AlphaQuest LLC Increases Stock Holdings in Atlantic Union Bankshares Co. $AUB

Key Points

• AlphaQuest LLC increased its stake in Atlantic Union Bankshares by 493.8% in Q1, owning 0.10% of the company worth approximately $2.7 million.
• Several institutional investors, including Vanguard Group and Ameriprise Financial, have also boosted their holdings, reflecting strong institutional interest with 78.58% of the stock owned by hedge funds and other institutions.
• Atlantic Union Bankshares reported better-than-expected earnings, with an EPS of $0.95, which exceeded analyst estimates of $0.80, alongside a 92% year-over-year revenue increase.

AlphaQuest LLC lifted its stake in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 493.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 86,730 shares of the company's stock after purchasing an additional 72,123 shares during the quarter. AlphaQuest LLC owned 0.10% of Atlantic Union Bankshares worth $2,701,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. NBC Securities Inc. bought a new position in Atlantic Union Bankshares in the 1st quarter worth about $25,000. CWM LLC boosted its stake in Atlantic Union Bankshares by 99.4% in the 1st 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 bought a new position in Atlantic Union Bankshares in the 4th quarter worth about $72,000. Concord Wealth Partners boosted its stake in Atlantic Union Bankshares by 304.1% in the 1st 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, ORG Wealth Partners LLC bought a new position in Atlantic Union Bankshares in the 1st quarter worth about $100,000. Institutional investors own 78.58% of the company's stock.

Atlantic Union Bankshares Trading Up 1.5%

Shares of Atlantic Union Bankshares stock traded up $0.52 during trading on Wednesday, reaching $35.67. 303,710 shares of the stock were exchanged, compared to its average volume of 1,427,388. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.13. The stock's fifty day moving average is $32.65 and its 200 day moving average is $31.35. The firm has a market cap of $5.08 billion, a price-to-earnings ratio of 15.58 and a beta of 0.88. 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 posted its earnings results on Thursday, July 24th. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.80 by $0.15. Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.50%. The firm had revenue of $377.22 million during the quarter, compared to analysts' expectations of $369.70 million. During the same period last year, the company posted $0.63 EPS. The company's quarterly revenue was up 92.0% compared to the same quarter last year. As a group, 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 paid a dividend of $0.34 per share. The ex-dividend date was Monday, August 4th. This represents a $1.36 annualized dividend and a yield of 3.8%. Atlantic Union Bankshares's dividend payout ratio is currently 66.02%.

Insider Activity

In related news, Director Frank Russell Ellett bought 5,000 shares of the stock in a transaction on Thursday, August 7th. The shares were acquired at an average price of $31.54 per share, for a total transaction of $157,700.00. Following the purchase, the director owned 76,606 shares of the company's stock, valued at approximately $2,416,153.24. The trade was a 6.98% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John C. Asbury bought 7,500 shares of the stock in a transaction on Monday, July 28th. The shares were bought at an average price of $32.91 per share, for a total transaction of $246,825.00. Following the purchase, the chief executive officer directly owned 270,532 shares in the company, valued at approximately $8,903,208.12. This trade represents a 2.85% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 18,941 shares of company stock worth $606,502 in the last 90 days. Company insiders own 0.87% of the company's stock.

Analysts Set New Price Targets

AUB has been the subject of a number of recent analyst reports. Piper Sandler decreased their target price on Atlantic Union Bankshares from $46.00 to $45.00 and set an "overweight" rating for the company in a research report on Friday, July 25th. Keefe, Bruyette & Woods raised their target price on shares of Atlantic Union Bankshares from $33.00 to $34.00 and gave the stock a "market perform" rating in a report on Monday, August 4th. Jefferies Financial Group set a $37.00 target price on shares of Atlantic Union Bankshares and gave the stock a "buy" rating in a report on Wednesday, May 21st. Finally, Raymond James Financial restated a "strong-buy" rating on shares of Atlantic Union Bankshares in a research note on Wednesday, July 30th. 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's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $38.33.

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.