Russell Investments Group Ltd. Sells 18,929 Shares of Atlantic Union Bankshares Co. $AUB

Russell Investments Group Ltd. lowered its position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 28.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 46,691 shares of the company’s stock after selling 18,929 shares during the quarter. Russell Investments Group Ltd. owned about 0.05% of Atlantic Union Bankshares worth $1,454,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Atlantic Union Bankshares by 8.9% during the first quarter. Vanguard Group Inc. now owns 11,932,493 shares of the company’s stock valued at $371,578,000 after buying an additional 978,793 shares during the period. Ameriprise Financial Inc. lifted its position in Atlantic Union Bankshares by 62.0% during the fourth quarter. Ameriprise Financial Inc. now owns 2,587,890 shares of the company’s stock valued at $98,029,000 after buying an additional 990,583 shares during the period. The Manufacturers Life Insurance Company lifted its position in Atlantic Union Bankshares by 6.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,723,794 shares of the company’s stock valued at $65,297,000 after buying an additional 103,275 shares during the period. Victory Capital Management Inc. lifted its position in Atlantic Union Bankshares by 4.0% during the first quarter. Victory Capital Management Inc. now owns 1,644,177 shares of the company’s stock valued at $51,200,000 after buying an additional 63,650 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Atlantic Union Bankshares by 8.8% during the first quarter. Bank of New York Mellon Corp now owns 1,171,836 shares of the company’s stock valued at $36,491,000 after buying an additional 94,883 shares during the period. Hedge funds and other institutional investors own 78.58% of the company’s stock.

Insider Transactions at Atlantic Union Bankshares

In other Atlantic Union Bankshares news, CEO John C. Asbury bought 7,500 shares of the firm’s stock in a transaction on Monday, July 28th. The stock was acquired 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 acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Frank Russell Ellett bought 5,000 shares of the firm’s stock in a transaction on Thursday, August 7th. The stock was acquired at an average cost of $31.54 per share, with a total value of $157,700.00. Following the transaction, the director owned 76,606 shares in the company, valued at $2,416,153.24. The trade was a 6.98% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders acquired 18,941 shares of company stock valued at $606,502. 0.87% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Jefferies Financial Group set a $37.00 price objective on Atlantic Union Bankshares and gave the company a “buy” rating in a research report on Wednesday, May 21st. Keefe, Bruyette & Woods lifted their price target on Atlantic Union Bankshares from $33.00 to $34.00 and gave the stock a “market perform” rating in a research report on Monday, August 4th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Atlantic Union Bankshares in a research report on Wednesday, July 30th. Finally, Piper Sandler lowered their price target on 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. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Atlantic Union Bankshares presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.33.

Atlantic Union Bankshares Price Performance

NASDAQ AUB opened at $35.70 on Thursday. Atlantic Union Bankshares Co. has a one year low of $22.85 and a one year high of $44.54. The stock has a 50-day moving average of $32.77 and a 200 day moving average of $31.38. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market capitalization of $5.09 billion, a price-to-earnings ratio of 15.59 and a beta of 0.88.

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

Atlantic Union Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 4th were given a $0.34 dividend. The ex-dividend date of this dividend was Monday, August 4th. This represents a $1.36 dividend on an annualized basis and a yield of 3.8%. Atlantic Union Bankshares’s payout ratio is 66.02%.

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.