Clearstead Advisors LLC Has $237,000 Stake in Atlantic Union Bankshares Co. $AUB

Clearstead Advisors LLC reduced its stake in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 79.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 6,715 shares of the company’s stock after selling 25,646 shares during the quarter. Clearstead Advisors LLC’s holdings in Atlantic Union Bankshares were worth $237,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in AUB. Congress Asset Management Co. raised its position in shares of Atlantic Union Bankshares by 1,022.6% in the third quarter. Congress Asset Management Co. now owns 1,877,188 shares of the company’s stock valued at $66,246,000 after purchasing an additional 1,709,975 shares during the period. Franklin Resources Inc. grew its stake in Atlantic Union Bankshares by 96.8% in the 2nd quarter. Franklin Resources Inc. now owns 3,313,002 shares of the company’s stock valued at $103,631,000 after buying an additional 1,629,591 shares during the last quarter. State Street Corp grew its stake in Atlantic Union Bankshares by 24.5% in the 2nd quarter. State Street Corp now owns 7,400,456 shares of the company’s stock valued at $231,486,000 after buying an additional 1,457,647 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in Atlantic Union Bankshares by 1,128.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 1,398,654 shares of the company’s stock worth $49,358,000 after acquiring an additional 1,284,759 shares during the period. Finally, Geode Capital Management LLC lifted its position in Atlantic Union Bankshares by 59.2% during the 2nd 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. Institutional investors own 78.58% of the company’s stock.

Atlantic Union Bankshares Price Performance

Shares of AUB stock opened at $36.97 on Friday. Atlantic Union Bankshares Co. has a 12 month low of $22.85 and a 12 month high of $42.18. The company has a market capitalization of $5.27 billion, a P/E ratio of 16.14 and a beta of 0.83. The stock has a 50 day moving average of $38.48 and a two-hundred day moving average of $35.90. 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 earnings results on Thursday, January 22nd. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.11. Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%.The business had revenue of $391.33 million during the quarter, compared to analyst estimates of $378.95 million. During the same period in the prior year, the company posted $0.67 earnings per share. As a group, equities analysts expect that Atlantic Union Bankshares Co. will post 3.26 EPS for the current year.

Atlantic Union Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Friday, February 13th. Atlantic Union Bankshares’s dividend payout ratio (DPR) is presently 72.55%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on AUB shares. Morgan Stanley upped their price target on shares of Atlantic Union Bankshares from $41.00 to $44.00 and gave the company an “equal weight” rating in a report on Thursday, December 11th. TD Cowen restated a “buy” rating on shares of Atlantic Union Bankshares in a research note on Thursday, December 11th. Stephens lifted their price target on Atlantic Union Bankshares from $43.00 to $45.00 and gave the stock an “overweight” rating in a research report on Monday, January 26th. Zacks Research upgraded Atlantic Union Bankshares from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 5th. Finally, Piper Sandler raised their price objective on shares of Atlantic Union Bankshares from $41.50 to $47.50 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Atlantic Union Bankshares currently has an average rating of “Moderate Buy” and an average price target of $42.55.

Atlantic Union Bankshares Company Profile

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.