LPL Financial LLC Boosts Stake in Atlantic Union Bankshares Co. $AUB

LPL Financial LLC boosted its stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 5.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 92,014 shares of the company’s stock after buying an additional 5,155 shares during the period. LPL Financial LLC owned 0.10% of Atlantic Union Bankshares worth $2,865,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. NBC Securities Inc. purchased a new stake in shares of Atlantic Union Bankshares during the 1st quarter valued at $25,000. CWM LLC lifted its position in Atlantic Union Bankshares by 99.4% during the 1st quarter. CWM LLC now owns 1,049 shares of the company’s stock worth $33,000 after acquiring an additional 523 shares during the period. Investment Management Corp VA ADV acquired a new stake in Atlantic Union Bankshares during the 4th quarter worth about $72,000. Concord Wealth Partners lifted its position in Atlantic Union Bankshares by 304.1% during the 1st quarter. Concord Wealth Partners now owns 2,728 shares of the company’s stock worth $85,000 after acquiring an additional 2,053 shares during the period. Finally, ORG Wealth Partners LLC acquired a new stake in Atlantic Union Bankshares during the 1st quarter worth about $100,000. Hedge funds and other institutional investors own 78.58% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Jefferies Financial Group set a $37.00 price target on Atlantic Union Bankshares and gave the stock a “buy” rating in a research report on Wednesday, May 21st. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Atlantic Union Bankshares in a research note on Wednesday, July 30th. Piper Sandler decreased their price target on shares of Atlantic Union Bankshares from $46.00 to $45.00 and set an “overweight” rating on the stock in a research note on Friday, July 25th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Atlantic Union Bankshares from $33.00 to $34.00 and gave the company a “market perform” rating in a research note on Monday, August 4th. Two investment 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.33.

Atlantic Union Bankshares Trading Down 1.8%

Shares of Atlantic Union Bankshares stock opened at $33.58 on Monday. The stock has a market cap of $4.79 billion, a P/E ratio of 14.66 and a beta of 0.88. The stock’s 50 day simple moving average is $32.22 and its 200-day simple moving average is $31.50. Atlantic Union Bankshares Co. has a 1-year low of $22.85 and a 1-year high of $44.54. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.91 and a quick ratio of 0.91.

Atlantic Union Bankshares (NASDAQ:AUB) last released its quarterly earnings results on Thursday, July 24th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.80 by $0.15. The firm had revenue of $377.22 million for the quarter, compared to analyst estimates of $369.70 million. Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.50%. The business’s revenue for the quarter was up 92.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.63 EPS. Analysts predict that Atlantic Union Bankshares Co. will post 3.26 EPS for the current fiscal year.

Atlantic Union Bankshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, August 4th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Monday, August 4th. Atlantic Union Bankshares’s payout ratio is presently 66.02%.

Insider Activity at Atlantic Union Bankshares

In other news, CEO John C. Asbury purchased 7,500 shares of Atlantic Union Bankshares stock in a transaction dated Monday, July 28th. The shares were purchased at an average price of $32.91 per share, with a total value of $246,825.00. Following the transaction, the chief executive officer owned 270,532 shares in the company, valued at $8,903,208.12. This represents a 2.85% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frank Russell Ellett purchased 1,441 shares of Atlantic Union Bankshares stock in a transaction dated Friday, August 8th. The shares were purchased at an average cost of $31.49 per share, for a total transaction of $45,377.09. Following the transaction, the director owned 78,047 shares in the company, valued at approximately $2,457,700.03. This trade represents a 1.88% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 18,941 shares of company stock worth $606,502. Corporate insiders own 0.87% of the company’s stock.

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.