Atlantic Union Bankshares Co. $AUB Holdings Raised by Truist Financial Corp

Truist Financial Corp grew its position in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 39.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 163,157 shares of the company’s stock after acquiring an additional 46,353 shares during the quarter. Truist Financial Corp owned approximately 0.11% of Atlantic Union Bankshares worth $5,104,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in AUB. Vanguard Group Inc. increased its holdings in shares of Atlantic Union Bankshares by 8.9% in the 1st quarter. Vanguard Group Inc. now owns 11,932,493 shares of the company’s stock valued at $371,578,000 after acquiring an additional 978,793 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Atlantic Union Bankshares by 152.3% during the first quarter. Millennium Management LLC now owns 1,136,526 shares of the company’s stock valued at $35,391,000 after purchasing an additional 686,137 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Atlantic Union Bankshares by 207.5% during 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 during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Atlantic Union Bankshares by 36.0% during the first quarter. Goldman Sachs Group Inc. now owns 2,137,072 shares of the company’s stock valued at $66,548,000 after purchasing an additional 565,564 shares during the last quarter. Finally, Stieven Capital Advisors L.P. bought a new position in shares of Atlantic Union Bankshares during the first quarter valued at approximately $12,923,000. 78.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on AUB shares. Cowen started coverage on Atlantic Union Bankshares in a report on Wednesday, September 24th. They set a “buy” rating for the company. TD Cowen started coverage on Atlantic Union Bankshares in a report on Thursday, September 25th. They set a “buy” rating and a $46.00 target price for the company. National Bankshares set a $46.00 target price on Atlantic Union Bankshares in a report on Wednesday, September 24th. Piper Sandler lowered their target price on Atlantic Union Bankshares from $46.00 to $45.00 and set an “overweight” rating for the company in a report on Friday, July 25th. Finally, Morgan Stanley upped their target price on Atlantic Union Bankshares from $35.00 to $41.00 and gave the company an “underperform” rating in a report on Monday, September 29th. One research 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 assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $41.50.

Insiders Place Their Bets

In related news, CEO John C. Asbury acquired 7,500 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $8,903,208.12. The trade was a 2.85% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frank Russell Ellett acquired 1,441 shares of the business’s stock in a transaction dated Friday, August 8th. The shares were bought at an average price of $31.49 per share, with a total value of $45,377.09. Following the transaction, the director directly owned 78,047 shares in the company, valued at approximately $2,457,700.03. The trade was a 1.88% increase in their position. 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 in the last quarter. Insiders own 1.16% of the company’s stock.

Atlantic Union Bankshares Stock Performance

AUB opened at $35.97 on Wednesday. The company has a market capitalization of $5.13 billion, a price-to-earnings ratio of 15.71 and a beta of 0.87. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.91 and a quick ratio of 0.91. Atlantic Union Bankshares Co. has a 1-year low of $22.85 and a 1-year high of $44.54. The business has a 50 day moving average price of $34.57 and a two-hundred day moving average price of $31.51.

Atlantic Union Bankshares (NASDAQ:AUB) last released 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. The firm had revenue of $377.22 million during the quarter, compared to the consensus estimate of $369.70 million. Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%.The firm’s revenue for the quarter was up 92.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.63 earnings per share. Research analysts predict that Atlantic Union Bankshares Co. will post 3.26 EPS for the current fiscal year.

Atlantic Union Bankshares Announces Dividend

The business also recently disclosed 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 3.8%. The ex-dividend date was Monday, August 4th. Atlantic Union Bankshares’s dividend 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.