Citigroup Inc. Sells 106,643 Shares of Atlantic Union Bankshares Co. $AUB

Citigroup Inc. cut its stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 38.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 172,939 shares of the company’s stock after selling 106,643 shares during the period. Citigroup Inc. owned about 0.12% of Atlantic Union Bankshares worth $6,103,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Westside Investment Management Inc. raised its stake in shares of Atlantic Union Bankshares by 100.0% in the third quarter. Westside Investment Management Inc. now owns 780 shares of the company’s stock worth $27,000 after buying an additional 390 shares during the period. Farther Finance Advisors LLC raised its stake in Atlantic Union Bankshares by 309.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 864 shares of the company’s stock worth $30,000 after acquiring an additional 653 shares during the period. Huntington National Bank lifted its holdings in Atlantic Union Bankshares by 71.7% during the second quarter. Huntington National Bank now owns 1,298 shares of the company’s stock valued at $41,000 after purchasing an additional 542 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its position in shares of Atlantic Union Bankshares by 64.8% in the second quarter. Nomura Asset Management Co. Ltd. now owns 1,533 shares of the company’s stock worth $48,000 after purchasing an additional 603 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Atlantic Union Bankshares by 504.7% in the second quarter. EverSource Wealth Advisors LLC now owns 1,542 shares of the company’s stock worth $48,000 after purchasing an additional 1,287 shares during the period. Institutional investors own 78.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AUB. Raymond James Financial set a $45.00 target price on shares of Atlantic Union Bankshares in a report on Thursday, December 11th. TD Cowen reaffirmed a “buy” rating on shares of Atlantic Union Bankshares in a research note on Thursday, December 11th. Morgan Stanley lifted their target price on Atlantic Union Bankshares from $44.00 to $47.00 and gave the company an “equal weight” rating in a research note on Monday. Piper Sandler boosted their price target on Atlantic Union Bankshares from $41.50 to $47.50 and gave the stock an “overweight” rating in a report on Thursday, February 5th. Finally, Stephens increased 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. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $42.85.

Atlantic Union Bankshares Price Performance

NASDAQ:AUB opened at $37.60 on Tuesday. The business’s 50-day moving average is $38.51 and its 200 day moving average is $35.95. 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 $5.36 billion, a P/E ratio of 16.42 and a beta of 0.83. 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 released its quarterly earnings data on Thursday, January 22nd. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.11. The business had revenue of $391.33 million for the quarter, compared to the consensus estimate of $378.95 million. Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%.During the same quarter in the previous year, the company posted $0.67 EPS. On average, equities research analysts forecast that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current fiscal year.

Atlantic Union Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 13th were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, February 13th. This represents a $1.48 dividend on an annualized basis and a yield of 3.9%. Atlantic Union Bankshares’s dividend payout ratio is presently 72.55%.

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.