EntryPoint Capital LLC Makes New $454,000 Investment in Atlantic Union Bankshares Co. $AUB

Key Points

• EntryPoint Capital LLC recently acquired a new stake in Atlantic Union Bankshares, purchasing 14,589 shares valued at approximately $454,000 during the 1st quarter.
• In the 1st quarter, institutional investors collectively own 78.58% of Atlantic Union Bankshares, indicating significant institutional interest in the company.
• Atlantic Union Bankshares reported an EPS of $0.95 for the last quarter, surpassing estimates by $0.15, with revenue increasing by 92.0% year-over-year to $377.22 million.

EntryPoint Capital LLC acquired a new position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 14,589 shares of the company's stock, valued at approximately $454,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. NBC Securities Inc. purchased a new position in Atlantic Union Bankshares during the 1st quarter worth $25,000. CWM LLC boosted its holdings in shares of Atlantic Union Bankshares by 99.4% in the first quarter. CWM LLC now owns 1,049 shares of the company's stock valued at $33,000 after acquiring an additional 523 shares in the last quarter. Investment Management Corp VA ADV acquired a new position in shares of Atlantic Union Bankshares during the fourth quarter worth about $72,000. Concord Wealth Partners raised its holdings in Atlantic Union Bankshares by 304.1% during the first quarter. Concord Wealth Partners now owns 2,728 shares of the company's stock worth $85,000 after purchasing an additional 2,053 shares in the last quarter. Finally, Sterling Capital Management LLC lifted its position in Atlantic Union Bankshares by 838.1% in the fourth quarter. Sterling Capital Management LLC now owns 2,880 shares of the company's stock valued at $109,000 after purchasing an additional 2,573 shares during the period. 78.58% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO John C. Asbury bought 7,500 shares of the stock in a transaction on Monday, July 28th. The shares were purchased at an average price of $32.91 per share, for a total transaction of $246,825.00. Following the acquisition, the chief executive officer owned 270,532 shares in the company, valued at $8,903,208.12. This represents a 2.85% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Frank Russell Ellett purchased 1,441 shares of Atlantic Union Bankshares 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 purchase, the director owned 78,047 shares in the company, valued at approximately $2,457,700.03. This trade represents a 1.88% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 18,941 shares of company stock worth $606,502. 0.87% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Jefferies Financial Group set a $37.00 target price on Atlantic Union Bankshares and gave the stock a "buy" rating in a research note on Wednesday, May 21st. Raymond James Financial restated a "strong-buy" rating on shares of Atlantic Union Bankshares in a report on Wednesday, July 30th. Piper Sandler lowered their price target on 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 upped their price target on Atlantic Union Bankshares from $33.00 to $34.00 and gave the stock a "market perform" rating in a report on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $38.33.

Atlantic Union Bankshares Price Performance

NASDAQ:AUB traded up $0.36 during trading hours on Tuesday, reaching $35.27. 63,914 shares of the company traded hands, compared to its average volume of 1,429,646. The firm's 50-day moving average is $32.55 and its 200-day moving average is $31.32. The stock has a market cap of $5.03 billion, a P/E ratio of 15.37 and a beta of 0.88. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.91 and a quick ratio of 0.91. Atlantic Union Bankshares Co. has a 1-year low of $22.85 and a 1-year high of $44.54.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last announced its earnings results on Thursday, July 24th. The company reported $0.95 EPS for the quarter, beating analysts' consensus estimates of $0.80 by $0.15. The firm had revenue of $377.22 million for the quarter, compared to analysts' expectations of $369.70 million. Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%.Atlantic Union Bankshares's quarterly revenue was up 92.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.63 EPS. Equities research analysts expect that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current fiscal year.

Atlantic Union Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 4th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date was Monday, August 4th. Atlantic Union Bankshares's dividend payout ratio is 66.02%.

About Atlantic Union Bankshares

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.