Atlantic Union Bankshares Co. $AUB Stock Sold by Fort Washington Investment Advisors Inc. OH

Key Points

• Fort Washington Investment Advisors cut its Atlantic Union Bankshares stake by 14.8% in the third quarter, selling 118,009 shares and retaining 680,322 shares valued at approximately $25.8 million.
• Other institutions increased their holdings, including Bank of America, Principal Financial Group, and Wellington Management. Institutional investors collectively owned 78.58% of AUB.
• AUB was trading at $38.22, while analysts maintained a “Moderate Buy” consensus with an average price target of $46.40. The company also paid a quarterly dividend of $0.37 per share, representing a 3.9% annualized yield.

Fort Washington Investment Advisors Inc. OH decreased its stake in Atlantic Union Bankshares Co. (NYSE:AUB - Free Report) by 14.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 680,322 shares of the company's stock after selling 118,009 shares during the period. Fort Washington Investment Advisors Inc. OH owned approximately 0.48% of Atlantic Union Bankshares worth $25,818,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of AUB. Dimensional Fund Advisors LP raised its stake in Atlantic Union Bankshares by 1.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 7,635,464 shares of the company's stock valued at $272,883,000 after purchasing an additional 102,821 shares during the last quarter. Congress Asset Management Co. boosted its holdings in Atlantic Union Bankshares by 1.2% in the 3rd quarter. Congress Asset Management Co. now owns 2,531,692 shares of the company's stock valued at $96,078,000 after purchasing an additional 30,528 shares during the period. Principal Financial Group Inc. boosted its holdings in Atlantic Union Bankshares by 40.1% in the 1st quarter. Principal Financial Group Inc. now owns 951,373 shares of the company's stock valued at $34,002,000 after purchasing an additional 272,119 shares during the period. Bank of America Corp DE grew its position in Atlantic Union Bankshares by 53.4% in the 1st quarter. Bank of America Corp DE now owns 886,978 shares of the company's stock worth $31,701,000 after purchasing an additional 308,934 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in Atlantic Union Bankshares by 20.8% in the 2nd quarter. Wellington Management Group LLP now owns 721,211 shares of the company's stock worth $30,514,000 after purchasing an additional 124,135 shares during the last quarter. Institutional investors and hedge funds own 78.58% of the company's stock.

Atlantic Union Bankshares Trading Up 2.0%

AUB stock opened at $38.22 on Friday. Atlantic Union Bankshares Co. has a 1-year low of $30.87 and a 1-year high of $43.62. The firm has a market cap of $5.46 billion, a P/E ratio of 11.41 and a beta of 0.80. The business's 50 day moving average is $39.81 and its 200-day moving average is $39.49. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.15.

Atlantic Union Bankshares (NYSE:AUB - Get Free Report) last issued its earnings results on Tuesday, July 21st. The company reported $0.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.92 by $0.02. The business had revenue of $387.57 million during the quarter, compared to analysts' expectations of $389.06 million. Atlantic Union Bankshares had a return on equity of 10.55% and a net margin of 21.97%. Atlantic Union Bankshares's quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.95 EPS. Equities analysts anticipate that Atlantic Union Bankshares Co. will post 3.76 earnings per share for the current fiscal year.

Atlantic Union Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 7th were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.9%. The ex-dividend date was Friday, August 7th. Atlantic Union Bankshares's dividend payout ratio is currently 44.18%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AUB. Piper Sandler reaffirmed an "overweight" rating and set a $47.00 price objective on shares of Atlantic Union Bankshares in a research report on Wednesday, July 22nd. Morgan Stanley lifted their target price on Atlantic Union Bankshares from $49.00 to $50.00 and gave the stock an "equal weight" rating in a research report on Monday, September 28th. TD Cowen decreased their target price on Atlantic Union Bankshares from $48.00 to $44.00 and set a "buy" rating on the stock in a research report on Monday, October 5th. Finally, Weiss Ratings upgraded Atlantic Union Bankshares from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, October 8th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Atlantic Union Bankshares has an average rating of "Moderate Buy" and an average target price of $46.40.

Atlantic Union Bankshares Company Profile

Atlantic Union Bankshares Corporation NYSE: AUB is a financial services holding company headquartered in Richmond, Virginia. Its principal subsidiary, Atlantic Union Bank, provides banking and related financial services to individuals, families, businesses and institutions.

The bank offers deposit accounts, residential and commercial lending, mortgages, credit cards, cash management, treasury services and online and mobile banking. Through its wealth management and investment services, it also provides financial planning, trust, brokerage and portfolio management solutions.

Atlantic Union Bank serves customers through a network of branches and digital channels across Virginia, Maryland and North Carolina, with a focus on the Mid-Atlantic region.

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