Wealth Enhancement Advisory Services LLC Boosts Stock Position in Atlantic Union Bankshares Co. $AUB

Wealth Enhancement Advisory Services LLC grew its stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 174.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 52,478 shares of the company’s stock after acquiring an additional 33,348 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Atlantic Union Bankshares were worth $1,760,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in AUB. Wellington Management Group LLP purchased a new stake in shares of Atlantic Union Bankshares in the fourth quarter worth $2,580,000. GAMMA Investing LLC raised its position in shares of Atlantic Union Bankshares by 2,412.4% in the first quarter. GAMMA Investing LLC now owns 33,289 shares of the company’s stock worth $1,069,000 after buying an additional 31,964 shares in the last quarter. NBC Securities Inc. purchased a new stake in shares of Atlantic Union Bankshares in the first quarter worth $25,000. Heritage Family Offices LLP raised its position in shares of Atlantic Union Bankshares by 11.0% in the first quarter. Heritage Family Offices LLP now owns 8,194 shares of the company’s stock worth $255,000 after buying an additional 812 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Atlantic Union Bankshares in the first quarter worth $310,000. Hedge funds and other institutional investors own 78.58% of the company’s stock.

Atlantic Union Bankshares Stock Down 1.2%

Shares of NASDAQ:AUB opened at $35.56 on Tuesday. The stock’s 50-day moving average price is $34.28 and its 200-day moving average price is $31.38. Atlantic Union Bankshares Co. has a 12-month low of $22.85 and a 12-month high of $44.54. The stock has a market capitalization of $5.07 billion, a P/E ratio of 15.53 and a beta of 0.90. 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 (NASDAQ:AUB) last announced its quarterly earnings data on Thursday, July 24th. The company reported $0.95 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $377.22 million for the quarter, compared to analysts’ expectations of $369.70 million. During the same period last year, the firm earned $0.63 earnings per share. The company’s revenue for the quarter was up 92.0% compared to the same quarter last year. On average, equities analysts anticipate that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current year.

Atlantic Union Bankshares Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Cowen assumed coverage on Atlantic Union Bankshares in a research report on Wednesday, September 24th. They issued a “buy” rating on the stock. TD Cowen assumed coverage on Atlantic Union Bankshares in a research report on Thursday, September 25th. They issued a “buy” rating and a $46.00 price objective on the stock. Morgan Stanley increased their price objective on Atlantic Union Bankshares from $35.00 to $41.00 and gave the stock an “underperform” rating in a research report on Monday. Piper Sandler lowered their price target on Atlantic Union Bankshares from $46.00 to $45.00 and set an “overweight” rating on the stock in a research report on Friday, July 25th. Finally, National Bankshares set a $46.00 price target on Atlantic Union Bankshares in a research report on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Atlantic Union Bankshares presently has a consensus rating of “Moderate Buy” and an average price target of $41.38.

Insider Activity

In other Atlantic Union Bankshares news, Director Frank Russell Ellett bought 1,441 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The shares were bought at an average cost of $31.49 per share, with a total value of $45,377.09. Following the completion of the purchase, the director directly owned 78,047 shares of the company’s stock, valued at $2,457,700.03. This trade represents a 1.88% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO John C. Asbury bought 7,500 shares of the business’s stock in a transaction that occurred on Monday, July 28th. The stock was acquired at an average cost of $32.91 per share, for a total transaction of $246,825.00. Following the completion of the purchase, the chief executive officer directly owned 270,532 shares of the company’s stock, valued at $8,903,208.12. The trade was a 2.85% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 18,941 shares of company stock worth $606,502 over the last three months. 0.87% of the stock is owned by insiders.

Atlantic Union Bankshares 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.