Charles Schwab Investment Management Inc. Raises Position in Atlantic Union Bankshares Co. $AUB

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Atlantic Union Bankshares by 4.8%, now holding approximately 1.23% of the company valued at around $34.40 million.
• Atlantic Union Bankshares recently announced a quarterly dividend of $0.34 per share, translating to an annualized dividend yield of 4.0%.
• The company reported $0.95 earnings per share for its last quarter, exceeding analysts' estimates, with revenue rising 92% year-over-year.

Charles Schwab Investment Management Inc. lifted its position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 4.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,104,606 shares of the company's stock after purchasing an additional 50,493 shares during the period. Charles Schwab Investment Management Inc. owned 1.23% of Atlantic Union Bankshares worth $34,397,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of AUB. North Reef Capital Management LP bought a new stake in shares of Atlantic Union Bankshares in the fourth quarter worth about $78,942,000. Ameriprise Financial Inc. lifted 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 worth $98,029,000 after buying an additional 990,583 shares during the period. Vanguard Group Inc. lifted 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 worth $371,578,000 after buying an additional 978,793 shares during the period. Soros Fund Management LLC purchased a new stake in Atlantic Union Bankshares in the 4th quarter worth approximately $21,813,000. Finally, Stieven Capital Advisors L.P. purchased a new stake in Atlantic Union Bankshares in the first quarter worth $12,923,000. 78.58% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Atlantic Union Bankshares in a research note on Wednesday, July 30th. Jefferies Financial Group set a $37.00 target price on shares of Atlantic Union Bankshares and gave the stock a "buy" rating in a research report on Wednesday, May 21st. Piper Sandler dropped their target price on shares of Atlantic Union Bankshares from $46.00 to $45.00 and set an "overweight" rating for the company in a research report on Friday, July 25th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Atlantic Union Bankshares from $33.00 to $34.00 and gave the stock a "market perform" rating in a report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $38.33.

Insider Activity at Atlantic Union Bankshares

In related news, CEO John C. Asbury acquired 7,500 shares of the stock in a transaction on Monday, July 28th. The stock was acquired at an average price of $32.91 per share, for a total transaction of $246,825.00. Following the completion of the purchase, the chief executive officer owned 270,532 shares of the company's stock, valued at $8,903,208.12. This represents a 2.85% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frank Russell Ellett acquired 5,000 shares of the stock in a transaction on Thursday, August 7th. The shares were bought at an average price of $31.54 per share, with a total value of $157,700.00. Following the purchase, the director directly owned 76,606 shares of the company's stock, valued at $2,416,153.24. The trade was a 6.98% increase in their position. The disclosure for this purchase can be found here. Insiders have bought 18,941 shares of company stock valued at $606,502 over the last quarter. Company insiders own 0.87% of the company's stock.

Atlantic Union Bankshares Stock Up 5.9%

Atlantic Union Bankshares stock traded up $1.9670 on Friday, hitting $35.2870. 1,482,943 shares of the stock traded hands, compared to its average volume of 1,441,613. 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 cap of $5.03 billion, a P/E ratio of 15.41 and a beta of 0.88. The business's fifty day simple moving average is $32.46 and its 200 day simple moving average is $31.45. Atlantic Union Bankshares Co. has a 1 year low of $22.85 and a 1 year high of $44.54.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The company reported $0.95 earnings per share (EPS) for the quarter, beating 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 analysts' expectations of $369.70 million. During the same period last year, the company posted $0.63 EPS. Atlantic Union Bankshares's revenue was up 92.0% on a year-over-year basis. As a group, sell-side analysts forecast that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current year.

Atlantic Union Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 4th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Monday, August 4th. Atlantic Union Bankshares's dividend payout ratio (DPR) is presently 66.02%.

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.