Arizona State Retirement System Cuts Holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Arizona State Retirement System reduced its position in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 1.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 20,967 shares of the company’s stock after selling 386 shares during the period. Arizona State Retirement System’s holdings in Atlantic Union Bankshares were worth $766,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in AUB. Trust Point Inc. purchased a new position in Atlantic Union Bankshares in the fourth quarter valued at about $685,000. AlphaMark Advisors LLC acquired a new stake in shares of Atlantic Union Bankshares during the fourth quarter valued at about $307,000. Fort Washington Investment Advisors Inc. OH grew its stake in shares of Atlantic Union Bankshares by 3.3% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 517,351 shares of the company’s stock valued at $18,904,000 after acquiring an additional 16,451 shares in the last quarter. Wesbanco Bank Inc. grew its stake in shares of Atlantic Union Bankshares by 30.4% during the third quarter. Wesbanco Bank Inc. now owns 57,073 shares of the company’s stock valued at $1,643,000 after acquiring an additional 13,310 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Atlantic Union Bankshares by 2.5% during the third quarter. American Century Companies Inc. now owns 73,942 shares of the company’s stock valued at $2,128,000 after acquiring an additional 1,818 shares in the last quarter. 78.58% of the stock is owned by hedge funds and other institutional investors.

Atlantic Union Bankshares Stock Up 1.3 %

Shares of Atlantic Union Bankshares stock opened at $32.23 on Friday. The business has a 50-day moving average of $33.65 and a 200-day moving average of $32.98. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market capitalization of $2.43 billion, a PE ratio of 12.69 and a beta of 0.94. Atlantic Union Bankshares Co. has a 1-year low of $23.32 and a 1-year high of $37.86.

Atlantic Union Bankshares (NASDAQ:AUB) last posted its quarterly earnings results on Tuesday, January 23rd. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.03. The business had revenue of $289.46 million during the quarter, compared to the consensus estimate of $179.72 million. Atlantic Union Bankshares had a return on equity of 9.51% and a net margin of 19.31%. During the same period last year, the firm earned $0.90 earnings per share. As a group, equities analysts forecast that Atlantic Union Bankshares Co. will post 3.24 EPS for the current fiscal year.

Atlantic Union Bankshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were paid a $0.32 dividend. The ex-dividend date was Thursday, February 8th. This represents a $1.28 dividend on an annualized basis and a yield of 3.97%. Atlantic Union Bankshares’s dividend payout ratio (DPR) is 50.39%.

Insider Buying and Selling

In other news, Director Donald R. Kimble purchased 7,000 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was acquired at an average cost of $35.13 per share, for a total transaction of $245,910.00. Following the completion of the purchase, the director now owns 7,582 shares of the company’s stock, valued at $266,355.66. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Raymond James raised their target price on Atlantic Union Bankshares from $34.00 to $39.00 and gave the company an “outperform” rating in a research note on Friday, January 5th.

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, time deposit, and money market accounts; certificates of deposit; and other depository services.