AlphaCore Capital LLC Acquires New Stake in Atlantic Union Bankshares Co. $AUB

Key Points

• AlphaCore Capital opened a new position in Atlantic Union Bankshares, buying 54,972 shares valued at about $1.94 million in the fourth quarter.
• Institutional ownership remains high, with hedge funds and other large investors holding 78.58% of the stock; several firms, including SG Americas Securities and State Street, also boosted their stakes recently.
• Analyst sentiment is mixed but positive overall: the stock has a Moderate Buy consensus with an average price target of $42.89, while shares recently traded around $36.28.

AlphaCore Capital LLC purchased a new position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 54,972 shares of the company's stock, valued at approximately $1,941,000.

Several other large investors also recently bought and sold shares of AUB. SG Americas Securities LLC increased its holdings in Atlantic Union Bankshares by 6,808.0% during the 4th quarter. SG Americas Securities LLC now owns 1,532,473 shares of the company's stock worth $54,096,000 after purchasing an additional 1,510,289 shares during the period. State Street Corp increased its holdings in Atlantic Union Bankshares by 24.5% during the 2nd quarter. State Street Corp now owns 7,400,456 shares of the company's stock worth $231,486,000 after purchasing an additional 1,457,647 shares during the period. Thrivent Financial for Lutherans increased its holdings in Atlantic Union Bankshares by 1,128.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 1,398,654 shares of the company's stock worth $49,358,000 after purchasing an additional 1,284,759 shares during the period. North Reef Capital Management LP increased its holdings in Atlantic Union Bankshares by 35.0% during the 3rd quarter. North Reef Capital Management LP now owns 3,713,604 shares of the company's stock worth $131,053,000 after purchasing an additional 963,604 shares during the period. Finally, Goldman Sachs Group Inc. increased 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 purchasing an additional 565,564 shares during the period. Hedge funds and other institutional investors own 78.58% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Morgan Stanley upped their price target on Atlantic Union Bankshares from $44.00 to $47.00 and gave the stock an "equal weight" rating in a report on Monday, March 2nd. TD Cowen upped their price target on Atlantic Union Bankshares from $44.00 to $45.00 and gave the stock a "buy" rating in a report on Tuesday, May 12th. Piper Sandler cut their price target on Atlantic Union Bankshares from $47.50 to $45.00 and set an "overweight" rating on the stock in a report on Wednesday, April 22nd. Zacks Research downgraded Atlantic Union Bankshares from a "strong-buy" rating to a "hold" rating in a report on Tuesday, March 31st. Finally, Stephens upped their price target on Atlantic Union Bankshares from $43.00 to $45.00 and gave the stock an "overweight" rating in a report on Monday, January 26th. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $42.89.

Atlantic Union Bankshares Trading Down 0.2%

NASDAQ:AUB opened at $36.28 on Monday. The stock has a 50-day simple moving average of $36.50 and a 200-day simple moving average of $36.50. The stock has a market cap of $5.19 billion, a P/E ratio of 15.84 and a beta of 0.80. Atlantic Union Bankshares Co. has a 1 year low of $28.11 and a 1 year high of $42.18. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.91 and a current ratio of 0.91.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last released its quarterly earnings data 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). The business had revenue of $371.71 million for the quarter, compared to analyst estimates of $391.24 million. Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%.During the same period in the prior year, the company posted $0.90 earnings per share. As a group, analysts anticipate that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current fiscal year.

Atlantic Union Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 22nd will be given a $0.37 dividend. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.1%. Atlantic Union Bankshares's dividend payout ratio is 62.71%.

Insider Activity

In other news, Director Nancy H. Agee bought 650 shares of the firm's stock in a transaction that occurred on Monday, April 20th. The stock was purchased at an average cost of $39.05 per share, with a total value of $25,382.50. Following the transaction, the director directly owned 37,797 shares in the company, valued at $1,475,972.85. This trade represents a 1.75% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.96% of the stock is currently owned by company insiders.

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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