Atlantic Union Bankshares Co. (NASDAQ:AUB) Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management Ltd. has increased its stake in Atlantic Union Bankshares Co. by 80.4% in the first quarter, owning approximately $5.56 million worth of shares.
• CEO John C. Asbury purchased 7,500 shares of Atlantic Union Bankshares stock, representing a 2.85% increase in his ownership.
• Atlantic Union Bankshares recently announced a quarterly dividend of $0.34 per share, reflecting an annualized yield of 4.1%.

Connor Clark & Lunn Investment Management Ltd. boosted its stake in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 80.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 178,492 shares of the company's stock after acquiring an additional 79,537 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.20% of Atlantic Union Bankshares worth $5,558,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. NBC Securities Inc. acquired a new position in Atlantic Union Bankshares in the first quarter valued at approximately $25,000. CWM LLC increased its stake 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 acquiring an additional 523 shares in the last quarter. Investment Management Corp VA ADV bought a new stake in shares of Atlantic Union Bankshares in the 4th quarter valued at $72,000. Concord Wealth Partners lifted its position in shares of Atlantic Union Bankshares by 304.1% during the 1st quarter. Concord Wealth Partners now owns 2,728 shares of the company's stock valued at $85,000 after acquiring an additional 2,053 shares during the period. Finally, Sterling Capital Management LLC boosted its stake in Atlantic Union Bankshares by 838.1% during the fourth quarter. Sterling Capital Management LLC now owns 2,880 shares of the company's stock worth $109,000 after acquiring an additional 2,573 shares in the last quarter. Institutional investors and hedge funds own 78.58% of the company's stock.

Insider Transactions at Atlantic Union Bankshares

In other news, Director Frank Russell Ellett acquired 1,441 shares of the business's stock in a transaction that occurred on Friday, August 8th. The shares were bought at an average cost of $31.49 per share, with a total value of $45,377.09. Following the transaction, the director owned 78,047 shares of the company's stock, valued at $2,457,700.03. This trade represents a 1.88% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO John C. Asbury acquired 7,500 shares of Atlantic Union Bankshares stock in a transaction on Monday, July 28th. The shares were purchased at an average price of $32.91 per share, with a total value of $246,825.00. Following the completion of the purchase, the chief executive officer owned 270,532 shares in the company, valued at $8,903,208.12. This represents a 2.85% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 18,941 shares of company stock worth $606,502. Corporate insiders own 0.87% of the company's stock.

Atlantic Union Bankshares Trading Down 1.8%

Shares of AUB traded down $0.62 during mid-day trading on Friday, reaching $33.58. The company's stock had a trading volume of 1,215,147 shares, compared to its average volume of 1,455,509. Atlantic Union Bankshares Co. has a 52 week low of $22.85 and a 52 week high of $44.54. The stock has a market cap of $4.79 billion, a PE ratio of 14.66 and a beta of 0.88. The company's fifty day moving average price is $32.16 and its two-hundred day moving average price is $31.60. 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 posted its earnings results on Thursday, July 24th. The company reported $0.95 earnings per share for the quarter, topping analysts' consensus estimates of $0.80 by $0.15. Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.50%. The company had revenue of $377.22 million during the quarter, compared to analyst estimates of $369.70 million. During the same period in the prior year, the business posted $0.63 earnings per share. Atlantic Union Bankshares's revenue for the quarter was up 92.0% on a year-over-year basis. On average, 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 firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, August 4th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Monday, August 4th. Atlantic Union Bankshares's dividend payout ratio is 66.02%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AUB. Jefferies Financial Group set a $37.00 price objective on shares of Atlantic Union Bankshares and gave the company a "buy" rating in a research note on Wednesday, May 21st. Raymond James Financial restated a "strong-buy" rating on shares of Atlantic Union Bankshares in a report on Wednesday, July 30th. Piper Sandler cut their price target on Atlantic Union Bankshares from $46.00 to $45.00 and set an "overweight" rating for the company in a research note on Friday, July 25th. Finally, Keefe, Bruyette & Woods boosted their price objective on Atlantic Union Bankshares from $33.00 to $34.00 and gave the stock a "market perform" rating in a report on Monday, August 4th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $38.33.

Atlantic Union Bankshares 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.