Cubist Systematic Strategies LLC Sells 28,565 Shares of Atlantic Union Bankshares Co. $AUB

Key Points

• Cubist Systematic Strategies LLC reduced its stake in Atlantic Union Bankshares by 29.5%, now holding 68,189 shares valued at approximately $2.12 million.
• Atlantic Union Bankshares reported a strong quarterly performance with earnings per share of $0.95, surpassing estimates and showing a 92% increase in revenue year-over-year.
• The company recently announced a quarterly dividend of $0.34 per share, yielding 3.8%, with a payout ratio of 66.02%.

Cubist Systematic Strategies LLC cut its holdings in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 29.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 68,189 shares of the company's stock after selling 28,565 shares during the period. Cubist Systematic Strategies LLC owned 0.08% of Atlantic Union Bankshares worth $2,123,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Comerica Bank lifted its holdings in shares of Atlantic Union Bankshares by 2.2% during the fourth quarter. Comerica Bank now owns 41,494 shares of the company's stock worth $1,572,000 after buying an additional 888 shares in the last quarter. Brevan Howard Capital Management LP bought a new position in shares of Atlantic Union Bankshares during the 4th quarter worth $204,000. Cetera Investment Advisers raised its holdings in shares of Atlantic Union Bankshares by 32.1% in the 4th quarter. Cetera Investment Advisers now owns 14,627 shares of the company's stock valued at $554,000 after acquiring an additional 3,554 shares in the last quarter. Deutsche Bank AG grew its position in Atlantic Union Bankshares by 50.3% during the 4th quarter. Deutsche Bank AG now owns 77,693 shares of the company's stock worth $2,943,000 after acquiring an additional 26,000 shares during the last quarter. Finally, Graham Capital Management L.P. purchased a new position in Atlantic Union Bankshares during the fourth quarter valued at $2,561,000. 78.58% of the stock is owned by institutional investors.

Insider Activity at Atlantic Union Bankshares

In other Atlantic Union Bankshares news, Director Frank Russell Ellett acquired 1,441 shares of Atlantic Union Bankshares stock in a transaction on Friday, August 8th. The shares were purchased at an average cost of $31.49 per share, with a total value of $45,377.09. Following the completion of the purchase, the director owned 78,047 shares in the company, valued at $2,457,700.03. The trade was a 1.88% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John C. Asbury purchased 7,500 shares of Atlantic Union Bankshares stock in a transaction dated Monday, July 28th. The shares were purchased at an average cost of $32.91 per share, for a total transaction of $246,825.00. Following the completion of the transaction, the chief executive officer owned 270,532 shares of the company's stock, valued at approximately $8,903,208.12. This represents a 2.85% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 18,941 shares of company stock worth $606,502 over the last three months. 0.87% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have issued reports on the company. Jefferies Financial Group set a $37.00 price target on Atlantic Union Bankshares and gave the company a "buy" rating in a report on Wednesday, May 21st. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Atlantic Union Bankshares in a research report on Wednesday, July 30th. Piper Sandler decreased their price objective on Atlantic Union Bankshares from $46.00 to $45.00 and set an "overweight" rating for the company in a report on Friday, July 25th. Finally, Keefe, Bruyette & Woods boosted their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, Atlantic Union Bankshares currently has a consensus rating of "Moderate Buy" and a consensus price target of $38.33.

Atlantic Union Bankshares Stock Up 0.1%

NASDAQ:AUB traded up $0.02 during mid-day trading on Thursday, reaching $35.23. The stock had a trading volume of 321,520 shares, compared to its average volume of 1,388,607. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.91 and a quick ratio of 0.91. The stock's 50 day simple moving average is $33.63 and its two-hundred day simple moving average is $31.25. Atlantic Union Bankshares Co. has a 1-year low of $22.85 and a 1-year high of $44.54. The company has a market capitalization of $5.02 billion, a price-to-earnings ratio of 15.38 and a beta of 0.90.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last announced its earnings results on Thursday, July 24th. The company reported $0.95 EPS for the quarter, topping 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 for the quarter, compared to analysts' expectations of $369.70 million. During the same quarter in the previous year, the company earned $0.63 earnings per share. The firm's quarterly revenue was up 92.0% compared to the same quarter last year. Equities analysts anticipate that Atlantic Union Bankshares Co. will post 3.26 EPS for the current year.

Atlantic Union Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 4th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend was Monday, August 4th. Atlantic Union Bankshares's dividend payout ratio is currently 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.