Dimensional Fund Advisors LP Lowers Position in Atlantic Union Bankshares Co. $AUB

Key Points

• Dimensional Fund Advisors LP has reduced its stake in Atlantic Union Bankshares by 1.4%, selling 77,384 shares, and now owns approximately 5.6 million shares worth $174.5 million.
• Atlantic Union Bankshares recently reported a quarterly earnings per share (EPS) of $0.95, exceeding analysts' expectations of $0.80, and showing a significant revenue increase of 92% compared to the previous year.
• The company declared a quarterly dividend of $0.34, resulting in an annualized dividend of $1.36, with a payout ratio of 66.02% and a yield of 4.0%.

Dimensional Fund Advisors LP trimmed its position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 1.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,603,719 shares of the company's stock after selling 77,384 shares during the period. Dimensional Fund Advisors LP owned about 6.22% of Atlantic Union Bankshares worth $174,495,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Atlantic Union Bankshares by 8.9% in the first quarter. Vanguard Group Inc. now owns 11,932,493 shares of the company's stock valued at $371,578,000 after purchasing an additional 978,793 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Atlantic Union Bankshares by 62.0% during 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 last quarter. North Reef Capital Management LP acquired a new position in shares of Atlantic Union Bankshares during the 4th quarter worth approximately $78,942,000. The Manufacturers Life Insurance Company lifted its position in shares of Atlantic Union Bankshares by 6.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,723,794 shares of the company's stock valued at $65,297,000 after acquiring an additional 103,275 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of Atlantic Union Bankshares by 4.0% during the 1st quarter. Victory Capital Management Inc. now owns 1,644,177 shares of the company's stock worth $51,200,000 after purchasing an additional 63,650 shares during the last quarter. 78.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Atlantic Union Bankshares

In other Atlantic Union Bankshares news, CEO John C. Asbury purchased 7,500 shares of the stock in a transaction on Monday, July 28th. The shares were purchased 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 $8,903,208.12. This represents a 2.85% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frank Russell Ellett purchased 1,441 shares of the company's stock in a transaction dated Friday, August 8th. The stock was acquired at an average price of $31.49 per share, with a total value of $45,377.09. Following the completion of the transaction, the director owned 78,047 shares of the company's stock, valued at $2,457,700.03. This represents a 1.88% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 18,941 shares of company stock valued at $606,502. 1.16% of the stock is owned by corporate insiders.

Atlantic Union Bankshares Stock Up 5.9%

Shares of NASDAQ AUB traded up $1.9670 on Friday, hitting $35.2870. The company had a trading volume of 1,482,943 shares, compared to its average volume of 1,441,613. The firm has a market capitalization of $5.03 billion, a P/E ratio of 15.41 and a beta of 0.88. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.13. The business has a 50 day moving average of $32.46 and a two-hundred day moving average of $31.45. 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 issued its earnings results on Thursday, July 24th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.15. The firm had revenue of $377.22 million for the quarter, compared to analyst estimates of $369.70 million. Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%.The firm's revenue for the quarter was up 92.0% on a year-over-year basis. During the same period last year, the company earned $0.63 earnings per share. As a group, equities research analysts forecast that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current fiscal 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 $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Monday, August 4th. Atlantic Union Bankshares's payout ratio is presently 66.02%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Raymond James Financial restated a "strong-buy" rating on shares of Atlantic Union Bankshares in a report on Wednesday, July 30th. Piper Sandler dropped their price target on Atlantic Union Bankshares from $46.00 to $45.00 and set an "overweight" rating on the stock in a research report on Friday, July 25th. Jefferies Financial Group set a $37.00 price objective on shares of Atlantic Union Bankshares and gave the company a "buy" rating in a research note on Wednesday, May 21st. Finally, Keefe, Bruyette & Woods lifted 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 research report on Monday, August 4th. One investment 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, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $38.33.

Atlantic Union Bankshares Company 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.