Atlantic Union Bankshares Co. (NASDAQ:AUB) Holdings Lifted by Truist Financial Corp

Truist Financial Corp grew its holdings in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 1.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 117,398 shares of the company’s stock after purchasing an additional 1,700 shares during the quarter. Truist Financial Corp’s holdings in Atlantic Union Bankshares were worth $4,290,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Strs Ohio acquired a new position in Atlantic Union Bankshares during the 4th quarter valued at about $29,000. Covestor Ltd raised its holdings in Atlantic Union Bankshares by 95.0% during the third quarter. Covestor Ltd now owns 1,053 shares of the company’s stock worth $30,000 after purchasing an additional 513 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in Atlantic Union Bankshares by 194.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,120 shares of the company’s stock worth $151,000 after purchasing an additional 2,720 shares during the period. Emerald Mutual Fund Advisers Trust acquired a new stake in Atlantic Union Bankshares in the third quarter worth approximately $152,000. Finally, Beacon Investment Advisors LLC bought a new position in Atlantic Union Bankshares during the 3rd quarter valued at $210,000. 78.58% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Donald R. Kimble bought 7,000 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were acquired at an average cost of $35.13 per share, with a total value of $245,910.00. Following the completion of the transaction, the director now directly owns 7,582 shares in the company, valued at approximately $266,355.66. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.28% of the company’s stock.

Atlantic Union Bankshares Stock Performance

AUB opened at $33.48 on Monday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.15. The firm has a market cap of $3.01 billion, a PE ratio of 11.27 and a beta of 0.94. The business has a fifty day simple moving average of $33.50 and a 200-day simple moving average of $33.30. Atlantic Union Bankshares Co. has a fifty-two week low of $23.32 and a fifty-two week high of $37.86.

Atlantic Union Bankshares (NASDAQ:AUB) last announced its earnings results on Tuesday, April 23rd. The company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.04). The company had revenue of $288.47 million for the quarter, compared to analysts’ expectations of $178.82 million. Atlantic Union Bankshares had a net margin of 19.51% and a return on equity of 9.47%. During the same period in the prior year, the company earned $0.63 earnings per share. As a group, equities analysts predict that Atlantic Union Bankshares Co. will post 3.1 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AUB. Keefe, Bruyette & Woods cut their price objective on Atlantic Union Bankshares from $36.00 to $35.00 and set a “market perform” rating for the company in a report on Wednesday, April 24th. Piper Sandler cut their price target on shares of Atlantic Union Bankshares from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Monday, April 29th. Finally, Stephens lowered their price objective on shares of Atlantic Union Bankshares from $43.00 to $40.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 24th.

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