Atlantic Union Bankshares Co. (NASDAQ:AUB) Shares Purchased by Cerity Partners LLC

Cerity Partners LLC raised its stake in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 24.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 63,097 shares of the company's stock after buying an additional 12,564 shares during the period. Cerity Partners LLC owned approximately 0.07% of Atlantic Union Bankshares worth $1,965,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of AUB. Bank of New York Mellon Corp grew its stake in Atlantic Union Bankshares by 8.8% in the 1st quarter. Bank of New York Mellon Corp now owns 1,171,836 shares of the company's stock valued at $36,491,000 after acquiring an additional 94,883 shares during the last quarter. OneDigital Investment Advisors LLC lifted its holdings in shares of Atlantic Union Bankshares by 8.7% in the first quarter. OneDigital Investment Advisors LLC now owns 6,619 shares of the company's stock valued at $206,000 after purchasing an additional 527 shares in the last quarter. Amalgamated Bank grew its position in shares of Atlantic Union Bankshares by 30.7% in the first quarter. Amalgamated Bank now owns 34,400 shares of the company's stock valued at $1,071,000 after purchasing an additional 8,073 shares during the last quarter. DAVENPORT & Co LLC increased its stake in shares of Atlantic Union Bankshares by 25.6% during the 1st quarter. DAVENPORT & Co LLC now owns 558,451 shares of the company's stock worth $17,390,000 after purchasing an additional 113,760 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Atlantic Union Bankshares during the 1st quarter worth approximately $310,000. 78.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently issued reports on AUB. Raymond James Financial raised Atlantic Union Bankshares from an "outperform" rating to a "strong-buy" rating and upped their target price for the company from $37.00 to $41.00 in a research note on Tuesday, June 10th. 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. Keefe, Bruyette & Woods decreased their price objective on Atlantic Union Bankshares from $40.00 to $33.00 and set a "market perform" rating on the stock in a research note on Monday, April 28th. Finally, Morgan Stanley initiated coverage on shares of Atlantic Union Bankshares in a research note on Wednesday, April 9th. They issued an "equal weight" rating and a $32.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $39.00.

Atlantic Union Bankshares Trading Down 1.7%

Shares of Atlantic Union Bankshares stock traded down $0.56 during trading hours on Thursday, reaching $33.12. 1,642,939 shares of the company's stock were exchanged, compared to its average volume of 1,473,995. Atlantic Union Bankshares Co. has a 52-week low of $22.85 and a 52-week high of $44.54. The company has a fifty day moving average of $31.40 and a 200-day moving average of $32.09. 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 firm has a market capitalization of $4.72 billion, a price-to-earnings ratio of 14.46 and a beta of 0.86.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last released its earnings results on Thursday, July 24th. The company reported $0.95 EPS for the quarter, beating the consensus estimate 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 firm 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 firm posted $0.63 earnings per share. The business's quarterly revenue was up 92.0% compared to the same quarter last year. Sell-side analysts forecast that Atlantic Union Bankshares Co. will post 3.26 EPS for the current fiscal year.

Atlantic Union Bankshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, August 4th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 4.11%. Atlantic Union Bankshares's dividend payout ratio (DPR) is 62.10%.

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.