Squarepoint Ops LLC Sells 205,982 Shares of Atlantic Union Bankshares Co. $AUB

Squarepoint Ops LLC lessened its holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 90.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,859 shares of the company’s stock after selling 205,982 shares during the quarter. Squarepoint Ops LLC’s holdings in Atlantic Union Bankshares were worth $684,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in AUB. Franklin Resources Inc. boosted its position in shares of Atlantic Union Bankshares by 96.8% in the 2nd quarter. Franklin Resources Inc. now owns 3,313,002 shares of the company’s stock worth $103,631,000 after purchasing an additional 1,629,591 shares in the last quarter. State Street Corp boosted its holdings in Atlantic Union Bankshares by 24.5% in the second 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 in the last quarter. Geode Capital Management LLC grew its stake in shares of 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 acquiring an additional 1,255,064 shares during the last quarter. Systematic Financial Management LP increased its holdings in shares of Atlantic Union Bankshares by 189.1% during the second quarter. Systematic Financial Management LP now owns 1,572,663 shares of the company’s stock valued at $49,193,000 after acquiring an additional 1,028,723 shares in the last quarter. Finally, American Century Companies Inc. raised its position in shares of Atlantic Union Bankshares by 76.1% in the 2nd quarter. American Century Companies Inc. now owns 2,219,196 shares of the company’s stock worth $69,416,000 after purchasing an additional 959,332 shares during the last quarter. 78.58% of the stock is currently owned by hedge funds and other institutional investors.

Atlantic Union Bankshares Trading Down 0.5%

Shares of AUB stock opened at $36.34 on Wednesday. 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 Co. has a 12-month low of $22.85 and a 12-month high of $39.29. The stock has a market capitalization of $5.18 billion, a P/E ratio of 15.87 and a beta of 0.85. The firm’s 50 day moving average is $33.98 and its 200 day moving average is $33.76.

Atlantic Union Bankshares (NASDAQ:AUB) last announced its earnings results 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). The company had revenue of $319.21 million for the quarter, compared to analysts’ expectations of $377.92 million. Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.50%. Atlantic Union Bankshares’s quarterly revenue was up 69.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.83 earnings per share. Research analysts expect 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. Shareholders 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 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend was Friday, November 14th. Atlantic Union Bankshares’s dividend payout ratio is currently 79.14%.

Wall Street Analyst Weigh In

Several analysts recently commented on AUB shares. Cowen reissued a “buy” rating on shares of Atlantic Union Bankshares in a research report on Thursday, December 11th. TD Cowen upped their target price on shares of Atlantic Union Bankshares from $44.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Janney Montgomery Scott began coverage on shares of Atlantic Union Bankshares in a research report on Wednesday, October 8th. They set a “buy” rating and a $42.00 price target for the company. Raymond James Financial set a $45.00 price objective on shares of Atlantic Union Bankshares in a report on Thursday, December 11th. Finally, National Bankshares set a $46.00 target price on Atlantic Union Bankshares in a research note on Wednesday, September 24th. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.61.

About Atlantic Union Bankshares

Atlantic Union Bankshares, Inc is a bank holding company headquartered in Richmond, Virginia, operating through its principal subsidiary Atlantic Union Bank. The company offers a full suite of commercial and consumer banking services to individuals, businesses and institutions across Virginia, Maryland, North Carolina and the District of Columbia. Leveraging a network of full-service branches, commercial lending offices and digital platforms, Atlantic Union Bankshares focuses on relationship-driven solutions tailored to its regional client base.

Atlantic Union’s product lineup includes traditional deposit accounts, such as checking, savings and money market accounts, along with certificates of deposit.