Public Employees Retirement System of Ohio Acquires 9,863 Shares of Atlantic Union Bankshares Co. $AUB

Public Employees Retirement System of Ohio grew its stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 13.3% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 84,184 shares of the company’s stock after purchasing an additional 9,863 shares during the period. Public Employees Retirement System of Ohio owned about 0.06% of Atlantic Union Bankshares worth $2,633,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Xponance Inc. raised its stake in shares of Atlantic Union Bankshares by 5.8% in the first quarter. Xponance Inc. now owns 6,798 shares of the company’s stock worth $212,000 after purchasing an additional 374 shares during the last quarter. Corebridge Financial Inc. lifted its position in shares of Atlantic Union Bankshares by 0.8% during the 1st quarter. Corebridge Financial Inc. now owns 48,026 shares of the company’s stock worth $1,496,000 after buying an additional 396 shares in the last quarter. CWM LLC lifted its position in shares of 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 buying an additional 523 shares in the last quarter. OneDigital Investment Advisors LLC lifted its position in shares of Atlantic Union Bankshares by 8.7% during the 1st quarter. OneDigital Investment Advisors LLC now owns 6,619 shares of the company’s stock worth $206,000 after buying an additional 527 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its position in shares of Atlantic Union Bankshares by 1.9% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 30,755 shares of the company’s stock worth $958,000 after buying an additional 575 shares in the last quarter. 78.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on AUB shares. National Bankshares set a $46.00 target price on shares of Atlantic Union Bankshares in a research report on Wednesday, September 24th. Raymond James Financial restated a “strong-buy” rating on shares of Atlantic Union Bankshares in a research note on Wednesday, July 30th. TD Cowen assumed coverage on shares of Atlantic Union Bankshares in a research note on Thursday, September 25th. They set a “buy” rating and a $46.00 price target for the company. Piper Sandler decreased their price target on shares of Atlantic Union Bankshares from $46.00 to $45.00 and set an “overweight” rating for the company 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 stock a “market perform” rating in a research note on Monday, August 4th. One equities 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 given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $41.38.

Atlantic Union Bankshares Stock Down 0.4%

Atlantic Union Bankshares stock opened at $35.15 on Thursday. Atlantic Union Bankshares Co. has a 1-year low of $22.85 and a 1-year high of $44.54. The firm has a market capitalization of $5.01 billion, a price-to-earnings ratio of 15.35 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. The firm has a 50 day simple moving average of $34.35 and a 200 day simple moving average of $31.43.

Atlantic Union Bankshares (NASDAQ:AUB) last released its quarterly earnings data on Thursday, July 24th. The company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $369.70 million. During the same period in the previous year, the business earned $0.63 EPS. Atlantic Union Bankshares’s revenue was up 92.0% compared to the same quarter last year. On average, analysts predict that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current year.

Atlantic Union Bankshares Dividend Announcement

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

Insiders Place Their Bets

In other news, Director Frank Russell Ellett purchased 5,000 shares of Atlantic Union Bankshares stock in a transaction dated Thursday, August 7th. The stock was purchased at an average cost of $31.54 per share, for a total transaction of $157,700.00. Following the transaction, the director directly owned 76,606 shares of the company’s stock, valued at approximately $2,416,153.24. This trade represents a 6.98% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 completion of the transaction, the chief executive officer directly owned 270,532 shares in the company, valued at approximately $8,903,208.12. This represents a 2.85% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 18,941 shares of company stock valued at $606,502 over the last 90 days. Company insiders own 0.87% of the company’s stock.

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.