Atlantic Union Bankshares Co. $AUB Shares Bought by Fort Washington Investment Advisors Inc. OH

Key Points

• Fort Washington Investment Advisors increased its stake in Atlantic Union Bankshares by 36.8% in the first quarter, buying 223,210 shares and bringing its total holding to 829,469 shares worth about $29.6 million.
• Atlantic Union Bankshares reported Q1 earnings of $0.89 per share, missing Wall Street’s $0.92 estimate, with revenue also coming in below expectations at $371.71 million.
• The company recently paid a quarterly dividend of $0.37 per share, equal to an annualized yield of about 3.5%, while analysts currently rate the stock a Moderate Buy with a consensus price target of $43.88.

Fort Washington Investment Advisors Inc. OH raised its position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 36.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 829,469 shares of the company's stock after buying an additional 223,210 shares during the period. Fort Washington Investment Advisors Inc. OH owned about 0.58% of Atlantic Union Bankshares worth $29,645,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Beacon Investment Advisors LLC lifted its stake in Atlantic Union Bankshares by 0.7% during the 4th quarter. Beacon Investment Advisors LLC now owns 34,442 shares of the company's stock worth $1,216,000 after acquiring an additional 249 shares in the last quarter. Walleye Capital LLC increased its stake in Atlantic Union Bankshares by 1.5% during the second quarter. Walleye Capital LLC now owns 22,000 shares of the company's stock worth $688,000 after purchasing an additional 322 shares during the period. Maryland State Retirement & Pension System increased its stake in Atlantic Union Bankshares by 1.7% during the fourth quarter. Maryland State Retirement & Pension System now owns 20,835 shares of the company's stock worth $735,000 after purchasing an additional 347 shares during the period. Choreo LLC lifted its position in shares of Atlantic Union Bankshares by 5.2% during the third quarter. Choreo LLC now owns 8,282 shares of the company's stock worth $292,000 after purchasing an additional 408 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its position in shares of Atlantic Union Bankshares by 3.6% during the fourth quarter. CIBC Asset Management Inc now owns 13,399 shares of the company's stock worth $473,000 after purchasing an additional 468 shares in the last quarter. Hedge funds and other institutional investors own 78.58% of the company's stock.

Insider Activity

In other news, Director Nancy H. Agee acquired 650 shares of the firm's stock in a transaction dated Monday, April 20th. The stock was acquired at an average cost of $39.05 per share, with a total value of $25,382.50. Following the transaction, the director owned 37,797 shares in the company, valued at approximately $1,475,972.85. This trade represents a 1.75% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.96% of the company's stock.

Atlantic Union Bankshares Stock Up 0.0%

AUB stock opened at $41.88 on Monday. The company's 50 day moving average price is $38.18 and its 200 day moving average price is $37.65. 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 $30.39 and a fifty-two week high of $42.18. The firm has a market capitalization of $5.99 billion, a price-to-earnings ratio of 18.29 and a beta of 0.80.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last issued its quarterly earnings results 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 firm had revenue of $371.71 million during the quarter, compared to analysts' expectations of $391.24 million. During the same quarter in the prior year, the firm earned $0.90 EPS. On average, equities research analysts anticipate that Atlantic Union Bankshares Co. will post 3.26 EPS for the current fiscal year.

Atlantic Union Bankshares Announces Dividend

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

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Stephens restated an "overweight" rating and issued a $46.00 price objective on shares of Atlantic Union Bankshares in a report on Thursday, June 11th. Zacks Research lowered shares of Atlantic Union Bankshares from a "strong-buy" rating to a "hold" rating in a report on Tuesday, March 31st. TD Cowen raised their price target on shares of Atlantic Union Bankshares from $44.00 to $45.00 and gave the company a "buy" rating in a research report on Tuesday, May 12th. Morgan Stanley boosted their price target on shares of Atlantic Union Bankshares from $44.00 to $47.00 and gave the stock an "equal weight" rating in a research note on Monday, March 2nd. Finally, Piper Sandler upped their price objective on Atlantic Union Bankshares from $45.00 to $46.00 and gave the stock an "overweight" rating in a research report on Thursday, June 11th. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Atlantic Union Bankshares has an average rating of "Moderate Buy" and a consensus price target of $43.88.

Atlantic Union Bankshares Company 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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