183,187 shares of the company’s stock worth $6,421,000 after acquiring an additional 40,713 shares in the last quarter. 77.64% of the stock is owned by institutional investors.
Analyst Ratings Changes
Separately, Stephens began coverage on shares of Atlantic Union Bankshares in a report on Tuesday, September 12th. They set an “overweight” rating and a $36.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.80.
Atlantic Union Bankshares Stock Performance
AUB opened at $28.07 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.16. The company’s fifty day moving average price is $29.05 and its two-hundred day moving average price is $28.72. Atlantic Union Bankshares Co. has a 1-year low of $23.32 and a 1-year high of $41.04. The company has a market cap of $2.11 billion, a price-to-earnings ratio of 10.32 and a beta of 1.04.
Atlantic Union Bankshares (NASDAQ:AUB – Get Free Report) last released its quarterly earnings data on Thursday, October 19th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.06. The firm had revenue of $274.25 million for the quarter, compared to the consensus estimate of $181.52 million. Atlantic Union Bankshares had a net margin of 21.93% and a return on equity of 10.05%. During the same quarter in the prior year, the company posted $0.74 earnings per share. On average, analysts expect that Atlantic Union Bankshares Co. will post 2.93 EPS for the current fiscal year.
Atlantic Union Bankshares Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Stockholders of record on Friday, November 10th will be issued a $0.32 dividend. The ex-dividend date is Thursday, November 9th. This represents a $1.28 annualized dividend and a dividend yield of 4.56%. This is an increase from Atlantic Union Bankshares’s previous quarterly dividend of $0.30. Atlantic Union Bankshares’s dividend payout ratio is currently 44.12%.
Atlantic Union Bankshares Company Profile
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.
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