Atlantic Union Bankshares Co. (NASDAQ:AUB) CEO John C. Asbury Purchases 7,500 Shares

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 purchased 7,500 shares of the stock in a transaction that occurred on Monday, July 28th. The shares were acquired at an average price of $32.91 per share, for a total transaction of $246,825.00. Following the completion of the transaction, the chief executive officer directly owned 270,532 shares of the company's stock, valued at $8,903,208.12. The trade was a 2.85% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Atlantic Union Bankshares Trading Down 1.2%

Shares of Atlantic Union Bankshares stock traded down $0.40 on Friday, reaching $31.31. The company had a trading volume of 1,514,404 shares, compared to its average volume of 1,464,234. The firm's 50 day moving average price is $31.70 and its two-hundred day moving average price is $31.92. The firm has a market cap of $4.46 billion, a PE ratio of 13.67 and a beta of 0.86. Atlantic Union Bankshares Co. has a 52-week low of $22.85 and a 52-week 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 quarterly earnings results on Thursday, July 24th. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.80 by $0.15. The business had revenue of $377.22 million for the quarter, compared to the consensus estimate of $369.70 million. Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.50%. The business's revenue was up 92.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.63 EPS. Sell-side analysts predict that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current fiscal year.

Atlantic Union Bankshares Announces Dividend

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 paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend is Monday, August 4th. Atlantic Union Bankshares's dividend payout ratio is presently 66.02%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Jennison Associates LLC boosted its holdings in Atlantic Union Bankshares by 6.3% in the second quarter. Jennison Associates LLC now owns 649,391 shares of the company's stock valued at $20,313,000 after purchasing an additional 38,333 shares during the period. Peregrine Capital Management LLC grew its holdings in Atlantic Union Bankshares by 7.6% during the 2nd quarter. Peregrine Capital Management LLC now owns 190,770 shares of the company's stock worth $5,967,000 after acquiring an additional 13,523 shares in the last quarter. Teacher Retirement System of Texas grew its holdings in Atlantic Union Bankshares by 6.3% during the 2nd quarter. Teacher Retirement System of Texas now owns 19,852 shares of the company's stock worth $621,000 after acquiring an additional 1,175 shares in the last quarter. Bessemer Group Inc. grew its holdings in Atlantic Union Bankshares by 577.9% during the 2nd quarter. Bessemer Group Inc. now owns 2,759 shares of the company's stock worth $87,000 after acquiring an additional 2,352 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in Atlantic Union Bankshares by 69.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 594,985 shares of the company's stock worth $18,611,000 after acquiring an additional 244,412 shares in the last quarter. 78.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

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.