1492 Capital Management LLC Buys 26,426 Shares of Atlantic Union Bankshares Co. $AUB

Key Points

• 1492 Capital Management increased its stake in Atlantic Union Bankshares by 40.8% in the first quarter, buying 26,426 additional shares to bring its total to 91,151 shares worth about $3.26 million.
• Other institutional investors also added to their positions, and institutions now own 78.58% of the company’s shares. Insider ownership remains relatively small at 0.96%.
• Atlantic Union Bankshares recently reported quarterly EPS of $0.89, missing estimates, while analysts maintain a Moderate Buy view with an average target price of $43.88. The company also paid a quarterly dividend of $0.37 per share, implying a 3.5% yield.

1492 Capital Management LLC grew its stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 40.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 91,151 shares of the company's stock after purchasing an additional 26,426 shares during the quarter. 1492 Capital Management LLC owned about 0.06% of Atlantic Union Bankshares worth $3,258,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Schroder Investment Management Group boosted its stake in shares of Atlantic Union Bankshares by 9.4% during the 3rd quarter. Schroder Investment Management Group now owns 731,359 shares of the company's stock worth $26,036,000 after acquiring an additional 62,614 shares during the period. William Blair Investment Management LLC increased its holdings in shares of Atlantic Union Bankshares by 5.0% during the 3rd quarter. William Blair Investment Management LLC now owns 1,021,450 shares of the company's stock worth $36,047,000 after acquiring an additional 48,270 shares during the last quarter. UBS Group AG raised its stake in Atlantic Union Bankshares by 10.9% in the 4th quarter. UBS Group AG now owns 475,259 shares of the company's stock valued at $16,777,000 after acquiring an additional 46,867 shares during the period. Congress Asset Management Co. raised its stake in Atlantic Union Bankshares by 4.7% in the 4th quarter. Congress Asset Management Co. now owns 1,964,949 shares of the company's stock valued at $69,363,000 after acquiring an additional 87,761 shares during the period. Finally, Sovran Advisors LLC acquired a new stake in Atlantic Union Bankshares during the 4th quarter valued at $1,204,000. Institutional investors own 78.58% of the company's stock.

Insider Buying and Selling

In other Atlantic Union Bankshares news, Director Nancy H. Agee bought 650 shares of the business's stock in a transaction on Monday, April 20th. The stock was purchased at an average cost of $39.05 per share, for a total transaction of $25,382.50. Following the completion of the purchase, the director directly owned 37,797 shares of the company's stock, valued at approximately $1,475,972.85. This trade represents a 1.75% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 0.96% of the stock is currently owned by corporate insiders.

Atlantic Union Bankshares Trading Up 0.5%

Shares of AUB stock opened at $41.88 on Friday. The stock has a market cap of $5.99 billion, a P/E ratio of 18.29 and a beta of 0.80. Atlantic Union Bankshares Co. has a 1 year low of $30.39 and a 1 year high of $42.18. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.13. The stock has a 50 day simple moving average of $38.18 and a 200 day simple moving average of $37.63.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last released its earnings results on Tuesday, April 21st. The company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.03). Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%.The company had revenue of $371.71 million for the quarter, compared to analyst estimates of $391.24 million. During the same period last year, the company posted $0.90 earnings per share. On average, research 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 company also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 22nd were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.5%. The ex-dividend date was Friday, May 22nd. Atlantic Union Bankshares's payout ratio is currently 62.71%.

Analyst Ratings Changes

AUB has been the subject of a number of research analyst reports. TD Cowen lifted their price objective on shares of Atlantic Union Bankshares from $44.00 to $45.00 and gave the stock a "buy" rating in a research report on Tuesday, May 12th. Piper Sandler raised their target price on shares of Atlantic Union Bankshares from $45.00 to $46.00 and gave the stock an "overweight" rating in a research note on Thursday, June 11th. Stephens reaffirmed an "overweight" rating and set a $46.00 target price on shares of Atlantic Union Bankshares in a report on Thursday, June 11th. Zacks Research lowered shares of Atlantic Union Bankshares from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, March 31st. Finally, Morgan Stanley raised their price objective on shares of Atlantic Union Bankshares from $44.00 to $47.00 and gave the stock an "equal weight" rating in a research report on Monday, March 2nd. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $43.88.

Atlantic Union Bankshares Profile

Atlantic Union Bankshares, Inc is a bank holding company headquartered in Richmond, Virginia, operating through its principal subsidiary Atlantic Union Bank. The company offers a full suite of commercial and consumer banking services to individuals, businesses and institutions across Virginia, Maryland, North Carolina and the District of Columbia. Leveraging a network of full-service branches, commercial lending offices and digital platforms, Atlantic Union Bankshares focuses on relationship-driven solutions tailored to its regional client base.

Atlantic Union's product lineup includes traditional deposit accounts, such as checking, savings and money market accounts, along with certificates of deposit.

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