Invesco Ltd. Boosts Stock Position in Atlantic Union Bankshares Co. $AUB

Key Points

• Invesco Ltd. increased its stake in Atlantic Union Bankshares by 207.5% in the first quarter, acquiring an additional 685,832 shares, bringing its total ownership to approximately 1.13% worth $31.65 million.
• Atlantic Union Bankshares reported $0.95 earnings per share for the last quarter, exceeding estimates and marking a 92% revenue increase compared to the same quarter last year.
• The company recently declared a quarterly dividend of $0.34, representing an annualized dividend yield of 4.0%, with a payout ratio of 66.02%.

Invesco Ltd. boosted its stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 207.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,016,402 shares of the company's stock after purchasing an additional 685,832 shares during the quarter. Invesco Ltd. owned about 1.13% of Atlantic Union Bankshares worth $31,651,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in AUB. North Reef Capital Management LP acquired a new stake in Atlantic Union Bankshares in the fourth quarter worth about $78,942,000. Ameriprise Financial Inc. boosted its holdings in Atlantic Union Bankshares by 62.0% in the fourth quarter. Ameriprise Financial Inc. now owns 2,587,890 shares of the company's stock worth $98,029,000 after acquiring an additional 990,583 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Atlantic Union Bankshares by 8.9% in the first quarter. Vanguard Group Inc. now owns 11,932,493 shares of the company's stock worth $371,578,000 after acquiring an additional 978,793 shares in the last quarter. Soros Fund Management LLC acquired a new stake in Atlantic Union Bankshares in the fourth quarter worth about $21,813,000. Finally, Stieven Capital Advisors L.P. acquired a new stake in Atlantic Union Bankshares in the first quarter worth about $12,923,000. Institutional investors own 78.58% of the company's stock.

Wall Street Analyst Weigh In

AUB has been the subject of several recent analyst reports. Keefe, Bruyette & Woods raised their price target on 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 price target on Atlantic Union Bankshares and gave the stock a "buy" rating in a report on Wednesday, May 21st. Piper Sandler reduced their price objective on Atlantic Union Bankshares from $46.00 to $45.00 and set an "overweight" rating for the company in a research note on Friday, July 25th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating on shares of Atlantic Union Bankshares in a report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $38.33.

Insider Activity at Atlantic Union Bankshares

In other Atlantic Union Bankshares news, CEO John C. Asbury acquired 7,500 shares of the business's stock in a transaction dated Monday, July 28th. The stock was acquired at an average cost of $32.91 per share, for a total transaction of $246,825.00. Following the completion of the transaction, the chief executive officer directly 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frank Russell Ellett acquired 5,000 shares of the business's stock in a transaction dated Thursday, August 7th. The stock was acquired at an average price of $31.54 per share, with a total value of $157,700.00. Following the completion of the transaction, the director directly owned 76,606 shares of the company's stock, valued at approximately $2,416,153.24. This represents a 6.98% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 18,941 shares of company stock valued at $606,502. 0.87% of the stock is owned by company insiders.

Atlantic Union Bankshares Stock Performance

AUB stock traded down $0.3220 during trading on Monday, hitting $34.9280. 840,125 shares of the company traded hands, compared to its average volume of 1,437,877. The stock's 50-day simple moving average is $32.55 and its 200 day simple moving average is $31.32. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market cap of $4.98 billion, a PE ratio of 15.25 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 announced its quarterly earnings results on Thursday, July 24th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.15. The company had revenue of $377.22 million during the quarter, compared to analysts' expectations of $369.70 million. Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%.Atlantic Union Bankshares's quarterly revenue was up 92.0% on a year-over-year basis. During the same period last year, the business earned $0.63 earnings per share. On average, equities 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 declared a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 4th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 3.9%. The ex-dividend date was Monday, August 4th. Atlantic Union Bankshares's dividend payout ratio (DPR) is currently 66.02%.

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.