1492 Capital Management LLC Makes New $243,000 Investment in Atlantic Union Bankshares Co. (NASDAQ:AUB)

1492 Capital Management LLC purchased a new position in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 7,809 shares of the company's stock, valued at approximately $243,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. NBC Securities Inc. acquired a new position in Atlantic Union Bankshares in the first quarter valued at about $25,000. CWM LLC raised its stake in shares of Atlantic Union Bankshares by 99.4% during the first quarter. CWM LLC now owns 1,049 shares of the company's stock worth $33,000 after buying an additional 523 shares during the last quarter. Investment Management Corp VA ADV bought a new stake in shares of Atlantic Union Bankshares during the fourth quarter worth approximately $72,000. Concord Wealth Partners grew 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 valued at $85,000 after purchasing an additional 2,053 shares during the period. Finally, ORG Wealth Partners LLC acquired a new position in Atlantic Union Bankshares during the first quarter valued at approximately $100,000. 78.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on AUB shares. Keefe, Bruyette & Woods reduced their price target on shares of Atlantic Union Bankshares from $40.00 to $33.00 and set a "market perform" rating for the company in a report on Monday, April 28th. Raymond James Financial raised shares of Atlantic Union Bankshares from an "outperform" rating to a "strong-buy" rating and increased their price objective for the company from $37.00 to $41.00 in a research report on Tuesday, June 10th. Morgan Stanley initiated 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 price objective on the stock. Piper Sandler dropped 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 research report on Friday. Finally, Jefferies Financial Group set a $37.00 price objective on shares of Atlantic Union Bankshares and gave the company a "buy" rating in a research report on Wednesday, May 21st. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $38.00.

Atlantic Union Bankshares Stock Performance

Atlantic Union Bankshares stock traded down $0.01 during midday trading on Friday, reaching $33.08. The stock had a trading volume of 1,127,331 shares, compared to its average volume of 1,471,518. The firm's 50-day moving average price is $31.45 and its 200 day moving average price is $32.07. Atlantic Union Bankshares Co. has a 12 month low of $22.85 and a 12 month high of $44.54. The firm has a market capitalization of $4.71 billion, a PE ratio of 14.44 and a beta of 0.86. 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 (NASDAQ:AUB - Get Free Report) last issued its quarterly 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 business had revenue of $377.22 million for 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 quarterly revenue was up 92.0% on a year-over-year basis. During the same period last year, the business earned $0.63 earnings per share. As a group, research analysts predict 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 disclosed a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, August 4th will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.11%. The ex-dividend date is Monday, August 4th. Atlantic Union Bankshares's dividend payout ratio (DPR) is presently 62.10%.

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.