Associated Banc Corp Invests $224,000 in Atlantic Union Bankshares Co. $AUB

Associated Banc Corp purchased a new position in Atlantic Union Bankshares Co. (NASDAQ:AUB) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 7,146 shares of the company’s stock, valued at approximately $224,000.

Other institutional investors also recently made changes to their positions in the company. Curio Wealth LLC purchased a new stake in Atlantic Union Bankshares during the second quarter valued at about $28,000. CWM LLC increased its stake 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 buying an additional 523 shares during the period. Huntington National Bank lifted its holdings in Atlantic Union Bankshares by 71.7% in the 2nd quarter. Huntington National Bank now owns 1,298 shares of the company’s stock worth $41,000 after buying an additional 542 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its position in Atlantic Union Bankshares by 64.8% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 1,533 shares of the company’s stock valued at $48,000 after buying an additional 603 shares during the last quarter. Finally, Fifth Third Bancorp boosted its position in Atlantic Union Bankshares by 50.2% in the 2nd quarter. Fifth Third Bancorp now owns 2,052 shares of the company’s stock valued at $64,000 after buying an additional 686 shares during the last quarter. 78.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the company. National Bankshares set a $46.00 price target on Atlantic Union Bankshares in a research note on Wednesday, September 24th. Morgan Stanley lifted their price objective on Atlantic Union Bankshares from $35.00 to $41.00 and gave the stock an “underperform” rating in a report on Monday, September 29th. Keefe, Bruyette & Woods upped their target price on 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. Cowen reiterated a “buy” rating on shares of Atlantic Union Bankshares in a research note on Monday, October 27th. Finally, Piper Sandler decreased their price target on shares of Atlantic Union Bankshares from $45.00 to $41.50 and set an “overweight” rating for the company in a research report on Friday, October 24th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $40.61.

Atlantic Union Bankshares Trading Down 0.6%

NASDAQ:AUB opened at $34.04 on Thursday. The business has a 50 day simple moving average of $34.02 and a 200 day simple moving average of $33.02. The firm has a market capitalization of $4.85 billion, a P/E ratio of 14.86 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 Co. has a 12-month low of $22.85 and a 12-month high of $43.44.

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 analysts’ consensus estimates 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 analyst estimates of $377.92 million. During the same period last year, the business earned $0.83 EPS. The firm’s revenue was up 69.8% on a year-over-year basis. Equities research analysts predict that Atlantic Union Bankshares Co. will post 3.26 EPS for the current year.

Atlantic Union Bankshares Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, November 14th. This is a positive change from Atlantic Union Bankshares’s previous quarterly dividend of $0.34. This represents a $1.48 annualized dividend and a dividend yield of 4.3%. 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.