Nisa Investment Advisors LLC Purchases 7,614 Shares of Atlantic Union Bankshares Co. $AUB

Nisa Investment Advisors LLC raised its stake in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 323.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,966 shares of the company’s stock after acquiring an additional 7,614 shares during the period. Nisa Investment Advisors LLC’s holdings in Atlantic Union Bankshares were worth $312,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Curio Wealth LLC bought a new stake in Atlantic Union Bankshares during the 2nd quarter worth $28,000. CWM LLC grew its position in 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 acquiring an additional 523 shares during the last quarter. Fifth Third Bancorp grew its position in 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 acquiring an additional 686 shares during the last quarter. Concord Wealth Partners grew its position in shares of Atlantic Union Bankshares by 304.1% in the 1st quarter. Concord Wealth Partners now owns 2,728 shares of the company’s stock valued at $85,000 after buying an additional 2,053 shares during the last quarter. Finally, Signaturefd LLC grew its position in shares of Atlantic Union Bankshares by 731.9% in the 2nd quarter. Signaturefd LLC now owns 3,577 shares of the company’s stock valued at $112,000 after buying an additional 3,147 shares during the last quarter. Institutional investors own 78.58% of the company’s stock.

Insiders Place Their Bets

In other news, Director Frank Russell Ellett acquired 5,000 shares of Atlantic Union Bankshares stock in a transaction on Thursday, August 7th. The stock was acquired at an average cost of $31.54 per share, with a total value of $157,700.00. Following the completion of the acquisition, the director owned 76,606 shares in the company, valued at approximately $2,416,153.24. This trade represents a 6.98% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders acquired 11,441 shares of company stock worth $359,677 over the last three months. 0.87% of the stock is currently owned by corporate insiders.

Atlantic Union Bankshares Stock Performance

Shares of AUB opened at $32.53 on Monday. 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 company has a market capitalization of $4.64 billion, a price-to-earnings ratio of 14.20 and a beta of 0.87. The stock has a 50 day moving average of $35.01 and a 200 day moving average of $32.39. Atlantic Union Bankshares Co. has a 12 month low of $22.85 and a 12 month high of $44.54.

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

Atlantic Union Bankshares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 4.5%. This is a positive change from Atlantic Union Bankshares’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Friday, November 14th. Atlantic Union Bankshares’s dividend payout ratio is currently 72.73%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Cowen reiterated a “buy” rating on shares of Atlantic Union Bankshares in a research report on Monday, October 27th. TD Cowen decreased their target price on Atlantic Union Bankshares from $46.00 to $44.00 and set a “buy” rating for the company in a research note on Monday, October 27th. Keefe, Bruyette & Woods increased their price target on Atlantic Union Bankshares from $33.00 to $34.00 and gave the stock a “market perform” rating in a report on Monday, August 4th. Piper Sandler cut their price target on Atlantic Union Bankshares from $45.00 to $41.50 and set an “overweight” rating on the stock in a report on Friday, October 24th. Finally, Janney Montgomery Scott initiated coverage on Atlantic Union Bankshares in a report on Wednesday, October 8th. They issued a “buy” rating and a $42.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $40.61.

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.