Spire Wealth Management Makes New $79,000 Investment in Atlantic Union Bankshares Co. $AUB

Spire Wealth Management bought a new position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 2,519 shares of the company’s stock, valued at approximately $79,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Curio Wealth LLC acquired a new position in Atlantic Union Bankshares during the 2nd quarter worth $28,000. CWM LLC lifted 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 lifted 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 lifted its position in Atlantic Union Bankshares by 304.1% during the 1st quarter. Concord Wealth Partners now owns 2,728 shares of the company’s stock worth $85,000 after acquiring an additional 2,053 shares during the last quarter. Finally, Bessemer Group Inc. lifted its position in Atlantic Union Bankshares by 577.9% during the 2nd quarter. Bessemer Group Inc. now owns 2,759 shares of the company’s stock worth $87,000 after acquiring an additional 2,352 shares during the last quarter. Institutional investors and hedge funds own 78.58% of the company’s stock.

Atlantic Union Bankshares Stock Performance

Atlantic Union Bankshares stock opened at $32.83 on Thursday. The firm has a market capitalization of $4.68 billion, a P/E ratio of 14.34 and a beta of 0.87. The stock has a fifty day moving average price of $34.86 and a two-hundred day moving average price of $32.50. Atlantic Union Bankshares Co. has a 52-week low of $22.85 and a 52-week high of $44.54. 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 (NASDAQ:AUB) last posted its 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 return on equity of 8.50% and a net margin of 15.53%.The firm had revenue of $319.21 million during the quarter, compared to the consensus estimate of $377.92 million. During the same period in the previous year, the company posted $0.83 EPS. The firm’s revenue for the quarter was up 69.8% compared to the same quarter last year. As a group, analysts anticipate that Atlantic Union Bankshares Co. will post 3.26 EPS for the current fiscal year.

Atlantic Union Bankshares Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.5%. This is an increase from Atlantic Union Bankshares’s previous quarterly dividend of $0.34. The ex-dividend date is Friday, November 14th. Atlantic Union Bankshares’s dividend payout ratio is presently 79.14%.

Insider Activity at Atlantic Union Bankshares

In other Atlantic Union Bankshares news, Director Frank Russell Ellett bought 1,441 shares of Atlantic Union Bankshares stock in a transaction dated Friday, August 8th. The shares were acquired at an average cost of $31.49 per share, with a total value of $45,377.09. Following the acquisition, the director directly owned 78,047 shares of the company’s stock, valued at $2,457,700.03. The trade was a 1.88% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.87% of the stock is owned by insiders.

Analyst Ratings Changes

AUB has been the subject of a number of research analyst reports. Janney Montgomery Scott initiated coverage on shares of Atlantic Union Bankshares in a research report on Wednesday, October 8th. They set a “buy” rating and a $42.00 target price for the company. Keefe, Bruyette & Woods upped their price objective on shares of Atlantic Union Bankshares from $33.00 to $34.00 and gave the company a “market perform” rating in a research report on Monday, August 4th. Raymond James Financial reissued a “strong-buy” rating on shares of Atlantic Union Bankshares in a research report on Friday, October 24th. Cowen restated a “buy” rating on shares of Atlantic Union Bankshares in a research note on Monday, October 27th. Finally, Morgan Stanley raised their price objective on Atlantic Union Bankshares from $35.00 to $41.00 and gave the stock an “underperform” rating in a research report on Monday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Atlantic Union Bankshares currently has a consensus rating of “Moderate Buy” and a consensus target price 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.