Envestnet Asset Management Inc. Purchases 64,806 Shares of Atlantic Union Bankshares Co. $AUB

Envestnet Asset Management Inc. increased its position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 10.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 659,791 shares of the company’s stock after purchasing an additional 64,806 shares during the period. Envestnet Asset Management Inc. owned 0.46% of Atlantic Union Bankshares worth $23,284,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of AUB. StoneX Group Inc. purchased a new stake in shares of Atlantic Union Bankshares during the second quarter worth about $1,447,000. Verity & Verity LLC boosted its stake in Atlantic Union Bankshares by 29.6% in the 3rd quarter. Verity & Verity LLC now owns 504,420 shares of the company’s stock worth $17,801,000 after purchasing an additional 115,245 shares during the period. Elizabeth Park Capital Advisors Ltd. bought a new position in Atlantic Union Bankshares in the 2nd quarter worth approximately $2,378,000. Creative Planning grew its holdings in Atlantic Union Bankshares by 738.9% during the 2nd quarter. Creative Planning now owns 95,445 shares of the company’s stock valued at $2,986,000 after buying an additional 84,068 shares in the last quarter. Finally, Blue Trust Inc. raised its position in shares of Atlantic Union Bankshares by 323.3% during the third quarter. Blue Trust Inc. now owns 55,463 shares of the company’s stock valued at $1,957,000 after buying an additional 42,361 shares during the last quarter. Hedge funds and other institutional investors own 78.58% of the company’s stock.

Atlantic Union Bankshares Price Performance

NASDAQ AUB opened at $40.19 on Friday. The company has a market cap of $5.73 billion, a PE ratio of 17.55 and a beta of 0.83. Atlantic Union Bankshares Co. has a 52-week low of $22.85 and a 52-week high of $42.18. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.91 and a current ratio of 0.91. The firm’s 50 day moving average price is $37.84 and its 200-day moving average price is $35.37.

Atlantic Union Bankshares (NASDAQ:AUB) last announced its quarterly earnings results on Thursday, January 22nd. The company reported $0.97 earnings per share (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 for the quarter, compared to the consensus estimate of $378.95 million. During the same period last year, the business posted $0.67 EPS. Sell-side analysts forecast that Atlantic Union Bankshares Co. will post 3.26 EPS for the current fiscal year.

Atlantic Union Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, February 13th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.7%. Atlantic Union Bankshares’s dividend payout ratio is presently 72.55%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Raymond James Financial set a $45.00 target price on shares of Atlantic Union Bankshares in a research report on Thursday, December 11th. Morgan Stanley boosted their price target on shares of Atlantic Union Bankshares from $41.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 11th. Piper Sandler raised their price objective on Atlantic Union Bankshares from $41.50 to $47.50 and gave the company an “overweight” rating in a research report on Thursday, February 5th. Zacks Research raised Atlantic Union Bankshares from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 5th. Finally, Stephens increased their price target on Atlantic Union Bankshares from $43.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently 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.