Atlantic Union Bankshares Co. $AUB Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its stake in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 15.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 306,360 shares of the company’s stock after selling 55,396 shares during the period. Allspring Global Investments Holdings LLC owned 0.21% of Atlantic Union Bankshares worth $10,882,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Congress Asset Management Co. grew its position in shares of Atlantic Union Bankshares by 1,022.6% during the 3rd quarter. Congress Asset Management Co. now owns 1,877,188 shares of the company’s stock valued at $66,246,000 after buying an additional 1,709,975 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Atlantic Union Bankshares by 6,808.0% during the 4th quarter. SG Americas Securities LLC now owns 1,532,473 shares of the company’s stock worth $54,096,000 after purchasing an additional 1,510,289 shares during the period. State Street Corp lifted its holdings in shares of Atlantic Union Bankshares by 24.5% in the 2nd quarter. State Street Corp now owns 7,400,456 shares of the company’s stock worth $231,486,000 after purchasing an additional 1,457,647 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of 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 purchasing an additional 1,284,759 shares during the last quarter. Finally, North Reef Capital Management LP boosted its position in Atlantic Union Bankshares by 35.0% during the 3rd quarter. North Reef Capital Management LP now owns 3,713,604 shares of the company’s stock valued at $131,053,000 after purchasing an additional 963,604 shares during the period. Institutional investors and hedge funds own 78.58% of the company’s stock.

Atlantic Union Bankshares Stock Performance

Shares of AUB stock opened at $36.11 on Monday. The company has a market capitalization of $5.17 billion, a price-to-earnings ratio of 15.77 and a beta of 0.82. Atlantic Union Bankshares Co. has a 1-year low of $22.85 and a 1-year high of $42.18. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.13. The stock’s fifty day simple moving average is $37.63 and its 200-day simple moving average is $35.99.

Atlantic Union Bankshares (NASDAQ:AUB) last announced its quarterly earnings data 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 net margin of 15.53% and a return on equity of 8.50%. The firm had revenue of $391.33 million for the quarter, compared to the consensus estimate of $378.95 million. During the same period in the previous year, the firm posted $0.67 earnings per share. On average, sell-side analysts predict that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current fiscal year.

Atlantic Union Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date was Friday, February 13th. Atlantic Union Bankshares’s payout ratio is presently 72.55%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AUB. Zacks Research cut Atlantic Union Bankshares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 31st. Raymond James Financial set a $45.00 price objective on shares of Atlantic Union Bankshares in a report on Thursday, December 11th. 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 research report on Monday, January 26th. TD Cowen restated a “buy” rating on shares of Atlantic Union Bankshares in a research report on Thursday, December 11th. Finally, 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 note on Monday, March 2nd. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $43.17.

Atlantic Union Bankshares 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.