Atlantic Union Bankshares Co. $AUB Shares Sold by Blue Trust Inc.

Key Points

• Blue Trust Inc. slashed its Atlantic Union Bankshares stake by 97.3% in the first quarter, selling 48,463 shares and leaving just 1,320 shares worth about $47,000.
• Atlantic Union Bankshares recently reported mixed quarterly results, with EPS of $0.89 missing analyst estimates and revenue of $371.71 million also coming in below expectations.
• The company continues to pay a quarterly dividend of $0.37 per share, equal to an annualized yield of 3.5%, while analysts currently rate the stock a consensus Moderate Buy with a $43.62 price target.

Blue Trust Inc. decreased its holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 97.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,320 shares of the company's stock after selling 48,463 shares during the quarter. Blue Trust Inc.'s holdings in Atlantic Union Bankshares were worth $47,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. purchased a new position in shares of Atlantic Union Bankshares in the 4th quarter valued at about $87,022,000. SG Americas Securities LLC increased its holdings in Atlantic Union Bankshares by 6,808.0% in the fourth quarter. SG Americas Securities LLC now owns 1,532,473 shares of the company's stock valued at $54,096,000 after buying an additional 1,510,289 shares in the last quarter. State Street Corp increased its holdings in Atlantic Union Bankshares by 24.5% in the second quarter. State Street Corp now owns 7,400,456 shares of the company's stock valued at $231,486,000 after buying an additional 1,457,647 shares in the last quarter. North Reef Capital Management LP lifted its position in shares of Atlantic Union Bankshares by 35.0% during the 3rd quarter. North Reef Capital Management LP now owns 3,713,604 shares of the company's stock valued at $131,053,000 after acquiring an additional 963,604 shares during the period. Finally, Aristotle Capital Boston LLC acquired a new stake in shares of Atlantic Union Bankshares during the 4th quarter valued at approximately $22,169,000. Institutional investors and hedge funds own 78.58% of the company's stock.

Atlantic Union Bankshares Stock Performance

NASDAQ AUB opened at $42.27 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.13. Atlantic Union Bankshares Co. has a fifty-two week low of $30.39 and a fifty-two week high of $43.62. The business has a fifty day moving average of $38.53 and a 200-day moving average of $37.83. The stock has a market cap of $6.05 billion, a price-to-earnings ratio of 18.46 and a beta of 0.78.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last posted its quarterly earnings data on Tuesday, April 21st. The company reported $0.89 EPS for the quarter, missing analysts' consensus estimates of $0.92 by ($0.03). The company had revenue of $371.71 million for the quarter, compared to analyst estimates of $391.24 million. Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.50%. During the same period in the previous year, the business earned $0.90 EPS. As a group, analysts predict that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current fiscal year.

Atlantic Union Bankshares Dividend Announcement

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

Wall Street Analysts Forecast Growth

AUB has been the subject of several research reports. TD Cowen lifted their price objective on Atlantic Union Bankshares from $44.00 to $45.00 and gave the stock a "buy" rating in a report on Tuesday, May 12th. Zacks Research lowered Atlantic Union Bankshares from a "strong-buy" rating to a "hold" rating in a report on Tuesday, March 31st. Piper Sandler raised their price target on Atlantic Union Bankshares from $45.00 to $46.00 and gave the company an "overweight" rating in a research report on Thursday, June 11th. Stephens reaffirmed an "overweight" rating and set a $46.00 price target on shares of Atlantic Union Bankshares in a research note on Thursday, June 11th. Finally, Morgan Stanley boosted their price objective 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. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $43.62.

Insider Activity at Atlantic Union Bankshares

In other news, Director Nancy H. Agee acquired 650 shares of the business's stock in a transaction dated Monday, April 20th. The stock was acquired at an average price of $39.05 per share, with a total value of $25,382.50. Following the completion of the transaction, the director directly owned 37,797 shares in the company, valued at approximately $1,475,972.85. This represents a 1.75% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.96% of the stock is currently owned by company insiders.

About Atlantic Union Bankshares

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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