11,085 Shares in Atlantic Union Bankshares Co. $AUB Purchased by Inspire Investing LLC

Key Points

• Inspire Investing LLC has acquired 11,085 shares of Atlantic Union Bankshares Co. for approximately $345,000, marking a new stake for the institutional investor.
• CEO John C. Asbury purchased 7,500 shares at an average price of $32.91, increasing his holdings in the company by 2.85%.
• Atlantic Union Bankshares reported earnings of $0.95 per share for the last quarter, exceeding analysts' expectations and reflecting a yearly revenue increase of 92.0%.

Inspire Investing LLC acquired a new stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 11,085 shares of the company's stock, valued at approximately $345,000.

Several other hedge funds have also made changes to their positions in AUB. Vanguard Group Inc. lifted its holdings in shares of Atlantic Union Bankshares by 8.9% in the 1st quarter. Vanguard Group Inc. now owns 11,932,493 shares of the company's stock worth $371,578,000 after acquiring an additional 978,793 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in Atlantic Union Bankshares by 6.3% during the 1st quarter. Ameriprise Financial Inc. now owns 2,751,341 shares of the company's stock worth $85,676,000 after buying an additional 163,451 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Atlantic Union Bankshares by 36.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,137,072 shares of the company's stock worth $66,548,000 after buying an additional 565,564 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Atlantic Union Bankshares by 4.0% during the 1st quarter. Victory Capital Management Inc. now owns 1,644,177 shares of the company's stock worth $51,200,000 after buying an additional 63,650 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in Atlantic Union Bankshares by 35.5% during the 1st quarter. Northern Trust Corp now owns 1,573,946 shares of the company's stock worth $49,013,000 after buying an additional 412,730 shares in the last quarter. Hedge funds and other institutional investors own 78.58% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Raymond James Financial restated a "strong-buy" rating on shares of Atlantic Union Bankshares in a report on Wednesday, July 30th. Jefferies Financial Group set a $37.00 price objective on shares of Atlantic Union Bankshares and gave the company a "buy" rating in a report on Wednesday, May 21st. Piper Sandler reduced their price objective on shares of Atlantic Union Bankshares from $46.00 to $45.00 and set an "overweight" rating on the stock in a report on Friday, July 25th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Atlantic Union Bankshares from $33.00 to $34.00 and gave the company a "market perform" rating in a report on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $38.33.

Insider Buying and Selling

In other news, CEO John C. Asbury bought 7,500 shares of the firm's stock in a transaction dated Monday, July 28th. The stock was acquired at an average cost of $32.91 per share, for a total transaction of $246,825.00. Following the completion of the purchase, the chief executive officer owned 270,532 shares of the company's stock, valued at $8,903,208.12. This trade represents a 2.85% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frank Russell Ellett bought 1,441 shares of the company's stock in a transaction on Friday, August 8th. The shares were acquired at an average cost of $31.49 per share, for a total transaction of $45,377.09. Following the completion of the acquisition, the director directly owned 78,047 shares of the company's stock, valued at $2,457,700.03. This trade represents a 1.88% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 18,941 shares of company stock valued at $606,502. 0.87% of the stock is owned by insiders.

Atlantic Union Bankshares Stock Down 0.0%

Shares of NASDAQ:AUB opened at $35.38 on Monday. The company has a market cap of $5.04 billion, a price-to-earnings ratio of 15.45 and a beta of 0.90. The firm's 50-day simple moving average is $33.70 and its 200-day simple moving average is $31.19. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.13. Atlantic Union Bankshares Co. has a fifty-two week low of $22.85 and a fifty-two week high of $44.54.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.80 by $0.15. The firm had revenue of $377.22 million during the quarter, compared to analysts' expectations 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 for the quarter was up 92.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.63 earnings per share. As a group, equities research analysts predict that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current year.

Atlantic Union Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 4th were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Monday, August 4th. Atlantic Union Bankshares's payout ratio is currently 66.02%.

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.

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