Atlantic Union Bankshares Co. $AUB Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered its stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 6.1% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 242,508 shares of the company’s stock after selling 15,697 shares during the period. JPMorgan Chase & Co. owned about 0.17% of Atlantic Union Bankshares worth $8,558,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Tritonpoint Wealth LLC grew its holdings in Atlantic Union Bankshares by 1.8% during the third quarter. Tritonpoint Wealth LLC now owns 17,522 shares of the company’s stock worth $618,000 after acquiring an additional 317 shares during the period. Walleye Capital LLC lifted its holdings in Atlantic Union Bankshares by 1.5% in the second quarter. Walleye Capital LLC now owns 22,000 shares of the company’s stock valued at $688,000 after acquiring an additional 322 shares during the period. Benson Investment Management Company Inc. boosted its position in Atlantic Union Bankshares by 0.3% in the 3rd quarter. Benson Investment Management Company Inc. now owns 107,665 shares of the company’s stock worth $3,799,000 after purchasing an additional 355 shares in the last quarter. Accordant Advisory Group Inc boosted its position in Atlantic Union Bankshares by 1.0% in the 3rd quarter. Accordant Advisory Group Inc now owns 36,245 shares of the company’s stock worth $1,279,000 after purchasing an additional 364 shares in the last quarter. Finally, Westside Investment Management Inc. grew its stake in shares of Atlantic Union Bankshares by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 780 shares of the company’s stock worth $27,000 after purchasing an additional 390 shares during the period. Hedge funds and other institutional investors own 78.58% of the company’s stock.

Atlantic Union Bankshares Price Performance

Atlantic Union Bankshares stock opened at $34.80 on Monday. The stock has a market capitalization of $4.96 billion, a P/E ratio of 15.19 and a beta of 0.82. The company’s fifty day moving average price is $37.94 and its 200 day moving average price is $35.97. 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 1 year low of $22.85 and a 1 year high of $42.18.

Atlantic Union Bankshares (NASDAQ:AUB) last posted its quarterly earnings data on Thursday, January 22nd. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.11. The company had revenue of $391.33 million during the quarter, compared to analysts’ expectations of $378.95 million. Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.50%. During the same period in the prior year, the business posted $0.67 earnings per share. As a group, equities research analysts anticipate that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current fiscal year.

Atlantic Union Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 13th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 4.3%. The ex-dividend date was Friday, February 13th. Atlantic Union Bankshares’s dividend payout ratio is 72.55%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on AUB shares. Zacks Research upgraded shares of Atlantic Union Bankshares from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 5th. Morgan Stanley raised their price target on shares of Atlantic Union Bankshares from $44.00 to $47.00 and gave the company an “equal weight” rating in a research report on Monday, March 2nd. Stephens lifted their price objective on shares of Atlantic Union Bankshares from $43.00 to $45.00 and gave the company an “overweight” rating in a report on Monday, January 26th. Raymond James Financial set a $45.00 target price on shares of Atlantic Union Bankshares in a research note on Thursday, December 11th. Finally, TD Cowen restated a “buy” rating on shares of Atlantic Union Bankshares in a research report on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Atlantic Union Bankshares has an average rating of “Moderate Buy” and a consensus price target of $43.17.

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.