Bank of Montreal Can Boosts Stake in Atlantic Union Bankshares Co. $AUB

Bank of Montreal Can increased its stake in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 10.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 22,606 shares of the company’s stock after purchasing an additional 2,194 shares during the quarter. Bank of Montreal Can’s holdings in Atlantic Union Bankshares were worth $707,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Entropy Technologies LP raised its stake in shares of Atlantic Union Bankshares by 156.6% during the 1st quarter. Entropy Technologies LP now owns 14,879 shares of the company’s stock worth $463,000 after buying an additional 9,080 shares during the period. Truist Financial Corp increased its holdings in shares of Atlantic Union Bankshares by 39.7% in the second quarter. Truist Financial Corp now owns 163,157 shares of the company’s stock valued at $5,104,000 after purchasing an additional 46,353 shares during the last quarter. Systematic Financial Management LP increased its holdings in shares of Atlantic Union Bankshares by 3.7% during the 1st quarter. Systematic Financial Management LP now owns 543,940 shares of the company’s stock worth $16,938,000 after buying an additional 19,475 shares during the last quarter. LPL Financial LLC lifted its position in Atlantic Union Bankshares by 5.9% in the first quarter. LPL Financial LLC now owns 92,014 shares of the company’s stock valued at $2,865,000 after buying an additional 5,155 shares during the last quarter. Finally, Jump Financial LLC acquired a new stake in Atlantic Union Bankshares in the 1st quarter valued at approximately $2,086,000. Institutional investors own 78.58% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on AUB shares. Raymond James Financial reiterated a “strong-buy” rating on shares of Atlantic Union Bankshares in a report on Friday, October 24th. National Bankshares set a $46.00 target price on shares of Atlantic Union Bankshares in a research note on Wednesday, September 24th. Piper Sandler reduced their price target on Atlantic Union Bankshares from $45.00 to $41.50 and set an “overweight” rating for the company in a report on Friday, October 24th. Morgan Stanley boosted their price target on Atlantic Union Bankshares from $35.00 to $41.00 and gave the stock an “underperform” rating in a research note on Monday, September 29th. Finally, Keefe, Bruyette & Woods increased 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 research report on Monday, August 4th. One 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.61.

Atlantic Union Bankshares Price Performance

Shares of AUB stock opened at $32.51 on Monday. The firm has a fifty day moving average of $34.43 and a two-hundred day moving average of $32.84. Atlantic Union Bankshares Co. has a 1-year low of $22.85 and a 1-year high of $44.54. The firm has a market cap of $4.63 billion, a P/E ratio of 14.20 and a beta of 0.93. 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 released its quarterly earnings data 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). The business had revenue of $319.21 million for the quarter, compared to analyst estimates of $377.92 million. Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%.Atlantic Union Bankshares’s revenue was up 69.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.83 EPS. As a group, research analysts anticipate that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current fiscal year.

Atlantic Union Bankshares Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be issued a $0.37 dividend. The ex-dividend date is Friday, November 14th. 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%. Atlantic Union Bankshares’s dividend payout ratio is currently 79.14%.

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.