GAMMA Investing LLC Has $124,000 Position in Atlantic Union Bankshares Co. $AUB

GAMMA Investing LLC lifted its stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 270.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,962 shares of the company’s stock after acquiring an additional 2,893 shares during the period. GAMMA Investing LLC’s holdings in Atlantic Union Bankshares were worth $124,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of AUB. Bank of New York Mellon Corp raised its holdings 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 worth $36,491,000 after buying an additional 94,883 shares during the last quarter. OneDigital Investment Advisors LLC raised its holdings in Atlantic Union Bankshares by 8.7% during the first quarter. OneDigital Investment Advisors LLC now owns 6,619 shares of the company’s stock worth $206,000 after buying an additional 527 shares during the last quarter. Amalgamated Bank raised its holdings in Atlantic Union Bankshares by 30.7% during the first quarter. Amalgamated Bank now owns 34,400 shares of the company’s stock worth $1,071,000 after buying an additional 8,073 shares during the last quarter. DAVENPORT & Co LLC raised its holdings in Atlantic Union Bankshares by 25.6% during the first quarter. DAVENPORT & Co LLC now owns 558,451 shares of the company’s stock worth $17,390,000 after buying an additional 113,760 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in Atlantic Union Bankshares during the first quarter worth $310,000. Institutional investors and hedge funds own 78.58% of the company’s stock.

Atlantic Union Bankshares Price Performance

AUB opened at $35.25 on Wednesday. The firm has a market cap of $5.02 billion, a P/E ratio of 15.39 and a beta of 0.90. The firm has a 50-day moving average of $34.32 and a 200 day moving average of $31.40. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.91 and a current ratio of 0.91. Atlantic Union Bankshares Co. has a fifty-two week low of $22.85 and a fifty-two week high of $44.54.

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, beating the consensus estimate of $0.80 by $0.15. The company had revenue of $377.22 million during 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 firm’s revenue for the quarter was up 92.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.63 earnings per share. On average, research analysts expect that Atlantic Union Bankshares Co. will post 3.26 EPS for the current year.

Atlantic Union Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 4th were given a dividend of $0.34 per share. 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 presently 66.02%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Keefe, Bruyette & Woods upped their price objective on shares of Atlantic Union Bankshares from $33.00 to $34.00 and gave the stock a “market perform” rating in a report on Monday, August 4th. National Bankshares set a $46.00 price objective on shares of Atlantic Union Bankshares in a report on Wednesday, September 24th. TD Cowen assumed coverage on shares of Atlantic Union Bankshares in a report on Thursday, September 25th. They set a “buy” rating and a $46.00 price objective on the stock. Raymond James Financial restated a “strong-buy” rating on shares of Atlantic Union Bankshares in a report on Wednesday, July 30th. Finally, Piper Sandler lowered their price objective on shares of Atlantic Union Bankshares from $46.00 to $45.00 and set an “overweight” rating on the stock in a report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $41.38.

Insider Activity

In related news, Director Frank Russell Ellett purchased 5,000 shares of Atlantic Union Bankshares stock in a transaction that occurred on Thursday, August 7th. The stock was bought at an average price of $31.54 per share, for a total transaction of $157,700.00. Following the completion of the transaction, the director owned 76,606 shares in the company, valued at $2,416,153.24. This represents a 6.98% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO John C. Asbury purchased 7,500 shares of Atlantic Union Bankshares stock in a transaction that occurred on Monday, July 28th. The shares were bought 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 of the company’s stock, valued at $8,903,208.12. This trade represents a 2.85% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 18,941 shares of company stock valued at $606,502. 0.87% of the stock is owned by company 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.