Evermay Wealth Management LLC Has $425,000 Stock Holdings in Atlantic Union Bankshares Co. $AUB

Key Points

• Evermay Wealth Management LLC has increased its stake in Atlantic Union Bankshares by 339.3%, now owning 13,601 shares valued at $425,000.
• CEO John C. Asbury purchased 7,500 shares of Atlantic Union Bankshares at an average price of $32.91 each, enhancing his ownership by 2.85%.
• The company reported earnings of $0.95 per share, exceeding expectations, with a revenue increase of 92.0% year-over-year.

Evermay Wealth Management LLC lifted its position in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 339.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,601 shares of the company's stock after acquiring an additional 10,505 shares during the period. Evermay Wealth Management LLC's holdings in Atlantic Union Bankshares were worth $425,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of AUB. SG Americas Securities LLC acquired a new stake in Atlantic Union Bankshares during the 1st quarter worth approximately $310,000. Wealth Enhancement Advisory Services LLC raised its holdings in Atlantic Union Bankshares by 3.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 19,130 shares of the company's stock worth $596,000 after buying an additional 614 shares during the period. Oppenheimer Asset Management Inc. raised its holdings in Atlantic Union Bankshares by 1.9% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 30,755 shares of the company's stock worth $958,000 after buying an additional 575 shares during the period. Asset Management One Co. Ltd. acquired a new stake in Atlantic Union Bankshares during the 1st quarter worth approximately $196,000. Finally, Illinois Municipal Retirement Fund raised its holdings in Atlantic Union Bankshares by 3.7% during the 1st quarter. Illinois Municipal Retirement Fund now owns 50,285 shares of the company's stock worth $1,566,000 after buying an additional 1,774 shares during the period. 78.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Atlantic Union Bankshares

In other news, CEO John C. Asbury bought 7,500 shares of the firm's stock in a transaction that occurred on Monday, July 28th. The stock was acquired 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 acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Frank Russell Ellett purchased 5,000 shares of the business's stock in a transaction on Thursday, August 7th. The shares were acquired at an average cost of $31.54 per share, with a total value of $157,700.00. Following the acquisition, the director directly owned 76,606 shares in the company, valued at approximately $2,416,153.24. The trade was a 6.98% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 18,941 shares of company stock valued at $606,502 over the last three months. 0.87% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

AUB has been the topic of several research analyst reports. Piper Sandler dropped their target price on shares of Atlantic Union Bankshares from $46.00 to $45.00 and set an "overweight" rating on the stock in a report on Friday, July 25th. Keefe, Bruyette & Woods raised their target price on shares of Atlantic Union Bankshares from $33.00 to $34.00 and gave the stock a "market perform" rating in a report on Monday, August 4th. Cowen started coverage on shares of Atlantic Union Bankshares in a research note on Wednesday, September 24th. They set a "buy" rating for the company. Raymond James Financial reaffirmed a "strong-buy" rating and set a $43.00 price target (up from $42.00) on shares of Atlantic Union Bankshares in a research note on Friday, October 3rd. Finally, National Bankshares set a $46.00 price target on shares of Atlantic Union Bankshares in a research note on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Atlantic Union Bankshares has an average rating of "Moderate Buy" and an average price target of $41.56.

Atlantic Union Bankshares Price Performance

NASDAQ:AUB opened at $33.95 on Monday. Atlantic Union Bankshares Co. has a 1-year low of $22.85 and a 1-year high of $44.54. 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 $35.06 and a 200 day simple moving average of $31.73. The stock has a market capitalization of $4.84 billion, a PE ratio of 14.82 and a beta of 0.87.

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, beating the consensus estimate of $0.80 by $0.15. Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.50%. The business had revenue of $377.22 million during the quarter, compared to analysts' expectations of $369.70 million. During the same period last year, the business earned $0.63 earnings per share. The firm's revenue was up 92.0% on a year-over-year basis. On average, research analysts expect that Atlantic Union Bankshares Co. will post 3.26 EPS for the current fiscal year.

Atlantic Union Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 18th. Investors 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 annualized dividend and a dividend yield of 4.0%. Atlantic Union Bankshares's dividend payout ratio (DPR) is currently 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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