Handelsbanken Fonder AB Boosts Stake in Atlantic Union Bankshares Co. $AUB

Handelsbanken Fonder AB lifted its holdings in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 8.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 22,216 shares of the company’s stock after purchasing an additional 1,800 shares during the quarter. Handelsbanken Fonder AB’s holdings in Atlantic Union Bankshares were worth $695,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Corebridge Financial Inc. lifted its position in Atlantic Union Bankshares by 0.8% in the first quarter. Corebridge Financial Inc. now owns 48,026 shares of the company’s stock valued at $1,496,000 after buying an additional 396 shares during the last quarter. CWM LLC increased its position in shares of Atlantic Union Bankshares by 99.4% during the first quarter. CWM LLC now owns 1,049 shares of the company’s stock valued at $33,000 after acquiring an additional 523 shares during the last quarter. Huntington National Bank raised its stake in shares of Atlantic Union Bankshares by 71.7% in the 2nd quarter. Huntington National Bank now owns 1,298 shares of the company’s stock valued at $41,000 after acquiring an additional 542 shares during the period. Nomura Asset Management Co. Ltd. lifted its holdings in shares of 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 worth $48,000 after acquiring an additional 603 shares during the last quarter. Finally, Fifth Third Bancorp lifted its holdings in shares of Atlantic Union Bankshares by 50.2% in 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. 78.58% of the stock is owned by institutional investors and hedge funds.

Atlantic Union Bankshares Stock Down 0.6%

Shares of NASDAQ AUB opened at $33.83 on Friday. The stock has a market cap of $4.82 billion, a P/E ratio of 14.77 and a beta of 0.93. The business’s fifty day simple moving average is $33.91 and its 200-day simple moving average is $33.06. Atlantic Union Bankshares Co. has a 12-month low of $22.85 and a 12-month high of $43.44. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.13.

Atlantic Union Bankshares (NASDAQ:AUB) last issued its quarterly 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). The company had revenue of $319.21 million for the quarter, compared to analysts’ expectations 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 for the quarter 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, equities analysts predict 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 was paid on Friday, November 28th. Investors of record on Friday, November 14th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 4.4%. This is a positive change from Atlantic Union Bankshares’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Friday, November 14th. Atlantic Union Bankshares’s dividend payout ratio is 79.14%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on AUB shares. TD Cowen dropped 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 report on Monday, October 27th. National Bankshares set a $46.00 price objective on Atlantic Union Bankshares in a research note on Wednesday, September 24th. Cowen reissued a “buy” rating on shares of Atlantic Union Bankshares in a research note on Monday, October 27th. Janney Montgomery Scott started coverage on Atlantic Union Bankshares in a report on Wednesday, October 8th. They set a “buy” rating and a $42.00 target price for the company. Finally, Piper Sandler dropped their target price on 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 given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Atlantic Union Bankshares has an average rating of “Moderate Buy” and an average target price of $40.61.

Atlantic Union Bankshares Company 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.