Atlantic Union Bankshares Co. $AUB Shares Bought by Creative Planning

Creative Planning boosted its holdings in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 738.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 95,445 shares of the company’s stock after purchasing an additional 84,068 shares during the quarter. Creative Planning owned approximately 0.07% of Atlantic Union Bankshares worth $2,986,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Corebridge Financial Inc. raised its stake in shares of Atlantic Union Bankshares by 0.8% during the 1st quarter. Corebridge Financial Inc. now owns 48,026 shares of the company’s stock worth $1,496,000 after buying an additional 396 shares during the period. CWM LLC increased its holdings in Atlantic Union Bankshares by 99.4% in the 1st quarter. CWM LLC now owns 1,049 shares of the company’s stock worth $33,000 after acquiring an additional 523 shares in the last quarter. Huntington National Bank raised its position in Atlantic Union Bankshares by 71.7% during the second quarter. Huntington National Bank now owns 1,298 shares of the company’s stock worth $41,000 after acquiring an additional 542 shares during the period. Fifth Third Bancorp raised its position in Atlantic Union Bankshares by 50.2% during the second 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 period. Finally, Curio Wealth LLC purchased a new position in Atlantic Union Bankshares during the second quarter valued at $28,000. 78.58% of the stock is currently owned by hedge funds and other institutional investors.

Atlantic Union Bankshares Trading Up 3.8%

AUB opened at $32.88 on Monday. The firm has a market capitalization of $4.69 billion, a price-to-earnings ratio of 14.36 and a beta of 0.93. The company’s 50 day simple moving average is $34.09 and its two-hundred day simple moving average is $32.96. Atlantic Union Bankshares Co. has a 1-year low of $22.85 and a 1-year 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 quarterly earnings results on Thursday, October 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $319.21 million during the quarter, compared to analysts’ expectations of $377.92 million. During the same quarter last year, the company earned $0.83 earnings per share. Atlantic Union Bankshares’s revenue for the quarter was up 69.8% on a year-over-year basis. Analysts expect that Atlantic Union Bankshares Co. will post 3.26 EPS for the current fiscal year.

Atlantic Union Bankshares Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AUB. TD Cowen cut their target price on shares of 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. Cowen reiterated a “buy” rating on shares of Atlantic Union Bankshares in a report on Monday, October 27th. Morgan Stanley increased 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. Janney Montgomery Scott initiated coverage on Atlantic Union Bankshares in a research report on Wednesday, October 8th. They issued a “buy” rating and a $42.00 target price on the stock. Finally, National Bankshares set a $46.00 price target on Atlantic Union Bankshares in a research report on Wednesday, September 24th. One 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.61.

Atlantic Union Bankshares 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.