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

Allspring Global Investments Holdings LLC reduced its holdings in shares of Atlantic Union Bankshares Co. (NYSE:AUB) by 29.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 217,553 shares of the company’s stock after selling 88,807 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.15% of Atlantic Union Bankshares worth $7,830,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. AQR Capital Management LLC lifted its position in shares of Atlantic Union Bankshares by 634.3% during the first quarter. AQR Capital Management LLC now owns 41,902 shares of the company’s stock worth $1,305,000 after purchasing an additional 36,196 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Atlantic Union Bankshares by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 53,232 shares of the company’s stock worth $1,658,000 after purchasing an additional 2,322 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Atlantic Union Bankshares by 36.0% in the first quarter. Goldman Sachs Group Inc. now owns 2,137,072 shares of the company’s stock valued at $66,548,000 after buying an additional 565,564 shares during the last quarter. Empowered Funds LLC bought a new stake in Atlantic Union Bankshares in the first quarter valued at about $3,011,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Atlantic Union Bankshares by 9.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 249,378 shares of the company’s stock valued at $7,766,000 after buying an additional 22,078 shares during the last quarter. Institutional investors and hedge funds own 78.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on AUB. Zacks Research downgraded Atlantic Union Bankshares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. Weiss Ratings initiated coverage on Atlantic Union Bankshares in a research report on Monday, July 6th. They set a “buy (b-)” rating on the stock. TD Cowen upped their price target on Atlantic Union Bankshares from $46.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday. Piper Sandler restated an “overweight” rating and set a $47.00 price objective on shares of Atlantic Union Bankshares in a research note on Wednesday. Finally, Stephens reaffirmed an “overweight” rating and issued a $46.00 price objective on shares of Atlantic Union Bankshares in a report on Thursday, June 11th. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $44.12.

Atlantic Union Bankshares Stock Performance

Shares of AUB stock opened at $42.09 on Friday. The company has a market cap of $6.02 billion, a P/E ratio of 12.56 and a beta of 0.79. The business has a 50 day moving average of $39.90 and a two-hundred day moving average of $38.45. Atlantic Union Bankshares Co. has a 52 week low of $30.39 and a 52 week high of $43.62. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.15.

Atlantic Union Bankshares (NYSE:AUB) last announced its quarterly earnings results on Tuesday, July 21st. The company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.02. Atlantic Union Bankshares had a return on equity of 10.55% and a net margin of 21.97%.The business had revenue of $387.57 million for the quarter, compared to the consensus estimate of $389.06 million. During the same quarter last year, the business posted $0.95 EPS. The business’s revenue was up 3.1% on a year-over-year basis. As a group, analysts anticipate that Atlantic Union Bankshares Co. will post 3.75 EPS for the current year.

Atlantic Union Bankshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $1.48 annualized dividend and a dividend yield of 3.5%. Atlantic Union Bankshares’s payout ratio is 62.71%.

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.