Atlantic Union Bankshares Co. $AUB Shares Acquired by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP increased its stake in Atlantic Union Bankshares Co. by 189.2%, now holding 198,854 shares worth approximately $6.2 million.
• Several other institutional investors have also increased their holdings, with 78.58% of the company's stock owned by institutional investors and hedge funds.
• Atlantic Union Bankshares declared a quarterly dividend of $0.34 per share, representing a 4.0% dividend yield and a payout ratio of 66.02%.

Quantbot Technologies LP increased its position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 189.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 198,854 shares of the company's stock after purchasing an additional 130,095 shares during the quarter. Quantbot Technologies LP owned 0.22% of Atlantic Union Bankshares worth $6,192,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Northern Trust Corp increased its position in shares of Atlantic Union Bankshares by 35.5% in the first quarter. Northern Trust Corp now owns 1,573,946 shares of the company's stock valued at $49,013,000 after buying an additional 412,730 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Atlantic Union Bankshares by 19.3% in the 1st quarter. American Century Companies Inc. now owns 1,259,864 shares of the company's stock worth $39,232,000 after buying an additional 203,791 shares in the last quarter. Public Sector Pension Investment Board grew its stake in Atlantic Union Bankshares by 84.5% in the 1st quarter. Public Sector Pension Investment Board now owns 412,816 shares of the company's stock valued at $12,855,000 after acquiring an additional 189,110 shares during the last quarter. Nuveen LLC purchased a new position in Atlantic Union Bankshares during the 1st quarter valued at about $11,316,000. Finally, Aigen Investment Management LP acquired a new position in Atlantic Union Bankshares during the first quarter worth about $777,000. 78.58% of the stock is currently owned by hedge funds and other institutional investors.

Atlantic Union Bankshares Trading Up 5.9%

Shares of 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 were exchanged, compared to its average volume of 1,441,613. Atlantic Union Bankshares Co. has a 52-week low of $22.85 and a 52-week high of $44.54. The company has a fifty day moving average of $32.46 and a 200-day moving average of $31.45. 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 firm has a market capitalization of $5.03 billion, a price-to-earnings ratio of 15.41 and a beta of 0.88.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last released its earnings results on Thursday, July 24th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.80 by $0.15. Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%.The firm had revenue of $377.22 million during the quarter, compared to analyst estimates of $369.70 million. During the same period in the prior year, the firm posted $0.63 earnings per share. The business's quarterly revenue was up 92.0% compared to the same quarter last year. Sell-side analysts forecast that Atlantic Union Bankshares Co. will post 3.26 EPS for the current fiscal year.

Atlantic Union Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 4th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Monday, August 4th. Atlantic Union Bankshares's dividend payout ratio is presently 66.02%.

Analyst Ratings Changes

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

Insider Activity

In related news, Director Frank Russell Ellett purchased 5,000 shares of the firm's stock in a transaction on Thursday, August 7th. The shares were bought at an average price of $31.54 per share, for a total transaction of $157,700.00. Following the acquisition, the director directly owned 76,606 shares in the company, valued at $2,416,153.24. This trade represents a 6.98% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CEO John C. Asbury acquired 7,500 shares of the stock in a transaction dated Monday, July 28th. The shares were bought at an average cost of $32.91 per share, with a total value of $246,825.00. Following the completion of the purchase, the chief executive officer directly owned 270,532 shares in the company, valued at approximately $8,903,208.12. This trade represents a 2.85% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 18,941 shares of company stock worth $606,502. Insiders own 0.87% of the company's stock.

About Atlantic Union Bankshares

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.