Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 80.4% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 178,492 shares of the company's stock after purchasing an additional 79,537 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.20% of Atlantic Union Bankshares worth $5,558,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently bought and sold shares of AUB. North Reef Capital Management LP acquired a new stake in Atlantic Union Bankshares in the fourth quarter valued at approximately $78,942,000. Ameriprise Financial Inc. boosted its stake in shares of Atlantic Union Bankshares by 62.0% during the 4th quarter. Ameriprise Financial Inc. now owns 2,587,890 shares of the company's stock valued at $98,029,000 after buying an additional 990,583 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Atlantic Union Bankshares by 8.9% during the 1st quarter. Vanguard Group Inc. now owns 11,932,493 shares of the company's stock valued at $371,578,000 after buying an additional 978,793 shares during the last quarter. Soros Fund Management LLC purchased a new position in shares of Atlantic Union Bankshares during the 4th quarter valued at approximately $21,813,000. Finally, Stieven Capital Advisors L.P. purchased a new position in shares of Atlantic Union Bankshares during the 1st quarter valued at approximately $12,923,000. Institutional investors and hedge funds own 78.58% of the company's stock.
Insider Transactions at Atlantic Union Bankshares
In other news, CEO John C. Asbury bought 7,500 shares of the stock in a transaction that occurred on Monday, July 28th. The shares were purchased at an average cost of $32.91 per share, with a total value of $246,825.00. Following the completion of the acquisition, the chief executive officer directly owned 270,532 shares in the company, valued at approximately $8,903,208.12. The trade was a 2.85% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frank Russell Ellett purchased 5,000 shares of the company's stock in a transaction that occurred on Thursday, August 7th. The stock was bought at an average cost of $31.54 per share, for a total transaction of $157,700.00. Following the purchase, the director directly owned 76,606 shares in the company, valued at $2,416,153.24. This represents a 6.98% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 18,941 shares of company stock worth $606,502. 0.87% of the stock is owned by corporate insiders.
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 note on Wednesday, July 30th. Keefe, Bruyette & Woods raised their price objective on Atlantic Union Bankshares from $33.00 to $34.00 and gave the stock a "market perform" rating in a research note on Monday, August 4th. Piper Sandler reduced their price objective on Atlantic Union Bankshares from $46.00 to $45.00 and set an "overweight" rating on the stock in a research note on Friday, July 25th. Finally, Jefferies Financial Group set a $37.00 price objective on Atlantic Union Bankshares and gave the stock a "buy" rating in a research note on Wednesday, May 21st. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Atlantic Union Bankshares has an average rating of "Moderate Buy" and an average target price of $38.33.
Get Our Latest Analysis on AUB
Atlantic Union Bankshares Stock Performance
Shares of AUB traded down $0.62 during trading hours on Friday, reaching $33.58. 1,215,147 shares of the company's stock traded hands, compared to its average volume of 1,455,509. The firm has a market capitalization of $4.79 billion, a price-to-earnings ratio of 14.66 and a beta of 0.88. 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 twelve month low of $22.85 and a twelve month high of $44.54. The business's fifty day simple moving average is $32.22 and its two-hundred day simple moving average is $31.54.
Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The company reported $0.95 EPS for the quarter, beating analysts' consensus estimates of $0.80 by $0.15. The company had revenue of $377.22 million for the quarter, compared to analyst estimates of $369.70 million. Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%. The company's quarterly revenue was up 92.0% compared to the same quarter last year. During the same period last year, the company earned $0.63 earnings per share. Analysts predict that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current year.
Atlantic Union Bankshares Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, August 4th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend is Monday, August 4th. Atlantic Union Bankshares's payout ratio is presently 66.02%.
About Atlantic Union Bankshares
(
Free Report)
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.
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