Court Place Advisors LLC Invests $275,000 in Atlantic Union Bankshares Co. $AUB

Key Points

• Court Place Advisors LLC invested approximately $275,000 to acquire 8,798 shares of Atlantic Union Bankshares Co. in the second quarter, as reported in their 13F filing with the SEC.
• Atlantic Union Bankshares' recent quarterly earnings surpassed analysts' expectations, reporting $0.95 EPS against estimates of $0.80, contributing to a significant 92.0% revenue increase year-over-year.
• Multiple analysts have given Atlantic Union Bankshares a consensus rating of "Moderate Buy," with target prices ranging from $35.00 to $46.00, highlighting investor interest in the stock.

Court Place Advisors LLC acquired a new position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 8,798 shares of the company's stock, valued at approximately $275,000.

A number of other hedge funds also recently made changes to their positions in AUB. NBC Securities Inc. acquired a new stake in Atlantic Union Bankshares during the first quarter worth approximately $25,000. CWM LLC grew its stake in Atlantic Union Bankshares by 99.4% during the first quarter. CWM LLC now owns 1,049 shares of the company's stock worth $33,000 after purchasing an additional 523 shares during the period. Fifth Third Bancorp grew its stake in Atlantic Union Bankshares by 50.2% during the second quarter. Fifth Third Bancorp now owns 2,052 shares of the company's stock worth $64,000 after purchasing an additional 686 shares during the period. Concord Wealth Partners grew its stake in Atlantic Union Bankshares by 304.1% during the first quarter. Concord Wealth Partners now owns 2,728 shares of the company's stock worth $85,000 after purchasing an additional 2,053 shares during the period. Finally, ORG Wealth Partners LLC acquired a new stake in Atlantic Union Bankshares during the first quarter worth approximately $100,000. 78.58% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Morgan Stanley raised their target price on Atlantic Union Bankshares from $35.00 to $41.00 and gave the stock an "underperform" rating in a research note on Monday, September 29th. Janney Montgomery Scott assumed coverage on Atlantic Union Bankshares in a research note on Wednesday. They set a "buy" rating and a $42.00 target price for the company. TD Cowen assumed coverage on Atlantic Union Bankshares in a research note on Thursday, September 25th. They set a "buy" rating and a $46.00 target price for the company. Cowen started coverage on Atlantic Union Bankshares in a research note on Wednesday, September 24th. They set a "buy" rating for the company. Finally, Piper Sandler reduced their price objective on Atlantic Union Bankshares from $46.00 to $45.00 and set an "overweight" rating for the company in a research note on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Atlantic Union Bankshares currently has a consensus rating of "Moderate Buy" and an average price target of $41.56.

Atlantic Union Bankshares Trading Down 0.0%

Shares of Atlantic Union Bankshares stock opened at $36.09 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.91 and a current ratio of 0.91. Atlantic Union Bankshares Co. has a 52 week low of $22.85 and a 52 week high of $44.54. The stock has a 50 day moving average price of $34.73 and a two-hundred day moving average price of $31.57. The stock has a market capitalization of $5.14 billion, a PE ratio of 15.76 and a beta of 0.87.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The company reported $0.95 EPS for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $369.70 million. During the same quarter last year, the firm posted $0.63 earnings per share. The company's revenue for the quarter was up 92.0% compared to the same quarter last year. As a group, equities analysts anticipate that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current fiscal year.

Atlantic Union Bankshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 4th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Monday, August 4th. This represents a $1.36 annualized dividend and a dividend yield of 3.8%. Atlantic Union Bankshares's payout ratio is presently 66.02%.

Insider Activity at Atlantic Union Bankshares

In related news, CEO John C. Asbury bought 7,500 shares of the business's stock in a transaction that occurred on Monday, July 28th. The shares were bought at an average price of $32.91 per share, with a total value of $246,825.00. Following the completion of 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 ownership of the stock. The transaction 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 that occurred on Thursday, August 7th. The shares were bought at an average cost of $31.54 per share, for a total transaction of $157,700.00. Following the transaction, the director owned 76,606 shares of the company's stock, valued at $2,416,153.24. The trade was a 6.98% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 18,941 shares of company stock worth $606,502. 1.16% of the stock is owned by insiders.

About Atlantic Union Bankshares

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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