Earnest Partners LLC Sells 137,641 Shares of Atlantic Union Bankshares Co. $AUB

Key Points

• Earnest Partners cut its stake in Atlantic Union Bankshares by 5.1%, selling 137,641 shares and now holds 2,582,532 shares (1.81%) worth about $91.14 million.
• Company results & dividend: Atlantic Union reported $0.97 EPS (vs. $0.86 est.) and $391.33M revenue for the quarter, and pays a $0.37 quarterly dividend (4.3% yield; 72.55% payout ratio).
• Market and analyst view: Shares trade near $34.28 with a $4.89B market cap and a consensus "Moderate Buy" target of $42.85 after several firms raised price targets into the mid-$40s.

Earnest Partners LLC reduced its position in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 5.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,582,532 shares of the company's stock after selling 137,641 shares during the period. Earnest Partners LLC owned 1.81% of Atlantic Union Bankshares worth $91,138,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Westside Investment Management Inc. raised its holdings in shares of Atlantic Union Bankshares by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 780 shares of the company's stock worth $27,000 after acquiring an additional 390 shares in the last quarter. Farther Finance Advisors LLC raised its stake in Atlantic Union Bankshares by 309.5% during the third quarter. Farther Finance Advisors LLC now owns 864 shares of the company's stock valued at $30,000 after purchasing an additional 653 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its position in Atlantic Union Bankshares by 64.8% during the second quarter. Nomura Asset Management Co. Ltd. now owns 1,533 shares of the company's stock valued at $48,000 after purchasing an additional 603 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Atlantic Union Bankshares by 504.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,542 shares of the company's stock worth $48,000 after buying an additional 1,287 shares in the last quarter. Finally, Abich Financial Wealth Management LLC bought a new stake in shares of Atlantic Union Bankshares in the 3rd quarter worth about $50,000. Hedge funds and other institutional investors own 78.58% of the company's stock.

Atlantic Union Bankshares Trading Down 0.4%

Shares of NASDAQ AUB opened at $34.28 on Friday. Atlantic Union Bankshares Co. has a fifty-two week low of $22.85 and a fifty-two week high of $42.18. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market cap of $4.89 billion, a price-to-earnings ratio of 14.97 and a beta of 0.82. The business's 50 day moving average price is $38.46 and its 200-day moving average price is $36.04.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last announced its quarterly earnings data on Thursday, January 22nd. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.86 by $0.11. Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%.The company had revenue of $391.33 million for the quarter, compared to the consensus estimate of $378.95 million. During the same quarter in the prior year, the company posted $0.67 EPS. On average, sell-side analysts expect that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current year.

Atlantic Union Bankshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 13th were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend was Friday, February 13th. Atlantic Union Bankshares's dividend payout ratio (DPR) is currently 72.55%.

Wall Street Analysts Forecast Growth

AUB has been the subject of a number of analyst reports. Piper Sandler increased their price target on shares of Atlantic Union Bankshares from $41.50 to $47.50 and gave the company an "overweight" rating in a report on Thursday, February 5th. Morgan Stanley upped their price objective on Atlantic Union Bankshares from $44.00 to $47.00 and gave the company an "equal weight" rating in a research report on Monday, March 2nd. Raymond James Financial set a $45.00 price objective on Atlantic Union Bankshares in a research note on Thursday, December 11th. Stephens boosted their target price on Atlantic Union Bankshares from $43.00 to $45.00 and gave the company an "overweight" rating in a research report on Monday, January 26th. Finally, TD Cowen restated a "buy" rating on shares of Atlantic Union Bankshares in a report on Thursday, December 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, Atlantic Union Bankshares has a consensus rating of "Moderate Buy" and a consensus target price of $42.85.

Atlantic Union Bankshares Profile

Atlantic Union Bankshares, Inc is a bank holding company headquartered in Richmond, Virginia, operating through its principal subsidiary Atlantic Union Bank. The company offers a full suite of commercial and consumer banking services to individuals, businesses and institutions across Virginia, Maryland, North Carolina and the District of Columbia. Leveraging a network of full-service branches, commercial lending offices and digital platforms, Atlantic Union Bankshares focuses on relationship-driven solutions tailored to its regional client base.

Atlantic Union's product lineup includes traditional deposit accounts, such as checking, savings and money market accounts, along with certificates of deposit.

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