Atlantic Union Bankshares Co. $AUB Shares Acquired by Wellington Management Group LLP

Key Points

• Wellington Management increased its Atlantic Union Bankshares stake by 20.8% in the second quarter, adding 124,135 shares to own 721,211 shares worth approximately $30.5 million. Institutional investors collectively hold 78.58% of the company.
• Atlantic Union Bankshares reported quarterly EPS of $0.94, exceeding estimates by $0.02, while revenue reached $387.57 million, up 3.1% year over year but slightly below consensus.
• The company pays a quarterly dividend of $0.37, equivalent to a 3.6% annualized yield. Analysts maintain a “Moderate Buy” consensus, with an average price target of $45.57 versus the reported share price of $40.89.

Wellington Management Group LLP raised its stake in Atlantic Union Bankshares Co. (NYSE:AUB - Free Report) by 20.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 721,211 shares of the company's stock after purchasing an additional 124,135 shares during the quarter. Wellington Management Group LLP owned about 0.50% of Atlantic Union Bankshares worth $30,514,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. IFP Advisors Inc grew its position in Atlantic Union Bankshares by 362.5% during the fourth quarter. IFP Advisors Inc now owns 740 shares of the company's stock valued at $26,000 after acquiring an additional 580 shares during the period. Commonwealth Retirement Investments LLC purchased a new position in shares of Atlantic Union Bankshares in the 4th quarter worth about $39,000. EverSource Wealth Advisors LLC lifted its stake in shares of Atlantic Union Bankshares by 504.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,542 shares of the company's stock valued at $48,000 after purchasing an additional 1,287 shares in the last quarter. Johnson Financial Group Inc. acquired a new position in shares of Atlantic Union Bankshares in the 3rd quarter valued at about $77,000. Finally, Cassaday & Co Wealth Management LLC purchased a new stake in shares of Atlantic Union Bankshares during the 1st quarter worth about $104,000. 78.58% of the stock is owned by hedge funds and other institutional investors.

Atlantic Union Bankshares Price Performance

Shares of AUB stock opened at $40.89 on Friday. The company has a market capitalization of $5.84 billion, a PE ratio of 12.21 and a beta of 0.78. The firm has a fifty day simple moving average of $41.91 and a 200-day simple moving average of $39.05. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.15. Atlantic Union Bankshares Co. has a twelve month low of $30.87 and a twelve month high of $43.62.

Atlantic Union Bankshares (NYSE:AUB - Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.02. The firm had revenue of $387.57 million for the quarter, compared to the consensus estimate of $389.06 million. Atlantic Union Bankshares had a net margin of 21.97% and a return on equity of 10.55%. The firm's quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.95 EPS. Equities research analysts anticipate that Atlantic Union Bankshares Co. will post 3.76 earnings per share for the current fiscal year.

Atlantic Union Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 7th were paid a $0.37 dividend. The ex-dividend date was Friday, August 7th. This represents a $1.48 annualized dividend and a dividend yield of 3.6%. Atlantic Union Bankshares's payout ratio is 44.18%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Piper Sandler reaffirmed an "overweight" rating and set a $47.00 price target on shares of Atlantic Union Bankshares in a research report on Wednesday, July 22nd. Weiss Ratings raised shares of Atlantic Union Bankshares from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, August 11th. TD Cowen raised their target price on shares of Atlantic Union Bankshares from $46.00 to $48.00 and gave the company a "buy" rating in a research note on Wednesday, July 22nd. Stephens restated an "overweight" rating and set a $46.00 target price on shares of Atlantic Union Bankshares in a report on Thursday, June 11th. Finally, Morgan Stanley upped their price target on shares of Atlantic Union Bankshares from $42.00 to $45.00 and gave the stock an "equal weight" rating in a research report on Monday, June 29th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Atlantic Union Bankshares has an average rating of "Moderate Buy" and a consensus price target of $45.57.

Atlantic Union Bankshares Profile

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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