Atlantic Union Bankshares Co. $AUB Stake Lifted by Stieven Capital Advisors L.P.

Key Points

• Stieven Capital Advisors increased its Atlantic Union Bankshares stake by 8.5% in the fourth quarter, buying 58,300 more shares and bringing its holdings to 742,657 shares worth about $26.2 million.
• Institutional ownership remains heavy, with hedge funds and other institutional investors holding 78.58% of the stock. Several firms, including State Street, North Reef Capital Management and Goldman Sachs, also boosted their positions recently.
• Atlantic Union Bankshares posted mixed fundamentals: quarterly EPS of $0.89 missed estimates, but the company still announced a $0.37 quarterly dividend, implying a 3.9% annualized yield.

Stieven Capital Advisors L.P. boosted its holdings in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 8.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 742,657 shares of the company's stock after purchasing an additional 58,300 shares during the period. Atlantic Union Bankshares makes up 4.9% of Stieven Capital Advisors L.P.'s investment portfolio, making the stock its 5th largest holding. Stieven Capital Advisors L.P. owned about 0.52% of Atlantic Union Bankshares worth $26,216,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of AUB. State Street Corp increased its stake in shares of Atlantic Union Bankshares by 24.5% during the second quarter. State Street Corp now owns 7,400,456 shares of the company's stock worth $231,486,000 after acquiring an additional 1,457,647 shares during the period. North Reef Capital Management LP lifted its position in Atlantic Union Bankshares by 35.0% in the third quarter. North Reef Capital Management LP now owns 3,713,604 shares of the company's stock valued at $131,053,000 after purchasing an additional 963,604 shares during the period. American Century Companies Inc. boosted its holdings in Atlantic Union Bankshares by 7.8% in the 3rd quarter. American Century Companies Inc. now owns 2,393,318 shares of the company's stock valued at $84,460,000 after purchasing an additional 174,122 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Atlantic Union Bankshares by 36.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,137,072 shares of the company's stock valued at $66,548,000 after purchasing an additional 565,564 shares in the last quarter. Finally, Congress Asset Management Co. increased its position in Atlantic Union Bankshares by 4.7% during the 4th quarter. Congress Asset Management Co. now owns 1,964,949 shares of the company's stock worth $69,363,000 after purchasing an additional 87,761 shares during the period. 78.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on AUB shares. Piper Sandler reduced their price target on Atlantic Union Bankshares from $47.50 to $45.00 and set an "overweight" rating for the company in a report on Wednesday, April 22nd. TD Cowen upped 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 cut Atlantic Union Bankshares from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 31st. Morgan Stanley raised their target price on Atlantic Union Bankshares from $44.00 to $47.00 and gave the company an "equal weight" rating in a report on Monday, March 2nd. Finally, Stephens boosted their target price on shares of Atlantic Union Bankshares from $43.00 to $45.00 and gave the stock an "overweight" rating in a research report on Monday, January 26th. 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, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $43.63.

Insider Buying and Selling

In related news, Director Nancy H. Agee acquired 650 shares of the firm's stock in a transaction that occurred on Monday, April 20th. The shares were purchased at an average price of $39.05 per share, with a total value of $25,382.50. Following the completion of the acquisition, the director owned 37,797 shares in the company, valued at approximately $1,475,972.85. This represents a 1.75% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.96% of the company's stock.

Atlantic Union Bankshares Stock Down 0.3%

AUB stock opened at $37.55 on Friday. The company has a market cap of $5.37 billion, a P/E ratio of 16.40 and a beta of 0.80. Atlantic Union Bankshares Co. has a 52 week low of $28.11 and a 52 week high of $42.18. The company's 50-day moving average price is $36.67 and its 200 day moving average price is $36.63. 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 (NASDAQ:AUB - Get Free Report) last released 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 analysts' expectations of $391.24 million. Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%.During the same period in the prior year, the firm posted $0.90 EPS. On average, research analysts expect that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current fiscal year.

Atlantic Union Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 22nd will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $1.48 dividend on an annualized basis and a yield of 3.9%. Atlantic Union Bankshares's payout ratio is currently 62.71%.

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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