Invesco Ltd. Acquires 685,832 Shares of 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. increased its stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 207.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,016,402 shares of the company's stock after buying an additional 685,832 shares during the period. Invesco Ltd. owned 1.13% of Atlantic Union Bankshares worth $31,651,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. NBC Securities Inc. acquired a new position in Atlantic Union Bankshares during the 1st quarter worth about $25,000. CWM LLC lifted its position in Atlantic Union Bankshares by 99.4% during the 1st quarter. CWM LLC now owns 1,049 shares of the company's stock worth $33,000 after buying an additional 523 shares in the last quarter. Investment Management Corp VA ADV acquired a new position in Atlantic Union Bankshares during the 4th quarter worth about $72,000. Concord Wealth Partners lifted its position in Atlantic Union Bankshares by 304.1% during the 1st quarter. Concord Wealth Partners now owns 2,728 shares of the company's stock worth $85,000 after buying an additional 2,053 shares in the last quarter. Finally, Sterling Capital Management LLC lifted its position in Atlantic Union Bankshares by 838.1% during the 4th quarter. Sterling Capital Management LLC now owns 2,880 shares of the company's stock worth $109,000 after buying an additional 2,573 shares in the last quarter. Institutional investors and hedge funds own 78.58% of the company's stock.

Atlantic Union Bankshares Trading Up 5.9%

Atlantic Union Bankshares stock traded up $1.9670 during trading hours on Friday, reaching $35.2870. 1,482,943 shares of the company's stock traded hands, compared to its average volume of 1,441,613. 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 Co. has a fifty-two week low of $22.85 and a fifty-two week high of $44.54. The firm has a market capitalization of $5.03 billion, a price-to-earnings ratio of 15.41 and a beta of 0.88. The firm's 50 day moving average is $32.46 and its 200-day moving average is $31.40.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The company reported $0.95 EPS for the quarter, beating analysts' consensus estimates 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 revenue was up 92.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.63 EPS. 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 business also recently declared a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 4th were paid a $0.34 dividend. The ex-dividend date of this dividend was Monday, August 4th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.9%. Atlantic Union Bankshares's dividend payout ratio is 66.02%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Keefe, Bruyette & Woods upped their price target on shares of Atlantic Union Bankshares from $33.00 to $34.00 and gave the stock a "market perform" rating in a research report on Monday, August 4th. Raymond James Financial restated a "strong-buy" rating on shares of Atlantic Union Bankshares in a research report on Wednesday, July 30th. Piper Sandler cut their target price on shares of Atlantic Union Bankshares from $46.00 to $45.00 and set an "overweight" rating on the stock in a research report on Friday, July 25th. Finally, Jefferies Financial Group set a $37.00 target price on shares of Atlantic Union Bankshares and gave the company a "buy" rating in a research report on Wednesday, May 21st. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $38.33.

Insider Transactions at Atlantic Union Bankshares

In related news, CEO John C. Asbury purchased 7,500 shares of the stock in a transaction dated Monday, July 28th. The stock was bought at an average cost of $32.91 per share, with a total value of $246,825.00. Following the purchase, the chief executive officer directly owned 270,532 shares in the company, valued at $8,903,208.12. The trade was a 2.85% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Frank Russell Ellett purchased 1,441 shares of the stock in a transaction dated Friday, August 8th. The stock was bought at an average cost of $31.49 per share, with a total value of $45,377.09. Following the completion of the purchase, the director owned 78,047 shares in the company, valued at $2,457,700.03. The trade was a 1.88% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 18,941 shares of company stock valued at $606,502. 0.87% of the stock is currently owned by company insiders.

Atlantic Union Bankshares Company 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.