Principal Financial Group Inc. Has $11.34 Million Stock Holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Principal Financial Group Inc. cut its holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 3.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 436,910 shares of the company’s stock after selling 14,596 shares during the quarter. Principal Financial Group Inc. owned about 0.58% of Atlantic Union Bankshares worth $11,338,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. First Hawaiian Bank grew its position in shares of Atlantic Union Bankshares by 53.3% in the 2nd quarter. First Hawaiian Bank now owns 16,710 shares of the company’s stock valued at $434,000 after purchasing an additional 5,807 shares during the period. Rhumbline Advisers lifted its stake in Atlantic Union Bankshares by 94.9% in the 1st quarter. Rhumbline Advisers now owns 251,991 shares of the company’s stock valued at $8,832,000 after acquiring an additional 122,679 shares in the last quarter. Dark Forest Capital Management LP lifted its stake in Atlantic Union Bankshares by 179.9% in the 1st quarter. Dark Forest Capital Management LP now owns 3,001 shares of the company’s stock valued at $105,000 after acquiring an additional 1,929 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. lifted its stake in Atlantic Union Bankshares by 3.1% in the 2nd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 122,380 shares of the company’s stock valued at $3,176,000 after acquiring an additional 3,675 shares in the last quarter. Finally, First Republic Investment Management Inc. lifted its stake in Atlantic Union Bankshares by 6.5% in the 2nd quarter. First Republic Investment Management Inc. now owns 19,771 shares of the company’s stock valued at $513,000 after acquiring an additional 1,211 shares in the last quarter. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Atlantic Union Bankshares Trading Up 1.3 %

Shares of Atlantic Union Bankshares stock opened at $32.04 on Monday. Atlantic Union Bankshares Co. has a 12-month low of $23.32 and a 12-month high of $41.04. The stock has a market cap of $2.40 billion, a P/E ratio of 11.78 and a beta of 1.02. 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 business’s 50 day moving average is $29.41 and its 200-day moving average is $28.69.

Atlantic Union Bankshares (NASDAQ:AUB) last announced its quarterly earnings data on Thursday, October 19th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.06. Atlantic Union Bankshares had a return on equity of 10.05% and a net margin of 21.93%. The company had revenue of $274.25 million for the quarter, compared to analysts’ expectations of $181.52 million. During the same quarter in the prior year, the business posted $0.74 EPS. Equities research analysts predict that Atlantic Union Bankshares Co. will post 2.93 earnings per share for the current fiscal year.

Atlantic Union Bankshares Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Friday, November 10th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, November 9th. This is a positive change from Atlantic Union Bankshares’s previous quarterly dividend of $0.30. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.00%. Atlantic Union Bankshares’s payout ratio is presently 47.06%.

Analysts Set New Price Targets

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

Atlantic Union Bankshares 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.