Bank of New York Mellon Corp Trims Stock Holdings in Atlantic Union Bankshares Co. $AUB

Bank of New York Mellon Corp decreased its position in Atlantic Union Bankshares Co. (NYSE:AUB) by 2.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,341,139 shares of the company’s stock after selling 37,600 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.94% of Atlantic Union Bankshares worth $47,932,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Beacon Investment Advisors LLC raised its stake in shares of Atlantic Union Bankshares by 0.7% in the fourth quarter. Beacon Investment Advisors LLC now owns 34,442 shares of the company’s stock worth $1,216,000 after purchasing an additional 249 shares during the last quarter. Walleye Capital LLC lifted its holdings in shares of Atlantic Union Bankshares by 1.5% during the 2nd quarter. Walleye Capital LLC now owns 22,000 shares of the company’s stock valued at $688,000 after buying an additional 322 shares during the period. Maryland State Retirement & Pension System boosted its stake in shares of Atlantic Union Bankshares by 1.7% in the 4th quarter. Maryland State Retirement & Pension System now owns 20,835 shares of the company’s stock worth $735,000 after buying an additional 347 shares during the last quarter. CIBC Asset Management Inc boosted its stake in shares of Atlantic Union Bankshares by 3.6% in the 4th quarter. CIBC Asset Management Inc now owns 13,399 shares of the company’s stock worth $473,000 after buying an additional 468 shares during the last quarter. Finally, Mackenzie Financial Corp grew its holdings in shares of Atlantic Union Bankshares by 5.7% in the third quarter. Mackenzie Financial Corp now owns 9,137 shares of the company’s stock worth $322,000 after acquiring an additional 492 shares during the period. Hedge funds and other institutional investors own 78.58% of the company’s stock.

Atlantic Union Bankshares Stock Performance

NYSE AUB opened at $42.18 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.93 and a quick ratio of 0.92. Atlantic Union Bankshares Co. has a 1-year low of $30.39 and a 1-year high of $43.62. The business has a 50 day simple moving average of $40.02 and a two-hundred day simple moving average of $38.48. The stock has a market capitalization of $6.04 billion, a PE ratio of 12.59 and a beta of 0.79.

Atlantic Union Bankshares (NYSE:AUB) last issued its quarterly earnings data 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. The business had revenue of $387.57 million for the quarter, compared to analysts’ expectations of $389.06 million. Atlantic Union Bankshares had a return on equity of 10.55% and a net margin of 21.97%.The company’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.95 EPS. On average, research analysts predict that Atlantic Union Bankshares Co. will post 3.76 EPS for the current fiscal year.

Atlantic Union Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Friday, August 7th will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, August 7th. This represents a $1.48 dividend on an annualized basis and a yield of 3.5%. Atlantic Union Bankshares’s dividend payout ratio is presently 62.71%.

Analysts Set New Price Targets

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

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.