Nuveen LLC Takes Position in Atlantic Union Bankshares Co. $AUB

Nuveen LLC purchased a new stake in Atlantic Union Bankshares Co. (NASDAQ:AUB) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 363,386 shares of the company’s stock, valued at approximately $11,316,000. Nuveen LLC owned 0.40% of Atlantic Union Bankshares as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. North Reef Capital Management LP acquired a new position in shares of Atlantic Union Bankshares in the fourth quarter valued at approximately $78,942,000. Ameriprise Financial Inc. grew its holdings in shares of Atlantic Union Bankshares by 62.0% in the fourth quarter. Ameriprise Financial Inc. now owns 2,587,890 shares of the company’s stock valued at $98,029,000 after purchasing an additional 990,583 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Atlantic Union Bankshares by 8.9% in the first quarter. Vanguard Group Inc. now owns 11,932,493 shares of the company’s stock valued at $371,578,000 after purchasing an additional 978,793 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Atlantic Union Bankshares by 207.5% in the first quarter. Invesco Ltd. now owns 1,016,402 shares of the company’s stock valued at $31,651,000 after purchasing an additional 685,832 shares in the last quarter. Finally, Soros Fund Management LLC acquired a new position in shares of Atlantic Union Bankshares in the fourth quarter valued at approximately $21,813,000. 78.58% of the stock is owned by hedge funds and other institutional investors.

Atlantic Union Bankshares Stock Up 5.9%

Shares of NASDAQ:AUB opened at $35.2870 on Friday. The company has a market capitalization of $5.03 billion, a PE ratio of 15.41 and a beta of 0.88. The company has a current ratio of 0.91, a quick 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 50 day simple moving average of $32.46 and a 200-day simple moving average of $31.45.

Atlantic Union Bankshares (NASDAQ:AUB) last issued its quarterly earnings data 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. Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.50%. The business had revenue of $377.22 million during the quarter, compared to the consensus estimate of $369.70 million. During the same quarter in the previous year, the firm earned $0.63 EPS. The company’s revenue was up 92.0% compared to the same quarter last year. On average, equities analysts predict that Atlantic Union Bankshares Co. will post 3.26 EPS for the current fiscal year.

Atlantic Union Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 4th were given a $0.34 dividend. The ex-dividend date was Monday, August 4th. This represents a $1.36 annualized dividend and a yield of 3.9%. Atlantic Union Bankshares’s dividend payout ratio is 66.02%.

Insider Buying and Selling at Atlantic Union Bankshares

In other news, CEO John C. Asbury acquired 7,500 shares of the business’s stock in a transaction on Monday, July 28th. The stock was bought at an average price of $32.91 per share, for a total transaction 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 document filed with the SEC, which is accessible through the SEC website. Also, Director Frank Russell Ellett acquired 1,441 shares of the business’s stock in a transaction on Friday, August 8th. The shares were purchased at an average price of $31.49 per share, with a total value of $45,377.09. Following the transaction, the director owned 78,047 shares in the company, valued at $2,457,700.03. The trade was a 1.88% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 18,941 shares of company stock valued at $606,502. 1.16% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AUB. Raymond James Financial restated a “strong-buy” rating on shares of Atlantic Union Bankshares in a report on Wednesday, July 30th. Piper Sandler dropped their price objective on shares of Atlantic Union Bankshares from $46.00 to $45.00 and set an “overweight” rating for the company in a report on Friday, July 25th. Jefferies Financial Group set a $37.00 price objective on shares of Atlantic Union Bankshares and gave the company a “buy” rating in a report on Wednesday, May 21st. Finally, Keefe, Bruyette & Woods lifted their price objective 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, August 4th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Atlantic Union Bankshares currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.33.

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.