Congress Asset Management Co. Increases Stock Position in Atlantic Union Bankshares Co. $AUB

Congress Asset Management Co. boosted its position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 4.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,964,949 shares of the company’s stock after purchasing an additional 87,761 shares during the period. Congress Asset Management Co. owned approximately 1.38% of Atlantic Union Bankshares worth $69,363,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Westside Investment Management Inc. boosted its position in Atlantic Union Bankshares by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 780 shares of the company’s stock valued at $27,000 after buying an additional 390 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of Atlantic Union Bankshares by 309.5% during the third quarter. Farther Finance Advisors LLC now owns 864 shares of the company’s stock valued at $30,000 after acquiring an additional 653 shares in the last quarter. Abich Financial Wealth Management LLC purchased a new stake in shares of Atlantic Union Bankshares during the third quarter worth about $50,000. Nomura Asset Management Co. Ltd. increased its position in shares of Atlantic Union Bankshares by 64.8% during the second quarter. Nomura Asset Management Co. Ltd. now owns 1,533 shares of the company’s stock worth $48,000 after acquiring an additional 603 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake 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 acquiring an additional 1,287 shares in the last quarter. Hedge funds and other institutional investors own 78.58% of the company’s stock.

Atlantic Union Bankshares Stock Up 1.3%

NASDAQ:AUB opened at $34.73 on Tuesday. 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 company has a market capitalization of $4.95 billion, a price-to-earnings ratio of 15.17 and a beta of 0.82. Atlantic Union Bankshares Co. has a one year low of $22.85 and a one year high of $42.18. The stock has a 50-day simple moving average of $38.14 and a 200 day simple moving average of $35.98.

Atlantic Union Bankshares (NASDAQ:AUB) last announced its quarterly earnings data on Thursday, January 22nd. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $391.33 million for the quarter, compared to analysts’ expectations of $378.95 million. During the same quarter in the prior year, the firm posted $0.67 earnings per share. Sell-side analysts predict that Atlantic Union Bankshares Co. will post 3.26 EPS for the current fiscal year.

Atlantic Union Bankshares Dividend Announcement

The company also recently disclosed 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 was Friday, February 13th. This represents a $1.48 annualized dividend and a yield of 4.3%. Atlantic Union Bankshares’s dividend payout ratio (DPR) is 72.55%.

Wall Street Analysts Forecast Growth

AUB has been the subject of a number of analyst reports. Morgan Stanley increased their price target on Atlantic Union Bankshares from $44.00 to $47.00 and gave the company an “equal weight” rating in a report on Monday, March 2nd. Zacks Research raised Atlantic Union Bankshares from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 5th. Piper Sandler increased their target price on Atlantic Union Bankshares from $41.50 to $47.50 and gave the company an “overweight” rating in a research note on Thursday, February 5th. Stephens raised their price target on shares of Atlantic Union Bankshares from $43.00 to $45.00 and gave the stock an “overweight” rating in a research report on Monday, January 26th. Finally, Raymond James Financial set a $45.00 price target on shares of Atlantic Union Bankshares in a research note on Thursday, December 11th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average 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.