First National Advisers LLC Invests $342,000 in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Key Points

• First National Advisers LLC acquired 10,998 shares of Atlantic Union Bankshares Co., valued at approximately $342,000, during the first quarter of the year.
• Atlantic Union Bankshares reported earnings of $0.95 per share, exceeding analysts' expectations of $0.80, with a revenue increase of 92.0% year-over-year.
• The company declared a dividend of $0.34 per share, representing an annualized dividend of $1.36 and a yield of 4.11%, to be paid to investors on August 18th.

First National Advisers LLC bought a new position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 10,998 shares of the company's stock, valued at approximately $342,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. North Reef Capital Management LP acquired a new position in Atlantic Union Bankshares in the fourth quarter valued at approximately $78,942,000. Ameriprise Financial Inc. lifted its stake in shares of Atlantic Union Bankshares by 62.0% in the 4th 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. Schroder Investment Management Group acquired a new position in shares of Atlantic Union Bankshares in the 4th quarter worth approximately $25,490,000. Soros Fund Management LLC acquired a new position in shares of Atlantic Union Bankshares in the 4th quarter worth approximately $21,813,000. Finally, Stieven Capital Advisors L.P. acquired a new position in Atlantic Union Bankshares during the first quarter worth $12,923,000. Institutional investors and hedge funds own 78.58% of the company's stock.

Analyst Upgrades and Downgrades

AUB has been the topic of several research reports. Jefferies Financial Group set a $37.00 target price on 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 shares of Atlantic Union Bankshares from $40.00 to $33.00 and set a "market perform" rating on the stock in a research report on Monday, April 28th. Raymond James Financial reiterated a "strong-buy" rating on shares of Atlantic Union Bankshares in a report on Wednesday. Piper Sandler reduced 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. Finally, Morgan Stanley began coverage on Atlantic Union Bankshares in a research note on Wednesday, April 9th. They issued 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 issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Atlantic Union Bankshares has a consensus rating of "Moderate Buy" and a consensus target price of $38.17.

Atlantic Union Bankshares Stock Down 1.3%

Shares of AUB traded down $0.44 during midday trading on Thursday, reaching $31.80. The stock had a trading volume of 332,915 shares, compared to its average volume of 1,458,535. Atlantic Union Bankshares Co. has a 1-year low of $22.85 and a 1-year high of $44.54. 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 company has a market cap of $4.53 billion, a price-to-earnings ratio of 13.88 and a beta of 0.86. The company's fifty day simple moving average is $31.60 and its two-hundred day simple moving average is $32.00.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The company reported $0.95 EPS for the quarter, topping 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 firm had revenue of $377.22 million for the quarter, compared to analyst estimates of $369.70 million. During the same period last year, the business earned $0.63 EPS. Atlantic Union Bankshares's revenue for the quarter was up 92.0% compared to the same quarter last year. Equities research analysts expect that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current year.

Atlantic Union Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Shareholders 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 yield of 4.28%. Atlantic Union Bankshares's dividend payout ratio is presently 66.02%.

Insider Transactions at Atlantic Union Bankshares

In related news, CEO John C. Asbury purchased 7,500 shares of the company's stock in a transaction that occurred on Monday, July 28th. The shares were purchased at an average price of $32.91 per share, for a total transaction of $246,825.00. Following the transaction, the chief executive officer directly owned 270,532 shares of the company's stock, valued at approximately $8,903,208.12. The trade was a 2.85% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.87% of the stock is owned by company insiders.

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.