Envestnet Portfolio Solutions Inc. Reduces Stock Position in Atlantic Union Bankshares Co. $AUB

Envestnet Portfolio Solutions Inc. reduced its position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 15.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,070 shares of the company’s stock after selling 1,302 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Atlantic Union Bankshares were worth $221,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. CWM LLC lifted its stake in shares of Atlantic Union Bankshares by 99.4% during the first quarter. CWM LLC now owns 1,049 shares of the company’s stock valued at $33,000 after buying an additional 523 shares during the period. Fifth Third Bancorp lifted its stake in shares of Atlantic Union Bankshares by 50.2% during the 2nd quarter. Fifth Third Bancorp now owns 2,052 shares of the company’s stock worth $64,000 after purchasing an additional 686 shares during the period. Concord Wealth Partners boosted its holdings in shares of Atlantic Union Bankshares by 304.1% during the first quarter. Concord Wealth Partners now owns 2,728 shares of the company’s stock worth $85,000 after purchasing an additional 2,053 shares during the last quarter. Signaturefd LLC grew its position in shares of Atlantic Union Bankshares by 731.9% in the second quarter. Signaturefd LLC now owns 3,577 shares of the company’s stock valued at $112,000 after purchasing an additional 3,147 shares during the period. Finally, GAMMA Investing LLC increased its stake in Atlantic Union Bankshares by 270.6% in the second quarter. GAMMA Investing LLC now owns 3,962 shares of the company’s stock valued at $124,000 after purchasing an additional 2,893 shares during the last quarter. Institutional investors and hedge funds own 78.58% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on AUB. Janney Montgomery Scott began coverage on Atlantic Union Bankshares in a research note on Wednesday, October 8th. They issued a “buy” rating and a $42.00 price target on the stock. Piper Sandler cut their price objective on shares of Atlantic Union Bankshares from $45.00 to $41.50 and set an “overweight” rating on the stock in a report on Friday. National Bankshares set a $46.00 target price on shares of Atlantic Union Bankshares in a report on Wednesday, September 24th. Cowen assumed coverage on shares of Atlantic Union Bankshares in a research note on Wednesday, September 24th. They set a “buy” rating on the stock. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Atlantic Union Bankshares from $33.00 to $34.00 and gave the company a “market perform” rating in a report on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Atlantic Union Bankshares presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.83.

Atlantic Union Bankshares Trading Up 3.5%

NASDAQ AUB opened at $34.10 on Friday. The firm has a market capitalization of $4.86 billion, a price-to-earnings ratio of 14.89 and a beta of 0.87. 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 one year low of $22.85 and a one year high of $44.54. The company’s 50 day moving average price is $35.11 and its 200 day moving average price is $31.95.

Atlantic Union Bankshares (NASDAQ:AUB) last released its quarterly earnings data on Thursday, October 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.02). Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%.The business had revenue of $319.21 million during the quarter, compared to analyst estimates of $377.92 million. During the same period in the previous year, the company earned $0.83 EPS. Atlantic Union Bankshares’s revenue was up 69.8% on a year-over-year basis. On average, sell-side analysts predict that Atlantic Union Bankshares Co. will post 3.26 EPS for the current year.

Insider Transactions at Atlantic Union Bankshares

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 shares were purchased 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 of the company’s stock, valued at approximately $2,416,153.24. The trade was a 6.98% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO John C. Asbury acquired 7,500 shares of the stock in a transaction on Monday, July 28th. The stock was purchased at an average cost of $32.91 per share, with a total value of $246,825.00. Following the transaction, the chief executive officer directly owned 270,532 shares of the company’s stock, valued at $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. In the last 90 days, insiders have acquired 18,941 shares of company stock worth $606,502. 0.87% of the stock is currently owned by insiders.

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.