Envestnet Asset Management Inc. Trims Stock Holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Envestnet Asset Management Inc. lowered its position in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 4.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 350,573 shares of the company's stock after selling 15,441 shares during the quarter. Envestnet Asset Management Inc. owned 0.39% of Atlantic Union Bankshares worth $10,917,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. HighPoint Advisor Group LLC raised its holdings in shares of Atlantic Union Bankshares by 5.2% in the fourth quarter. HighPoint Advisor Group LLC now owns 6,292 shares of the company's stock worth $244,000 after acquiring an additional 312 shares during the last quarter. OneDigital Investment Advisors LLC increased its position in Atlantic Union Bankshares by 8.7% during the 1st quarter. OneDigital Investment Advisors LLC now owns 6,619 shares of the company's stock worth $206,000 after purchasing an additional 527 shares in the last quarter. Xponance Inc. raised its stake in Atlantic Union Bankshares by 9.5% in the 4th quarter. Xponance Inc. now owns 6,424 shares of the company's stock valued at $243,000 after purchasing an additional 556 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in Atlantic Union Bankshares by 1.9% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 30,755 shares of the company's stock valued at $958,000 after purchasing an additional 575 shares in the last quarter. Finally, Canal Capital Management LLC lifted its holdings in Atlantic Union Bankshares by 1.0% in the 4th quarter. Canal Capital Management LLC now owns 60,280 shares of the company's stock valued at $2,283,000 after purchasing an additional 599 shares in the last quarter. Institutional investors and hedge funds own 78.58% of the company's stock.

Analyst Upgrades and Downgrades

AUB has been the subject of a number of recent research reports. Raymond James Financial upgraded shares of Atlantic Union Bankshares from an "outperform" rating to a "strong-buy" rating and lifted their price target for the stock from $37.00 to $41.00 in a report on Tuesday, June 10th. Jefferies Financial Group set a $37.00 target price on shares of Atlantic Union Bankshares and gave the stock a "buy" rating in a research note on Wednesday, May 21st. Keefe, Bruyette & Woods reduced their price target on Atlantic Union Bankshares from $40.00 to $33.00 and set a "market perform" rating on the stock in a research note on Monday, April 28th. Finally, Morgan Stanley assumed coverage on Atlantic Union Bankshares in a report on Wednesday, April 9th. They set an "equal weight" rating and a $32.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $39.00.

Atlantic Union Bankshares Trading Down 1.7%

Shares of AUB traded down $0.56 during mid-day trading on Thursday, reaching $33.12. The company had a trading volume of 1,642,939 shares, compared to its average volume of 1,473,995. The stock has a market cap of $4.72 billion, a price-to-earnings ratio of 14.46 and a beta of 0.86. 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 firm has a fifty day simple moving average of $31.40 and a 200-day simple moving average of $32.09. Atlantic Union Bankshares Co. has a fifty-two week low of $22.85 and a fifty-two week high of $44.54.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last posted its quarterly 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. The firm had revenue of $377.22 million during the quarter, compared to the consensus estimate 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 quarterly revenue was up 92.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.63 earnings per share. On average, sell-side analysts anticipate that Atlantic Union Bankshares Co. will post 3.26 EPS for the current fiscal year.

Atlantic Union Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, August 4th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 4.11%. Atlantic Union Bankshares's payout ratio is 62.10%.

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.