Systematic Financial Management LP Grows Stock Holdings in Atlantic Union Bankshares Co. $AUB

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 boosted its stake in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 3.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 543,940 shares of the company's stock after purchasing an additional 19,475 shares during the quarter. Systematic Financial Management LP owned about 0.60% of Atlantic Union Bankshares worth $16,938,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of AUB. Xponance Inc. grew its holdings in shares of Atlantic Union Bankshares by 5.8% during the first quarter. Xponance Inc. now owns 6,798 shares of the company's stock valued at $212,000 after buying an additional 374 shares during the last quarter. CWM LLC lifted its position 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 valued at $33,000 after purchasing an additional 523 shares in the last quarter. OneDigital Investment Advisors LLC lifted its position in shares of Atlantic Union Bankshares by 8.7% during the first quarter. OneDigital Investment Advisors LLC now owns 6,619 shares of the company's stock valued at $206,000 after purchasing an additional 527 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in shares of Atlantic Union Bankshares by 1.9% during the first quarter. Oppenheimer Asset Management Inc. now owns 30,755 shares of the company's stock valued at $958,000 after purchasing an additional 575 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of Atlantic Union Bankshares by 3.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 19,130 shares of the company's stock valued at $596,000 after purchasing an additional 614 shares in the last quarter. 78.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AUB. Piper Sandler dropped their price target 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. Jefferies Financial Group set a $37.00 price objective on shares of Atlantic Union Bankshares and gave the company a "buy" rating in a research note on Wednesday, May 21st. Keefe, Bruyette & Woods increased their target price on Atlantic Union Bankshares from $33.00 to $34.00 and gave the company a "market perform" rating in a research note on Monday, August 4th. Finally, Raymond James Financial reissued a "strong-buy" rating on shares of Atlantic Union Bankshares in a research report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Atlantic Union Bankshares has an average rating of "Moderate Buy" and a consensus target price of $38.33.

Atlantic Union Bankshares Stock Performance

NASDAQ AUB traded up $0.31 during trading hours on Tuesday, hitting $35.22. 859,625 shares of the company's stock traded hands, compared to its average volume of 1,434,570. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.13. Atlantic Union Bankshares Co. has a 52 week low of $22.85 and a 52 week high of $44.54. The firm has a market capitalization of $5.02 billion, a P/E ratio of 15.38 and a beta of 0.88. The business's fifty day moving average price is $32.55 and its two-hundred day moving average price is $31.32.

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

Atlantic Union Bankshares Announces Dividend

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

Insider Buying and Selling at Atlantic Union Bankshares

In other Atlantic Union Bankshares news, Director Frank Russell Ellett purchased 5,000 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The shares were bought at an average price of $31.54 per share, with a total value of $157,700.00. Following the completion of the purchase, 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO John C. Asbury purchased 7,500 shares of the firm's stock in a transaction that occurred on Monday, July 28th. The shares were acquired at an average cost of $32.91 per share, for a total transaction of $246,825.00. Following the purchase, the chief executive officer owned 270,532 shares of the company's stock, valued at $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 bought 18,941 shares of company stock worth $606,502 in the last three months. 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.