Commonwealth of Pennsylvania Public School Empls Retrmt SYS Acquires 15,446 Shares of Atlantic Union Bankshares Co. $AUB

Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 73.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 36,575 shares of the company’s stock after acquiring an additional 15,446 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Atlantic Union Bankshares were worth $1,144,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in AUB. Vanguard Group Inc. grew its holdings in shares of Atlantic Union Bankshares by 8.9% during the 1st quarter. Vanguard Group Inc. now owns 11,932,493 shares of the company’s stock valued at $371,578,000 after purchasing an additional 978,793 shares during the last quarter. Geode Capital Management LLC lifted its stake in Atlantic Union Bankshares by 59.2% in the second quarter. Geode Capital Management LLC now owns 3,375,225 shares of the company’s stock worth $105,589,000 after purchasing an additional 1,255,064 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Atlantic Union Bankshares by 6.3% during the first quarter. Ameriprise Financial Inc. now owns 2,751,341 shares of the company’s stock valued at $85,676,000 after buying an additional 163,451 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Atlantic Union Bankshares by 36.0% during the first quarter. Goldman Sachs Group Inc. now owns 2,137,072 shares of the company’s stock valued at $66,548,000 after buying an additional 565,564 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Atlantic Union Bankshares by 35.5% during the first quarter. Northern Trust Corp now owns 1,573,946 shares of the company’s stock valued at $49,013,000 after buying an additional 412,730 shares during the last quarter. 78.58% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AUB. Raymond James Financial reissued a “strong-buy” rating on shares of Atlantic Union Bankshares in a research note on Friday, October 24th. Morgan Stanley lifted 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. Cowen reiterated a “buy” rating on shares of Atlantic Union Bankshares in a research report on Monday, October 27th. Janney Montgomery Scott initiated coverage on shares of Atlantic Union Bankshares in a report on Wednesday, October 8th. They issued a “buy” rating and a $42.00 target price on the stock. Finally, Piper Sandler decreased their target price on shares of Atlantic Union Bankshares from $45.00 to $41.50 and set an “overweight” rating on the stock in a research note on Friday, October 24th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Atlantic Union Bankshares presently has a consensus rating of “Moderate Buy” and an average target price of $40.61.

Atlantic Union Bankshares Trading Up 3.8%

NASDAQ AUB opened at $32.88 on Monday. The stock has a market cap of $4.69 billion, a P/E ratio of 14.36 and a beta of 0.93. Atlantic Union Bankshares Co. has a fifty-two week low of $22.85 and a fifty-two week high of $44.54. The stock has a 50 day simple moving average of $34.09 and a two-hundred day simple moving average of $32.96. 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 posted its earnings results on Thursday, October 23rd. The company reported $0.84 earnings per share (EPS) 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 business had revenue of $319.21 million for the quarter, compared to analysts’ expectations of $377.92 million. During the same period last year, the firm posted $0.83 earnings per share. Atlantic Union Bankshares’s quarterly revenue was up 69.8% on a year-over-year basis. On average, analysts forecast that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current year.

Atlantic Union Bankshares Increases Dividend

The business 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 $0.37 dividend. This is a boost from Atlantic Union Bankshares’s previous quarterly dividend of $0.34. The ex-dividend date is Friday, November 14th. This represents a $1.48 annualized dividend and a yield of 4.5%. Atlantic Union Bankshares’s dividend payout ratio (DPR) is currently 79.14%.

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.