Y Intercept Hong Kong Ltd Has $943,000 Stake in Atlantic Union Bankshares Co. $AUB

Y Intercept Hong Kong Ltd lowered its stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 22.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,143 shares of the company’s stock after selling 8,663 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Atlantic Union Bankshares were worth $943,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Amalgamated Bank grew its holdings in Atlantic Union Bankshares by 30.7% during the 1st quarter. Amalgamated Bank now owns 34,400 shares of the company’s stock worth $1,071,000 after acquiring an additional 8,073 shares during the last quarter. New York State Teachers Retirement System raised its stake in Atlantic Union Bankshares by 38.3% during the 1st quarter. New York State Teachers Retirement System now owns 29,460 shares of the company’s stock worth $917,000 after buying an additional 8,160 shares during the period. Teacher Retirement System of Texas acquired a new position in Atlantic Union Bankshares during the 1st quarter worth approximately $582,000. Principal Financial Group Inc. increased its holdings in Atlantic Union Bankshares by 49.1% during the 1st quarter. Principal Financial Group Inc. now owns 649,264 shares of the company’s stock worth $20,218,000 after purchasing an additional 213,884 shares in the last quarter. Finally, OneDigital Investment Advisors LLC increased its holdings in 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 purchasing an additional 527 shares in the last quarter. Institutional investors and hedge funds own 78.58% of the company’s stock.

Analyst Ratings Changes

AUB has been the subject of several recent analyst reports. 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. Keefe, Bruyette & Woods increased their price objective on Atlantic Union Bankshares from $33.00 to $34.00 and gave the stock a “market perform” rating in a research report on Monday, August 4th. Cowen reaffirmed a “buy” rating on shares of Atlantic Union Bankshares in a research note on Monday, October 27th. Piper Sandler dropped their price target on Atlantic Union Bankshares from $45.00 to $41.50 and set an “overweight” rating for the company in a research note on Friday, October 24th. Finally, TD Cowen decreased their price objective on Atlantic Union Bankshares from $46.00 to $44.00 and set a “buy” rating on the stock in a report on Monday, October 27th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $40.61.

Atlantic Union Bankshares Price Performance

NASDAQ AUB opened at $32.38 on Wednesday. Atlantic Union Bankshares Co. has a one year low of $22.85 and a one year high of $44.54. The stock has a 50-day moving average of $34.92 and a 200 day moving average of $32.50. The company has a market capitalization of $4.61 billion, a price-to-earnings ratio of 14.14 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 (NASDAQ:AUB) last released its quarterly earnings results on Thursday, October 23rd. The company reported $0.84 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.02). Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.50%. The firm had revenue of $319.21 million for the quarter, compared to the consensus estimate of $377.92 million. During the same period in the previous year, the company earned $0.83 earnings per share. Atlantic Union Bankshares’s quarterly revenue was up 69.8% compared to the same quarter last year. On average, sell-side analysts forecast that Atlantic Union Bankshares Co. will post 3.26 EPS for the current year.

Atlantic Union Bankshares Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be given a $0.37 dividend. This is an increase from Atlantic Union Bankshares’s previous quarterly dividend of $0.34. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date is Friday, November 14th. Atlantic Union Bankshares’s dividend payout ratio (DPR) is presently 79.14%.

Insider Activity

In related news, Director Frank Russell Ellett purchased 1,441 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The stock was bought at an average price of $31.49 per share, for a total transaction of $45,377.09. Following the completion of the transaction, the director 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 purchase was disclosed in a filing with the SEC, which is available at the SEC website. 0.87% of the stock is owned by company insiders.

Atlantic Union Bankshares Company 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.