Atlantic Union Bankshares Co. $AUB Stock Holdings Trimmed by Tributary Capital Management LLC

Key Points

• Tributary Capital trimmed its position in Atlantic Union Bankshares by 7.0% to 657,791 shares, a holding worth about $23.22 million that represents ~0.46% of AUB and 2.3% of Tributary’s portfolio.
• Q4 results beat: Atlantic Union reported $0.97 EPS vs. $0.86 expected and $391.3M in revenue, and it pays a $0.37 quarterly dividend (annualized $1.48) for a ~3.8% yield with a 72.6% payout ratio.
• Shares trade around $38.85 (up 2.7%) with a $5.56B market cap and a 16.97 PE; analysts hold a consensus “Moderate Buy” and an average price target of $43.17, with several firms raising targets into the mid-$40s.

Tributary Capital Management LLC trimmed its position in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 7.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 657,791 shares of the company's stock after selling 49,329 shares during the period. Atlantic Union Bankshares accounts for 2.3% of Tributary Capital Management LLC's portfolio, making the stock its 6th biggest position. Tributary Capital Management LLC owned approximately 0.46% of Atlantic Union Bankshares worth $23,220,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tritonpoint Wealth LLC grew its stake in Atlantic Union Bankshares by 1.8% in the third quarter. Tritonpoint Wealth LLC now owns 17,522 shares of the company's stock worth $618,000 after purchasing an additional 317 shares during the period. Walleye Capital LLC grew its holdings in Atlantic Union Bankshares by 1.5% in the second quarter. Walleye Capital LLC now owns 22,000 shares of the company's stock worth $688,000 after purchasing an additional 322 shares during the period. Benson Investment Management Company Inc. grew its holdings in Atlantic Union Bankshares by 0.3% in the third quarter. Benson Investment Management Company Inc. now owns 107,665 shares of the company's stock worth $3,799,000 after purchasing an additional 355 shares during the period. Accordant Advisory Group Inc grew its holdings in Atlantic Union Bankshares by 1.0% in the third quarter. Accordant Advisory Group Inc now owns 36,245 shares of the company's stock worth $1,279,000 after purchasing an additional 364 shares during the period. Finally, Westside Investment Management Inc. grew its holdings in Atlantic Union Bankshares by 100.0% in the third quarter. Westside Investment Management Inc. now owns 780 shares of the company's stock worth $27,000 after purchasing an additional 390 shares during the period. 78.58% of the stock is owned by hedge funds and other institutional investors.

Atlantic Union Bankshares Trading Up 2.7%

Atlantic Union Bankshares stock opened at $38.85 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.91 and a quick ratio of 0.91. Atlantic Union Bankshares Co. has a one year low of $24.01 and a one year high of $42.18. The stock has a market capitalization of $5.56 billion, a PE ratio of 16.97 and a beta of 0.82. The business's fifty day moving average is $37.21 and its 200 day moving average is $36.13.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last released its quarterly earnings data on Thursday, January 22nd. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.86 by $0.11. Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%.The company had revenue of $391.33 million for the quarter, compared to analysts' expectations of $378.95 million. During the same period last year, the firm posted $0.67 earnings per share. On average, sell-side 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 Friday, February 27th. Investors of record on Friday, February 13th were issued a $0.37 dividend. The ex-dividend date was Friday, February 13th. This represents a $1.48 annualized dividend and a yield of 3.8%. Atlantic Union Bankshares's dividend payout ratio (DPR) is currently 72.55%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on AUB shares. Piper Sandler upped their price objective on shares of Atlantic Union Bankshares from $41.50 to $47.50 and gave the stock an "overweight" rating in a report on Thursday, February 5th. Zacks Research cut shares of Atlantic Union Bankshares from a "strong-buy" rating to a "hold" rating in a report on Tuesday, March 31st. Morgan Stanley increased their target price on Atlantic Union Bankshares from $44.00 to $47.00 and gave the stock an "equal weight" rating in a research note on Monday, March 2nd. Finally, Stephens increased their target price on Atlantic Union Bankshares from $43.00 to $45.00 and gave the stock an "overweight" rating in a research note on Monday, January 26th. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $43.17.

Atlantic Union Bankshares 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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