Apollon Wealth Management LLC Makes New $311,000 Investment in Atlantic Union Bankshares Co. $AUB

Key Points

• Apollon Wealth Management LLC has made a new investment of $311,000 in Atlantic Union Bankshares Co., acquiring 9,927 shares in the process.
• Several institutional investors have also increased their stakes in Atlantic Union Bankshares, with notable increases from CWM LLC and Fifth Third Bancorp.
• Atlantic Union Bankshares reported $0.95 earnings per share, exceeding analysts' expectations, alongside a 92% year-over-year revenue increase of $377.22 million.

Apollon Wealth Management LLC acquired a new position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 9,927 shares of the company's stock, valued at approximately $311,000.

Several other institutional investors have also recently made changes to their positions in AUB. CWM LLC raised its position 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 during the period. Fifth Third Bancorp grew its stake in shares of Atlantic Union Bankshares by 50.2% during the second quarter. Fifth Third Bancorp now owns 2,052 shares of the company's stock valued at $64,000 after buying an additional 686 shares during the last quarter. Concord Wealth Partners grew its stake in shares of 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 buying an additional 2,053 shares during the last quarter. ORG Wealth Partners LLC purchased a new position in Atlantic Union Bankshares during the 1st quarter valued at $100,000. Finally, Signaturefd LLC boosted its holdings in Atlantic Union Bankshares by 731.9% during the 2nd quarter. Signaturefd LLC now owns 3,577 shares of the company's stock valued at $112,000 after acquiring an additional 3,147 shares during the period. Institutional investors own 78.58% of the company's stock.

Atlantic Union Bankshares Price Performance

Shares of AUB opened at $33.95 on Friday. The company has a 50 day moving average price of $35.06 and a 200-day moving average price of $31.69. Atlantic Union Bankshares Co. has a fifty-two week low of $22.85 and a fifty-two week high of $44.54. The stock has a market capitalization of $4.84 billion, a PE ratio of 14.82 and a beta of 0.87. 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 announced its quarterly earnings results on Thursday, July 24th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.15. The firm had revenue of $377.22 million during 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 company's revenue was up 92.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.63 EPS. Equities 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 business also recently declared a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 4th were issued a $0.34 dividend. The ex-dividend date was Monday, August 4th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.0%. Atlantic Union Bankshares's dividend payout ratio (DPR) is currently 66.02%.

Wall Street Analyst Weigh In

AUB has been the subject of several research 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. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $43.00 price target (up previously from $42.00) on shares of Atlantic Union Bankshares in a research note on Friday, October 3rd. Janney Montgomery Scott began coverage on shares of Atlantic Union Bankshares in a research note on Wednesday, October 8th. They issued a "buy" rating and a $42.00 target price on the stock. Cowen started coverage on shares of Atlantic Union Bankshares in a research note on Wednesday, September 24th. They issued a "buy" rating on the stock. Finally, National Bankshares set a $46.00 price target on Atlantic Union Bankshares in a report on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $41.56.

Insider Transactions at Atlantic Union Bankshares

In related news, Director Frank Russell Ellett acquired 1,441 shares of the company's stock in a transaction that occurred on Friday, August 8th. The shares were bought at an average price of $31.49 per share, with a total value 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. This trade represents a 1.88% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John C. Asbury acquired 7,500 shares of the company's stock in a transaction that occurred on Monday, July 28th. The shares were bought at an average cost of $32.91 per share, for a total transaction of $246,825.00. Following the transaction, the chief executive officer owned 270,532 shares of the company's stock, valued at $8,903,208.12. This represents a 2.85% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 18,941 shares of company stock worth $606,502. 0.87% of the stock is owned by corporate insiders.

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.

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