Atlantic Union Bankshares Co. (NASDAQ:AUB) Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp lowered its stake in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 1.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 66,032 shares of the company’s stock after selling 1,164 shares during the quarter. Texas Permanent School Fund Corp owned about 0.09% of Atlantic Union Bankshares worth $1,714,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Parallel Advisors LLC lifted its position in Atlantic Union Bankshares by 4,072.2% in the first quarter. Parallel Advisors LLC now owns 751 shares of the company’s stock valued at $26,000 after buying an additional 733 shares during the last quarter. Covestor Ltd increased its stake in Atlantic Union Bankshares by 78.0% during the first quarter. Covestor Ltd now owns 826 shares of the company’s stock worth $30,000 after purchasing an additional 362 shares during the period. Ensign Peak Advisors Inc purchased a new stake in Atlantic Union Bankshares during the third quarter worth about $58,000. Quantbot Technologies LP purchased a new stake in Atlantic Union Bankshares during the second quarter worth about $64,000. Finally, Dark Forest Capital Management LP increased 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 purchasing an additional 1,929 shares during the period. Institutional investors and hedge funds own 77.64% of the company’s stock.

Atlantic Union Bankshares Stock Up 1.2 %

AUB stock opened at $32.02 on Friday. The company’s 50 day moving average price is $29.41 and its 200 day moving average price is $28.65. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.89 and a current ratio of 0.89. Atlantic Union Bankshares Co. has a fifty-two week low of $23.32 and a fifty-two week high of $41.04. The firm has a market capitalization of $2.40 billion, a price-to-earnings ratio of 10.30 and a beta of 1.02.

Atlantic Union Bankshares (NASDAQ:AUB) last released its earnings results on Thursday, October 19th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.06. Atlantic Union Bankshares had a net margin of 21.93% and a return on equity of 10.05%. The firm had revenue of $274.25 million for the quarter, compared to analyst estimates of $181.52 million. During the same period in the prior year, the firm earned $0.74 earnings per share. On average, equities research analysts anticipate 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. Investors of record on Friday, November 10th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.00%. This is a positive change from Atlantic Union Bankshares’s previous quarterly dividend of $0.30. The ex-dividend date is Thursday, November 9th. Atlantic Union Bankshares’s dividend payout ratio is presently 47.06%.

Wall Street Analysts Forecast Growth

Separately, Stephens began coverage on shares of Atlantic Union Bankshares in a research note on Tuesday, September 12th. They set an “overweight” rating and a $36.00 price target on the stock. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Atlantic Union Bankshares has a consensus rating of “Moderate Buy” and an average target price of $35.80.

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.