Azora Capital LP Takes $2.23 Million Position in Atlantic Union Bankshares Co. $AUB

Azora Capital LP purchased a new stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 71,211 shares of the company’s stock, valued at approximately $2,227,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Integrated Investment Consultants LLC bought a new position in shares of Atlantic Union Bankshares during the 2nd quarter valued at approximately $238,000. State Street Corp grew its stake in shares of Atlantic Union Bankshares by 24.5% during the 2nd quarter. State Street Corp now owns 7,400,456 shares of the company’s stock worth $231,486,000 after acquiring an additional 1,457,647 shares during the period. Cerity Partners LLC raised its stake in Atlantic Union Bankshares by 69.6% in the 2nd quarter. Cerity Partners LLC now owns 107,020 shares of the company’s stock valued at $3,380,000 after acquiring an additional 43,923 shares during the period. Elizabeth Park Capital Advisors Ltd. purchased a new stake in Atlantic Union Bankshares during the second quarter valued at about $2,378,000. Finally, Gabelli Funds LLC purchased a new position in shares of Atlantic Union Bankshares in the second quarter worth about $3,784,000. Institutional investors own 78.58% of the company’s stock.

Atlantic Union Bankshares Trading Up 0.9%

Shares of AUB opened at $34.58 on Wednesday. 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 Co. has a fifty-two week low of $22.85 and a fifty-two week high of $42.73. The firm has a 50 day moving average price of $33.75 and a 200-day moving average price of $33.29. The firm has a market cap of $4.93 billion, a price-to-earnings ratio of 15.10 and a beta of 0.85.

Atlantic Union Bankshares (NASDAQ:AUB) last posted 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). Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%.The business had revenue of $319.21 million during the quarter, compared to the consensus estimate of $377.92 million. During the same period in the prior year, the firm earned $0.83 earnings per share. The business’s revenue for the quarter was up 69.8% on a year-over-year basis. As a group, equities research analysts forecast that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current year.

Atlantic Union Bankshares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were issued a $0.37 dividend. 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%. The ex-dividend date was Friday, November 14th. Atlantic Union Bankshares’s dividend payout ratio (DPR) is 79.14%.

Analyst Ratings Changes

A number of research analysts recently weighed in on AUB shares. TD Cowen reduced their price objective 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. Piper Sandler dropped their price objective on Atlantic Union Bankshares from $45.00 to $41.50 and set an “overweight” rating on the stock in a report on Friday, October 24th. Cowen reaffirmed a “buy” rating on shares of Atlantic Union Bankshares in a report on Monday, October 27th. Morgan Stanley increased their price target on shares of Atlantic Union Bankshares from $35.00 to $41.00 and gave the stock an “underperform” rating in a report on Monday, September 29th. Finally, National Bankshares set a $46.00 price objective on shares of Atlantic Union Bankshares in a research note on Wednesday, September 24th. Six investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus 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.