Atlantic Union Bankshares Co. $AUB Holdings Raised by Inspire Investing LLC

Key Points

• Inspire Investing LLC boosted its Atlantic Union Bankshares stake by 1,372% in the first quarter, ending with 47,912 shares worth about $1.71 million.
• Institutional ownership remains heavy, with large investors such as State Street, North Reef Capital, and Goldman Sachs increasing positions; overall, institutions hold 78.58% of the stock.
• Analysts are mixed but cautiously positive, with a consensus rating of Moderate Buy and an average price target of $43.62 as AUB trades near its 52-week high.

Inspire Investing LLC lifted its position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 1,372.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,912 shares of the company's stock after acquiring an additional 44,657 shares during the period. Inspire Investing LLC's holdings in Atlantic Union Bankshares were worth $1,712,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. State Street Corp increased its stake in Atlantic Union Bankshares by 24.5% during the second quarter. State Street Corp now owns 7,400,456 shares of the company's stock valued at $231,486,000 after purchasing an additional 1,457,647 shares during the last quarter. North Reef Capital Management LP lifted its position in shares of Atlantic Union Bankshares by 23.1% in the 4th quarter. North Reef Capital Management LP now owns 4,572,090 shares of the company's stock worth $161,395,000 after buying an additional 858,486 shares during the last quarter. T. Rowe Price Investment Management Inc. acquired a new position in shares of Atlantic Union Bankshares in the 4th quarter valued at about $87,022,000. American Century Companies Inc. grew its position in shares of Atlantic Union Bankshares by 7.8% during the 3rd quarter. American Century Companies Inc. now owns 2,393,318 shares of the company's stock valued at $84,460,000 after buying an additional 174,122 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of 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 valued at $66,548,000 after buying an additional 565,564 shares during the last quarter. 78.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AUB. Morgan Stanley raised their target price on shares of Atlantic Union Bankshares from $42.00 to $45.00 and gave the stock an "equal weight" rating in a report on Monday. 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. TD Cowen increased their price target on 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 price target on Atlantic Union Bankshares from $45.00 to $46.00 and gave the stock an "overweight" rating in a report on Thursday, June 11th. Finally, Zacks Research lowered Atlantic Union Bankshares from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 31st. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Atlantic Union Bankshares currently has an average rating of "Moderate Buy" and a consensus price target of $43.62.

Atlantic Union Bankshares Stock Performance

AUB opened at $42.34 on Wednesday. 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 business's 50 day moving average is $38.34 and its 200-day moving average is $37.75. The stock has a market cap of $6.06 billion, a PE ratio of 18.49 and a beta of 0.80. Atlantic Union Bankshares Co. has a twelve month low of $30.39 and a twelve month high of $42.53.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last issued its quarterly earnings data on Tuesday, April 21st. The company reported $0.89 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 business had revenue of $371.71 million during the quarter, compared to the consensus estimate of $391.24 million. During the same period last year, the company earned $0.90 earnings per share. On average, analysts predict that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current year.

Atlantic Union Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were paid a $0.37 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $1.48 annualized dividend and a dividend yield of 3.5%. Atlantic Union Bankshares's dividend payout ratio is presently 62.71%.

Insider Activity

In other Atlantic Union Bankshares news, Director Nancy H. Agee purchased 650 shares of the stock in a transaction dated Monday, April 20th. The shares were bought at an average cost of $39.05 per share, with a total value of $25,382.50. Following the completion of the acquisition, the director 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.96% of the company's stock.

About Atlantic Union Bankshares

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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