BW Gestao de Investimentos Ltda. Purchases New Shares in Atlantic Union Bankshares Co. $AUB

Key Points

• BW Gestao de Investimentos Ltda. bought a new stake in Atlantic Union Bankshares in the fourth quarter, purchasing 210,000 shares valued at about $7.4 million.
• Atlantic Union Bankshares reported Q1 earnings of $0.89 per share, missing analyst expectations of $0.92, while revenue of $371.7 million also fell short of forecasts.
• The company declared a quarterly dividend of $0.37 per share, which annualizes to $1.48 and implies a 4.0% yield.

BW Gestao de Investimentos Ltda. purchased a new stake in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 210,000 shares of the company's stock, valued at approximately $7,413,000. BW Gestao de Investimentos Ltda. owned 0.15% of Atlantic Union Bankshares as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in AUB. Envestnet Asset Management Inc. boosted its stake in Atlantic Union Bankshares by 10.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 659,791 shares of the company's stock worth $23,284,000 after purchasing an additional 64,806 shares during the last quarter. Schroder Investment Management Group boosted its stake in Atlantic Union Bankshares by 9.4% during the 3rd quarter. Schroder Investment Management Group now owns 731,359 shares of the company's stock worth $26,036,000 after purchasing an additional 62,614 shares during the last quarter. William Blair Investment Management LLC boosted its stake in Atlantic Union Bankshares by 5.0% during the 3rd quarter. William Blair Investment Management LLC now owns 1,021,450 shares of the company's stock worth $36,047,000 after purchasing an additional 48,270 shares during the last quarter. First National Bank of Omaha acquired a new stake in Atlantic Union Bankshares during the 3rd quarter worth $2,804,000. Finally, Public Sector Pension Investment Board boosted its stake in Atlantic Union Bankshares by 14.4% during the 3rd quarter. Public Sector Pension Investment Board now owns 555,896 shares of the company's stock worth $19,618,000 after purchasing an additional 70,159 shares during the last quarter. Institutional investors and hedge funds own 78.58% of the company's stock.

Atlantic Union Bankshares Stock Down 2.0%

Shares of AUB opened at $36.86 on Tuesday. The firm has a market cap of $5.28 billion, a P/E ratio of 16.10 and a beta of 0.80. Atlantic Union Bankshares Co. has a 12-month low of $29.35 and a 12-month high of $42.18. The company's 50-day moving average price is $37.08 and its 200 day moving average price is $36.87. 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 issued its quarterly earnings results on Tuesday, April 21st. The company reported $0.89 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.92 by ($0.03). The business had revenue of $371.71 million for the quarter, compared to analysts' expectations of $391.24 million. Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%.During the same quarter last year, the company earned $0.90 earnings per share. On average, sell-side 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 will be paid on Friday, June 5th. Shareholders of record on Friday, May 22nd will be paid a dividend of $0.37 per share. The ex-dividend date is Friday, May 22nd. This represents a $1.48 dividend on an annualized basis and a yield of 4.0%. Atlantic Union Bankshares's dividend payout ratio is 62.71%.

Insider Transactions at Atlantic Union Bankshares

In other Atlantic Union Bankshares news, Director Nancy H. Agee purchased 650 shares of the business's stock in a transaction on Monday, April 20th. The shares were bought at an average cost of $39.05 per share, for a total transaction of $25,382.50. Following the completion of the purchase, the director directly owned 37,797 shares of the company's stock, valued at approximately $1,475,972.85. This trade represents a 1.75% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.96% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

AUB has been the topic of several recent research reports. Piper Sandler lowered their target price on shares of Atlantic Union Bankshares from $47.50 to $45.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 22nd. Morgan Stanley lifted their target price on shares of Atlantic Union Bankshares from $44.00 to $47.00 and gave the stock an "equal weight" rating in a research note on Monday, March 2nd. Zacks Research cut shares of Atlantic Union Bankshares from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, March 31st. Finally, TD Cowen lifted their target price on shares of Atlantic Union Bankshares from $44.00 to $45.00 and gave the stock a "buy" rating in a research note on Tuesday, May 12th. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $43.63.

Atlantic Union Bankshares Company Profile

Atlantic Union Bankshares, Inc is a bank holding company headquartered in Richmond, Virginia, operating through its principal subsidiary Atlantic Union Bank. The company offers a full suite of commercial and consumer banking services to individuals, businesses and institutions across Virginia, Maryland, North Carolina and the District of Columbia. Leveraging a network of full-service branches, commercial lending offices and digital platforms, Atlantic Union Bankshares focuses on relationship-driven solutions tailored to its regional client base.

Atlantic Union's product lineup includes traditional deposit accounts, such as checking, savings and money market accounts, along with certificates of deposit.

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