State of Alaska Department of Revenue Cuts Stock Holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB)

State of Alaska Department of Revenue decreased its holdings in shares of Atlantic Union Bankshares Co. (NASDAQ:AUBFree Report) by 1.0% during the first quarter, according to its most recent filing with the SEC. The firm owned 45,703 shares of the company’s stock after selling 447 shares during the period. State of Alaska Department of Revenue owned 0.06% of Atlantic Union Bankshares worth $1,613,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Mather Group LLC. purchased a new position in shares of Atlantic Union Bankshares in the 1st quarter worth approximately $27,000. Strs Ohio purchased a new position in shares of Atlantic Union Bankshares in the 4th quarter worth approximately $29,000. TFO Wealth Partners LLC boosted its stake in Atlantic Union Bankshares by 386,100.0% in the 4th quarter. TFO Wealth Partners LLC now owns 3,862 shares of the company’s stock worth $141,000 after purchasing an additional 3,861 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Atlantic Union Bankshares by 194.3% in the 4th 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 in the last quarter. Finally, Jump Financial LLC acquired a new stake in Atlantic Union Bankshares in the 4th quarter worth approximately $219,000. Hedge funds and other institutional investors own 78.58% of the company’s stock.

Atlantic Union Bankshares Stock Up 0.1 %

AUB stock opened at $32.46 on Tuesday. The firm’s fifty day simple moving average is $32.47 and its 200-day simple moving average is $33.62. The company has a market capitalization of $2.91 billion, a P/E ratio of 11.93 and a beta of 0.90. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.90 and a quick ratio of 0.90. Atlantic Union Bankshares Co. has a 12 month low of $26.14 and a 12 month high of $37.86.

Atlantic Union Bankshares (NASDAQ:AUBGet Free Report) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.04). The business had revenue of $288.47 million during 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 last year, the company earned $0.63 earnings per share. As a group, equities research analysts forecast that Atlantic Union Bankshares Co. will post 2.95 earnings per share for the current year.

Atlantic Union Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Friday, May 24th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date of this dividend was Thursday, May 23rd. Atlantic Union Bankshares’s dividend payout ratio (DPR) is presently 47.06%.

Analyst Upgrades and Downgrades

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

Read Our Latest Analysis on AUB

Insider Buying and Selling

In other news, Director Frank Russell Ellett purchased 4,467 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were purchased at an average cost of $30.85 per share, with a total value of $137,806.95. Following the completion of the acquisition, the director now owns 56,801 shares of the company’s stock, valued at approximately $1,752,310.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.28% of the stock is currently owned by insiders.

About Atlantic Union Bankshares

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Atlantic Union Bankshares (NASDAQ:AUB)

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