Curi RMB Capital LLC Grows Position in Atlantic Union Bankshares Co. $AUB

Key Points

• Curi RMB Capital LLC has increased its stake in Atlantic Union Bankshares Co. by 100%, now owning a total of 50,000 shares worth approximately $1.56 million.
• The company's recent quarterly earnings reported an EPS of $0.95, surpassing estimates, and a year-over-year revenue increase of 92% to $377.22 million.
• Atlantic Union Bankshares announced a quarterly dividend of $0.34 per share, offering a dividend yield of 3.8% for investors.

Curi RMB Capital LLC boosted its stake in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 100.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 50,000 shares of the company's stock after purchasing an additional 25,000 shares during the quarter. Curi RMB Capital LLC owned approximately 0.06% of Atlantic Union Bankshares worth $1,557,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in AUB. NBC Securities Inc. bought a new stake in shares of Atlantic Union Bankshares during the first quarter valued at about $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 valued at $33,000 after acquiring an additional 523 shares in the last quarter. Investment Management Corp VA ADV purchased a new position in Atlantic Union Bankshares during the fourth quarter valued at approximately $72,000. Concord Wealth Partners increased its holdings in Atlantic Union Bankshares by 304.1% during the 1st quarter. Concord Wealth Partners now owns 2,728 shares of the company's stock worth $85,000 after acquiring an additional 2,053 shares during the period. Finally, ORG Wealth Partners LLC purchased a new stake in Atlantic Union Bankshares in the 1st quarter worth approximately $100,000. Hedge funds and other institutional investors own 78.58% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Piper Sandler reduced their price target 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. Jefferies Financial Group set a $37.00 target price on Atlantic Union Bankshares and gave the stock a "buy" rating in a research report on Wednesday, May 21st. Raymond James Financial restated a "strong-buy" rating on shares of Atlantic Union Bankshares in a research note on Wednesday, July 30th. Finally, Keefe, Bruyette & Woods lifted their price target on Atlantic Union Bankshares from $33.00 to $34.00 and gave the company a "market perform" rating in a research report on Monday, August 4th. One investment 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 stock. Based on data from MarketBeat.com, Atlantic Union Bankshares currently has an average rating of "Moderate Buy" and a consensus target price of $38.33.

Insider Buying and Selling at Atlantic Union Bankshares

In related news, CEO John C. Asbury acquired 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, with a total value 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frank Russell Ellett acquired 5,000 shares of the firm'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 acquisition, the director owned 76,606 shares of the company's stock, valued at approximately $2,416,153.24. This trade represents a 6.98% increase in their position. 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. 0.87% of the stock is owned by insiders.

Atlantic Union Bankshares Price Performance

Shares of AUB traded up $0.22 during midday trading on Thursday, reaching $35.43. The stock had a trading volume of 799,233 shares, compared to its average volume of 1,391,401. 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 company has a market capitalization of $5.05 billion, a price-to-earnings ratio of 15.47 and a beta of 0.90. The company's 50-day moving average is $33.67 and its 200 day moving average is $31.25. Atlantic Union Bankshares Co. has a 12-month low of $22.85 and a 12-month high of $44.54.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last released its earnings results on Thursday, July 24th. The company reported $0.95 earnings per share for the quarter, topping 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 company had revenue of $377.22 million during the quarter, compared to the consensus estimate of $369.70 million. During the same quarter in the previous year, the company posted $0.63 EPS. Atlantic Union Bankshares's quarterly revenue was up 92.0% compared to the same quarter last year. On average, equities analysts predict that Atlantic Union Bankshares Co. will post 3.26 EPS for the current fiscal year.

Atlantic Union Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 4th were paid a $0.34 dividend. The ex-dividend date of this dividend was Monday, August 4th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.8%. Atlantic Union Bankshares's dividend payout ratio is 66.02%.

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.