Atlantic Union Bankshares Co. (NASDAQ:AUB) CEO Purchases $246,825.00 in Stock

Key Points

• CEO Insider Purchase: Atlantic Union Bankshares CEO John C. Asbury purchased 7,500 shares at an average price of $32.91, totaling about $246,825, increasing his ownership to 270,532 shares.
• Strong Quarterly Earnings: The company reported a quarterly EPS of $0.95, surpassing estimates by $0.15, with revenue of $377.22 million, up 92% year-over-year.
• Quarterly Dividend Declared: Atlantic Union Bankshares announced a quarterly dividend of $0.34 per share, payable on August 18th, representing an annualized yield of 4.12%.

Atlantic Union Bankshares Co. (NASDAQ:AUB - Get Free Report) CEO John C. Asbury acquired 7,500 shares of the stock in a transaction that occurred on Monday, July 28th. The stock was purchased at an average cost of $32.91 per share, with a total value of $246,825.00. Following the completion of the acquisition, the chief executive officer owned 270,532 shares of the company's stock, valued at $8,903,208.12. The trade was a 2.85% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Atlantic Union Bankshares Price Performance

Shares of NASDAQ:AUB traded down $1.02 during trading on Friday, reaching $30.68. The company had a trading volume of 165,750 shares, compared to its average volume of 1,454,724. The firm's fifty day moving average is $31.65 and its 200 day moving average is $31.97. The firm has a market capitalization of $4.37 billion, a PE ratio of 13.37 and a beta of 0.86. Atlantic Union Bankshares Co. has a twelve month low of $22.85 and a twelve month high of $44.54. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.91 and a current ratio of 0.91.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last released its earnings results on Thursday, July 24th. The company reported $0.95 EPS for the quarter, topping analysts' consensus estimates of $0.80 by $0.15. Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.50%. The business had revenue of $377.22 million for the quarter, compared to the consensus estimate of $369.70 million. During the same period in the previous year, the firm earned $0.63 EPS. The business's revenue for the quarter was up 92.0% on a year-over-year basis. On average, equities analysts forecast that Atlantic Union Bankshares Co. will post 3.26 EPS for the current year.

Atlantic Union Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, August 4th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Monday, August 4th. Atlantic Union Bankshares's payout ratio is presently 66.02%.

Analyst Upgrades and Downgrades

Several research analysts have commented on AUB shares. Piper Sandler decreased their target price on shares of Atlantic Union Bankshares from $46.00 to $45.00 and set an "overweight" rating for the company in a research report on Friday, July 25th. Morgan Stanley started coverage on shares of Atlantic Union Bankshares in a research report on Wednesday, April 9th. They issued an "equal weight" rating and a $32.00 target price for the company. Raymond James Financial restated a "strong-buy" rating on shares of Atlantic Union Bankshares in a research report on Wednesday. Jefferies Financial Group set a $37.00 target price on Atlantic Union Bankshares and gave the company a "buy" rating in a research note on Wednesday, May 21st. Finally, Keefe, Bruyette & Woods cut their target price on Atlantic Union Bankshares from $40.00 to $33.00 and set a "market perform" rating on the stock in a research note on Monday, April 28th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Atlantic Union Bankshares currently has a consensus rating of "Moderate Buy" and an average target price of $38.17.

Institutional Investors Weigh In On Atlantic Union Bankshares

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Atlantic Union Bankshares by 8.9% in the 1st quarter. Vanguard Group Inc. now owns 11,932,493 shares of the company's stock valued at $371,578,000 after buying an additional 978,793 shares during the period. Dimensional Fund Advisors LP increased its stake in Atlantic Union Bankshares by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,681,103 shares of the company's stock valued at $215,201,000 after buying an additional 31,082 shares during the period. Ameriprise Financial Inc. increased its stake in Atlantic Union Bankshares by 6.3% in the 1st quarter. Ameriprise Financial Inc. now owns 2,751,341 shares of the company's stock valued at $85,676,000 after buying an additional 163,451 shares during the period. Goldman Sachs Group Inc. increased its stake in Atlantic Union Bankshares by 36.0% in the 1st 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 period. Finally, North Reef Capital Management LP acquired a new position in Atlantic Union Bankshares in the 4th quarter valued at approximately $78,942,000. Institutional investors and hedge funds own 78.58% of the company's stock.

Atlantic Union Bankshares Company Profile

Atlantic Union Bankshares Corporation operates as the bank holding company for Atlantic Union Bank that provides banking and related financial products and services to consumers and businesses in the United States. It operates in two segments, Wholesale Banking and Consumer Banking. The company accepts various deposit products, including checking, savings, time deposit, and money market accounts; certificates of deposit; and other depository services.