Entropy Technologies LP Raises Stock Holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Key Points

• Entropy Technologies LP increased its stake in Atlantic Union Bankshares by 156.6% in the first quarter, owning 14,879 shares valued at $463,000 after acquiring an additional 9,080 shares.
• Several institutional investors have made significant changes to their holdings, with North Reef Capital Management LP acquiring a position valued at $78.9 million and Ameriprise Financial increasing its stake by 62% to own approximately $98 million in shares.
• The average price target for Atlantic Union Bankshares is currently $38.33, with analysts providing a consensus rating of "Moderate Buy" amid various updates and price forecasts following recent performance reports.

Entropy Technologies LP grew its stake in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 156.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,879 shares of the company's stock after acquiring an additional 9,080 shares during the quarter. Entropy Technologies LP's holdings in Atlantic Union Bankshares were worth $463,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. North Reef Capital Management LP acquired a new position in Atlantic Union Bankshares in the fourth quarter valued at $78,942,000. Ameriprise Financial Inc. increased its stake in Atlantic Union Bankshares by 62.0% in the fourth quarter. Ameriprise Financial Inc. now owns 2,587,890 shares of the company's stock valued at $98,029,000 after purchasing an additional 990,583 shares during the last quarter. 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 last quarter. Invesco Ltd. increased its stake in Atlantic Union Bankshares by 207.5% in the first quarter. Invesco Ltd. now owns 1,016,402 shares of the company's stock valued at $31,651,000 after purchasing an additional 685,832 shares during the last quarter. Finally, Soros Fund Management LLC acquired a new position in Atlantic Union Bankshares in the fourth quarter valued at $21,813,000. 78.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AUB has been the subject of several research analyst reports. Piper Sandler dropped their price target 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. Raymond James Financial restated a "strong-buy" rating on shares of Atlantic Union Bankshares in a research note on Wednesday, July 30th. Keefe, Bruyette & Woods upped their price target 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. Finally, Jefferies Financial Group set a $37.00 price target on Atlantic Union Bankshares and gave the stock a "buy" rating in a research note on Wednesday, May 21st. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Atlantic Union Bankshares presently has an average rating of "Moderate Buy" and an average price target of $38.33.

Insider Transactions at Atlantic Union Bankshares

In related news, CEO John C. Asbury bought 7,500 shares of the stock in a transaction dated Monday, July 28th. The stock was acquired at an average price of $32.91 per share, for a total transaction of $246,825.00. Following the completion of the purchase, the chief executive officer 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frank Russell Ellett bought 1,441 shares of the stock in a transaction dated Friday, August 8th. The stock was bought at an average price of $31.49 per share, with a total value of $45,377.09. Following the purchase, the director owned 78,047 shares of the company's stock, valued at approximately $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 bought 18,941 shares of company stock valued at $606,502. Insiders own 0.87% of the company's stock.

Atlantic Union Bankshares Stock Performance

Shares of NASDAQ:AUB opened at $34.29 on Thursday. The firm has a market capitalization of $4.89 billion, a PE ratio of 14.98 and a beta of 0.88. 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 business has a 50-day moving average of $32.08 and a two-hundred day moving average of $31.63. 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 posted its earnings results on Thursday, July 24th. The company reported $0.95 earnings per share (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 business had revenue of $377.22 million during the quarter, compared to analyst estimates of $369.70 million. During the same quarter last year, the firm earned $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, research analysts forecast 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 announced a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, August 4th will be paid a $0.34 dividend. The ex-dividend date is Monday, August 4th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.0%. Atlantic Union Bankshares's dividend payout ratio (DPR) 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.

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