Sovran Advisors LLC Purchases Shares of 31,386 Atlantic Union Bankshares Co. $AUB

Sovran Advisors LLC acquired a new position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 31,386 shares of the company’s stock, valued at approximately $1,204,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Westside Investment Management Inc. lifted its holdings in 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 last quarter. Farther Finance Advisors LLC grew its holdings in Atlantic Union Bankshares by 309.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 864 shares of the company’s stock valued at $30,000 after buying an additional 653 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Atlantic Union Bankshares by 504.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,542 shares of the company’s stock valued at $48,000 after buying an additional 1,287 shares in the last quarter. Abich Financial Wealth Management LLC bought a new position in Atlantic Union Bankshares during the 3rd quarter worth $50,000. Finally, UMB Bank n.a. increased its position in Atlantic Union Bankshares by 32.5% during the 3rd quarter. UMB Bank n.a. now owns 1,660 shares of the company’s stock worth $59,000 after buying an additional 407 shares during the period. Institutional investors and hedge funds own 78.58% of the company’s stock.

Atlantic Union Bankshares Stock Up 0.1%

AUB stock opened at $36.11 on Monday. Atlantic Union Bankshares Co. has a 52 week low of $22.85 and a 52 week high of $42.18. The business has a 50-day simple moving average of $37.63 and a 200 day simple moving average of $35.99. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.13. The company has a market cap of $5.17 billion, a PE ratio of 15.77 and a beta of 0.82.

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, topping analysts’ consensus estimates of $0.86 by $0.11. The firm had revenue of $391.33 million for the quarter, compared to the consensus estimate 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 company posted $0.67 earnings per share. Sell-side analysts anticipate that Atlantic Union Bankshares Co. will post 3.26 EPS 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. Shareholders of record on Friday, February 13th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 4.1%. The ex-dividend date was Friday, February 13th. Atlantic Union Bankshares’s payout ratio is currently 72.55%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AUB. Morgan Stanley boosted their target price 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. Piper Sandler lifted their price objective on shares of Atlantic Union Bankshares from $41.50 to $47.50 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. Zacks Research downgraded shares of Atlantic Union Bankshares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. Stephens increased their target price 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, TD Cowen reaffirmed a “buy” rating on shares of Atlantic Union Bankshares in a report on Thursday, December 11th. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.17.

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.