Vanguard Group Inc. Purchases 978,793 Shares of Atlantic Union Bankshares Co. $AUB

Key Points

• Vanguard Group Inc. increased its stake in Atlantic Union Bankshares by 8.9% during the first quarter, owning approximately 13.24% of the company’s shares, valued at $371.58 million.
• AUB is receiving mixed ratings from analysts, with a consensus target price of $38.33, indicating a "Moderate Buy" sentiment among market analysts.
• The company recently announced a quarterly dividend of $0.34 per share, yielding 4.1%, with the next payment scheduled for August 18th.

Vanguard Group Inc. grew its stake in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 8.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,932,493 shares of the company's stock after acquiring an additional 978,793 shares during the quarter. Vanguard Group Inc. owned 13.24% of Atlantic Union Bankshares worth $371,578,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. NBC Securities Inc. acquired a new position in shares of Atlantic Union Bankshares in the 1st quarter valued at approximately $25,000. CWM LLC grew its position in shares of Atlantic Union Bankshares by 99.4% in the 1st quarter. CWM LLC now owns 1,049 shares of the company's stock valued at $33,000 after purchasing an additional 523 shares during the period. Investment Management Corp VA ADV acquired a new position in shares of Atlantic Union Bankshares in the 4th quarter valued at approximately $72,000. Concord Wealth Partners grew its position in shares of Atlantic Union Bankshares by 304.1% in the 1st quarter. Concord Wealth Partners now owns 2,728 shares of the company's stock valued at $85,000 after purchasing an additional 2,053 shares during the period. Finally, ORG Wealth Partners LLC acquired a new position in shares of Atlantic Union Bankshares in the 1st quarter valued at approximately $100,000. 78.58% of the stock is owned by institutional investors.

Atlantic Union Bankshares Stock Down 1.1%

Shares of Atlantic Union Bankshares stock traded down $0.3660 on Wednesday, reaching $33.4240. 242,423 shares of the company were exchanged, compared to its average volume of 1,440,154. Atlantic Union Bankshares Co. has a one year low of $22.85 and a one year high of $44.54. The company has a market capitalization of $4.76 billion, a price-to-earnings ratio of 14.62 and a beta of 0.88. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average of $32.30 and a 200 day moving average of $31.48.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.80 by $0.15. Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%.The company had revenue of $377.22 million for the quarter, compared to analysts' expectations of $369.70 million. During the same quarter in the prior year, the business posted $0.63 EPS. The business's revenue was up 92.0% compared to the same quarter last year. On average, equities research analysts forecast that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current year.

Atlantic Union Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 4th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date was Monday, August 4th. Atlantic Union Bankshares's dividend payout ratio is 66.02%.

Wall Street Analyst Weigh In

AUB has been the subject of several research analyst reports. Raymond James Financial reiterated a "strong-buy" rating on shares of Atlantic Union Bankshares in a research report on Wednesday, July 30th. Piper Sandler decreased their price objective on Atlantic Union Bankshares from $46.00 to $45.00 and set an "overweight" rating for the company in a research report on Friday, July 25th. Keefe, Bruyette & Woods boosted their price objective on Atlantic Union Bankshares from $33.00 to $34.00 and gave the company a "market perform" rating in a research report on Monday, August 4th. Finally, Jefferies Financial Group set a $37.00 price objective on Atlantic Union Bankshares and gave the company a "buy" rating in a research report on Wednesday, May 21st. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Atlantic Union Bankshares has an average rating of "Moderate Buy" and an average price target of $38.33.

Insider Buying and Selling at Atlantic Union Bankshares

In other news, CEO John C. Asbury acquired 7,500 shares of the stock in a transaction on Monday, July 28th. The shares were purchased at an average price of $32.91 per share, for a total transaction of $246,825.00. Following the transaction, the chief executive officer directly owned 270,532 shares of the company's stock, valued at approximately $8,903,208.12. This represents a 2.85% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frank Russell Ellett acquired 5,000 shares of the stock in a transaction on Thursday, August 7th. The shares were purchased at an average price of $31.54 per share, for a total transaction of $157,700.00. Following the transaction, the director directly owned 76,606 shares in the company, valued at approximately $2,416,153.24. This trade represents a 6.98% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 18,941 shares of company stock worth $606,502 in the last quarter. Company insiders own 1.16% of the company's stock.

Atlantic Union Bankshares Company Profile

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.