Zurcher Kantonalbank Zurich Cantonalbank Boosts Position in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 21.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,213 shares of the company’s stock after acquiring an additional 5,156 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Atlantic Union Bankshares were worth $910,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in AUB. HB Wealth Management LLC bought a new position in shares of Atlantic Union Bankshares in the 1st quarter worth approximately $411,000. Cetera Investment Advisers raised its holdings in Atlantic Union Bankshares by 16.8% in the first quarter. Cetera Investment Advisers now owns 17,091 shares of the company’s stock worth $532,000 after purchasing an additional 2,464 shares in the last quarter. 1492 Capital Management LLC purchased a new position in Atlantic Union Bankshares during the first quarter valued at $243,000. Homestead Advisers Corp boosted its holdings in shares of Atlantic Union Bankshares by 15.2% during the 1st quarter. Homestead Advisers Corp now owns 149,292 shares of the company’s stock valued at $4,649,000 after buying an additional 19,700 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Atlantic Union Bankshares during the 1st quarter valued at $2,479,000. Institutional investors own 78.58% of the company’s stock.

Atlantic Union Bankshares Price Performance

Shares of NASDAQ AUB opened at $31.63 on Wednesday. The company has a 50 day moving average of $31.78 and a 200 day moving average of $31.79. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.13. Atlantic Union Bankshares Co. has a twelve month low of $22.85 and a twelve month high of $44.54. The firm has a market cap of $4.51 billion, a P/E ratio of 13.81 and a beta of 0.88.

Atlantic Union Bankshares (NASDAQ:AUB) last posted its quarterly earnings results on Thursday, July 24th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.15. The firm had revenue of $377.22 million during the quarter, compared to analysts’ expectations of $369.70 million. Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%. The company’s revenue was up 92.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.63 earnings per share. As a group, research analysts expect that Atlantic Union Bankshares Co. will post 3.26 EPS for the current fiscal year.

Atlantic Union Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, August 4th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Monday, August 4th. Atlantic Union Bankshares’s dividend payout ratio (DPR) is presently 66.02%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on AUB shares. Piper Sandler lowered their price target on shares of Atlantic Union Bankshares from $46.00 to $45.00 and set an “overweight” rating for the company in a research report on Friday, July 25th. Keefe, Bruyette & Woods lifted their target price on shares of Atlantic Union Bankshares from $33.00 to $34.00 and gave the company a “market perform” rating in a report on Monday. Morgan Stanley started coverage on Atlantic Union Bankshares in a research note on Wednesday, April 9th. They issued an “equal weight” rating and a $32.00 price target on the stock. Raymond James Financial reiterated a “strong-buy” rating on shares of Atlantic Union Bankshares in a research note on Wednesday, July 30th. Finally, Jefferies Financial Group set a $37.00 target price on Atlantic Union Bankshares and gave the stock a “buy” rating in a report on Wednesday, May 21st. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Atlantic Union Bankshares currently has an average rating of “Moderate Buy” and a consensus target price of $38.33.

Insider Activity

In related news, CEO John C. Asbury acquired 7,500 shares of the firm’s stock in a transaction dated Monday, July 28th. The stock was purchased at an average cost of $32.91 per share, with a total value of $246,825.00. Following the completion of the acquisition, the chief executive officer directly owned 270,532 shares of the company’s stock, valued at approximately $8,903,208.12. This trade represents a 2.85% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.87% of the stock is currently owned by insiders.

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.