Atlantic Union Bankshares Co. (NASDAQ:AUB) Shares Sold by Burkehill Global Management LP

Key Points

• Burkehill Global Management LP reduced its stake in Atlantic Union Bankshares by 50%, selling 250,000 shares, leaving it with 250,000 shares valued at approximately $7.78 million.
• The company's CEO, John C. Asbury, recently purchased 7,500 shares of Atlantic Union Bankshares stock, indicating insider confidence in the company’s performance.
• Atlantic Union Bankshares announced a quarterly dividend of $0.34 per share, representing an annualized yield of 4.2%, with a payout ratio of 66.02%.

Burkehill Global Management LP lowered its stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 50.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 250,000 shares of the company's stock after selling 250,000 shares during the quarter. Burkehill Global Management LP owned about 0.28% of Atlantic Union Bankshares worth $7,785,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. North Reef Capital Management LP purchased a new stake in Atlantic Union Bankshares in the 4th quarter valued at approximately $78,942,000. Ameriprise Financial Inc. boosted its holdings in Atlantic Union Bankshares by 62.0% in the 4th quarter. Ameriprise Financial Inc. now owns 2,587,890 shares of the company's stock valued at $98,029,000 after purchasing an additional 990,583 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Atlantic Union Bankshares by 8.9% in the 1st quarter. Vanguard Group Inc. now owns 11,932,493 shares of the company's stock valued at $371,578,000 after purchasing an additional 978,793 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Atlantic Union Bankshares by 207.5% during the 1st quarter. Invesco Ltd. now owns 1,016,402 shares of the company's stock worth $31,651,000 after acquiring an additional 685,832 shares in the last quarter. Finally, Soros Fund Management LLC purchased a new stake in shares of Atlantic Union Bankshares during the 4th quarter worth approximately $21,813,000. Hedge funds and other institutional investors own 78.58% of the company's stock.

Analyst Ratings Changes

AUB has been the topic of several research analyst reports. Raymond James Financial reissued a "strong-buy" rating on shares of Atlantic Union Bankshares in a research note on Wednesday, July 30th. Keefe, Bruyette & Woods boosted their price target 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. Jefferies Financial Group set a $37.00 price target on Atlantic Union Bankshares and gave the stock a "buy" rating in a research note on Wednesday, May 21st. Finally, Piper Sandler decreased their price target 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. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Atlantic Union Bankshares has a consensus rating of "Moderate Buy" and an average price target of $38.33.

Atlantic Union Bankshares Stock Down 0.3%

NASDAQ:AUB traded down $0.09 during mid-day trading on Monday, hitting $31.95. The company had a trading volume of 839,939 shares, compared to its average volume of 1,463,622. The business has a fifty day simple moving average of $31.92 and a 200-day simple moving average of $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 Co. has a 1 year low of $22.85 and a 1 year high of $44.54. The firm has a market capitalization of $4.55 billion, a price-to-earnings ratio of 13.95 and a beta of 0.88.

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

Atlantic Union Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, August 4th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Monday, August 4th. Atlantic Union Bankshares's dividend payout ratio is presently 66.02%.

Insider Transactions at Atlantic Union Bankshares

In other news, CEO John C. Asbury acquired 7,500 shares of the firm's stock in a transaction on Monday, July 28th. The stock was bought at an average cost of $32.91 per share, with a total value of $246,825.00. Following the transaction, the chief executive officer directly owned 270,532 shares in the company, valued at approximately $8,903,208.12. This represents a 2.85% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Frank Russell Ellett bought 5,000 shares of the business's stock in a transaction dated Thursday, August 7th. The stock was bought at an average price of $31.54 per share, for a total transaction of $157,700.00. Following the purchase, the director owned 76,606 shares in the company, valued at approximately $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 three months, insiders acquired 18,941 shares of company stock valued at $606,502. 0.87% of the stock is currently owned by corporate insiders.

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.