Aigen Investment Management LP Takes Position in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Key Points

• Aigen Investment Management LP has acquired 24,964 shares of Atlantic Union Bankshares Co., valued at approximately $777,000, during the first quarter of the year.
• CEO John C. Asbury and Director Frank Russell Ellett both made significant stock purchases recently, indicating confidence in the company's performance.
• Atlantic Union Bankshares reported an EPS of $0.95 for the quarter, surpassing analysts' expectations, and announced a quarterly dividend of $0.34 per share with a yield of 4.3%.

Aigen Investment Management LP purchased a new position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 24,964 shares of the company's stock, valued at approximately $777,000.

A number of other institutional investors also recently bought and sold shares of the business. NBC Securities Inc. acquired a new position in shares of Atlantic Union Bankshares in the 1st quarter worth approximately $25,000. CWM LLC increased its stake 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 worth $33,000 after purchasing an additional 523 shares in the last quarter. Investment Management Corp VA ADV purchased a new position in Atlantic Union Bankshares in the 4th quarter worth $72,000. Concord Wealth Partners boosted its stake 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 acquiring an additional 2,053 shares in the last quarter. Finally, Sterling Capital Management LLC raised 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 worth $109,000 after acquiring an additional 2,573 shares during the period. 78.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on AUB. Jefferies Financial Group set a $37.00 target price on shares of Atlantic Union Bankshares and gave the stock a "buy" rating in a research note on Wednesday, May 21st. Keefe, Bruyette & Woods lifted their price target on shares of Atlantic Union Bankshares from $33.00 to $34.00 and gave the stock a "market perform" rating in a research report on Monday, August 4th. Raymond James Financial reiterated a "strong-buy" rating on shares of Atlantic Union Bankshares in a research report on Wednesday, July 30th. 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 report on Friday, July 25th. Two research 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. Based on data from MarketBeat, Atlantic Union Bankshares has a consensus rating of "Moderate Buy" and an average target price of $38.33.

Atlantic Union Bankshares Trading Down 1.8%

Shares of NASDAQ:AUB traded down $0.62 during mid-day trading on Friday, reaching $33.58. The stock had a trading volume of 682,199 shares, compared to its average volume of 1,451,877. Atlantic Union Bankshares Co. has a twelve month low of $22.85 and a twelve month high of $44.54. 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 firm has a 50 day simple moving average of $32.16 and a two-hundred day simple moving average of $31.60. The firm has a market cap of $4.79 billion, a PE ratio of 14.69 and a beta of 0.88.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.80 by $0.15. The firm 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 company's revenue for the quarter was up 92.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.63 EPS. On average, research analysts predict that Atlantic Union Bankshares Co. will post 3.26 EPS for the current fiscal year.

Atlantic Union Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, August 4th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Monday, August 4th. This represents a $1.36 annualized dividend and a dividend yield of 4.1%. Atlantic Union Bankshares's payout ratio is presently 66.02%.

Insider Buying and Selling at Atlantic Union Bankshares

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

Atlantic Union Bankshares 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.