Atlantic Union Bankshares Co. $AUB Stake Increased by Systematic Financial Management LP

Key Points

• Systematic Financial Management LP increased its stake in Atlantic Union Bankshares by 3.7% during the first quarter, owning a total of 543,940 shares worth approximately $16.94 million.
• Atlantic Union Bankshares reported a quarterly earnings per share (EPS) of $0.95, exceeding analysts' expectations of $0.80, with revenue up 92.0% year-over-year, totaling $377.22 million.
• The company also declared a quarterly dividend of $0.34 per share, translating to an annualized 3.9% yield for shareholders.

Systematic Financial Management LP lifted its holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 3.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 543,940 shares of the company's stock after purchasing an additional 19,475 shares during the quarter. Systematic Financial Management LP owned 0.60% of Atlantic Union Bankshares worth $16,938,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. NBC Securities Inc. bought a new stake in Atlantic Union Bankshares in the first quarter worth $25,000. CWM LLC lifted its holdings in shares of Atlantic Union Bankshares by 99.4% during the first quarter. CWM LLC now owns 1,049 shares of the company's stock worth $33,000 after purchasing an additional 523 shares during the period. Investment Management Corp VA ADV purchased a new position in Atlantic Union Bankshares in the 4th quarter valued at $72,000. Concord Wealth Partners grew its holdings in Atlantic Union Bankshares by 304.1% in the 1st quarter. Concord Wealth Partners now owns 2,728 shares of the company's stock valued at $85,000 after buying an additional 2,053 shares in the last quarter. Finally, ORG Wealth Partners LLC purchased a new stake in Atlantic Union Bankshares in the 1st quarter valued at $100,000. 78.58% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on AUB shares. Piper Sandler lowered their price target on Atlantic Union Bankshares from $46.00 to $45.00 and set an "overweight" rating for the company in a report on Friday, July 25th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Atlantic Union Bankshares in a research report on Wednesday, July 30th. Jefferies Financial Group set a $37.00 target price on Atlantic Union Bankshares and gave the company a "buy" rating in a research report on Wednesday, May 21st. Finally, Keefe, Bruyette & Woods increased their price target 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 investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Atlantic Union Bankshares presently has a consensus rating of "Moderate Buy" and a consensus target price of $38.33.

Insider Buying and Selling

In other news, Director Frank Russell Ellett purchased 5,000 shares of the firm's stock in a transaction on Thursday, August 7th. The stock was purchased at an average cost of $31.54 per share, with a total value of $157,700.00. Following the purchase, the director owned 76,606 shares in the company, valued at $2,416,153.24. This trade represents a 6.98% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO John C. Asbury acquired 7,500 shares of Atlantic Union Bankshares 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 owned 270,532 shares in the company, valued at approximately $8,903,208.12. This represents a 2.85% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 18,941 shares of company stock valued at $606,502 over the last three months. Corporate insiders own 0.87% of the company's stock.

Atlantic Union Bankshares Trading Down 1.0%

AUB stock traded down $0.37 during trading on Thursday, reaching $35.32. 211,179 shares of the stock traded hands, compared to its average volume of 1,423,232. The business's 50 day moving average price is $32.77 and its 200-day moving average price is $31.38. Atlantic Union Bankshares Co. has a 52-week low of $22.85 and a 52-week high of $44.54. 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 firm has a market capitalization of $5.03 billion, a PE ratio of 15.42 and a beta of 0.88.

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

Atlantic Union Bankshares Dividend Announcement

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

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.