Fort Washington Investment Advisors Inc. OH Grows Stock Holdings in Atlantic Union Bankshares Co. $AUB

Key Points

• Fort Washington Investment Advisors Inc. OH increased its stake in Atlantic Union Bankshares Co. by 10.8%, owning 439,360 shares valued at approximately $13.7 million after acquiring additional shares in the second quarter.
• Institutional investors collectively own 78.58% of Atlantic Union Bankshares, with several large investors such as Bank of New York Mellon Corp and DAVENPORT & Co LLC also boosting their stakes in the company.
• Atlantic Union Bankshares reported a 92% increase in quarterly revenue year-over-year, with earnings per share of $0.95 exceeding analysts' estimates by $0.15.

Fort Washington Investment Advisors Inc. OH boosted its stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 10.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 439,360 shares of the company's stock after purchasing an additional 42,868 shares during the period. Fort Washington Investment Advisors Inc. OH owned about 0.31% of Atlantic Union Bankshares worth $13,743,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Bank of New York Mellon Corp lifted its holdings in shares of Atlantic Union Bankshares by 8.8% during the 1st quarter. Bank of New York Mellon Corp now owns 1,171,836 shares of the company's stock valued at $36,491,000 after buying an additional 94,883 shares during the period. OneDigital Investment Advisors LLC increased its position in Atlantic Union Bankshares by 8.7% during the first quarter. OneDigital Investment Advisors LLC now owns 6,619 shares of the company's stock valued at $206,000 after acquiring an additional 527 shares during the last quarter. Amalgamated Bank lifted its holdings in Atlantic Union Bankshares by 30.7% in the first quarter. Amalgamated Bank now owns 34,400 shares of the company's stock valued at $1,071,000 after acquiring an additional 8,073 shares during the period. DAVENPORT & Co LLC boosted its position in Atlantic Union Bankshares by 25.6% in the first quarter. DAVENPORT & Co LLC now owns 558,451 shares of the company's stock worth $17,390,000 after purchasing an additional 113,760 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Atlantic Union Bankshares during the 1st quarter valued at about $310,000. Institutional investors own 78.58% of the company's stock.

Insider Buying and Selling 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 shares were purchased at an average price of $32.91 per share, with a total value of $246,825.00. Following the completion of the acquisition, 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frank Russell Ellett bought 5,000 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The shares were bought at an average cost of $31.54 per share, with a total value of $157,700.00. Following the completion of the purchase, the director directly owned 76,606 shares of the company's stock, valued at $2,416,153.24. This represents a 6.98% increase in their position. The disclosure for this purchase can be found here. Insiders bought 18,941 shares of company stock worth $606,502 in the last three months. Insiders own 0.87% of the company's stock.

Analysts Set New Price Targets

AUB has been the topic of a number of research reports. Cowen initiated coverage on shares of Atlantic Union Bankshares in a report on Wednesday. They issued a "buy" rating on the stock. National Bankshares set a $46.00 price target on shares of Atlantic Union Bankshares in a research report on Wednesday. Raymond James Financial reissued a "strong-buy" rating on shares of Atlantic Union Bankshares in a research report on Wednesday, July 30th. TD Cowen initiated coverage on Atlantic Union Bankshares in a research note on Thursday. They issued a "buy" rating and a $46.00 price objective for the company. Finally, Piper Sandler lowered their target price on Atlantic Union Bankshares from $46.00 to $45.00 and set an "overweight" rating on the stock in a research report on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Atlantic Union Bankshares has an average rating of "Moderate Buy" and an average target price of $40.25.

Atlantic Union Bankshares Trading Up 0.9%

Shares of AUB stock opened at $35.95 on Monday. 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 stock has a fifty day simple moving average of $34.23 and a two-hundred day simple moving average of $31.36. The firm has a market capitalization of $5.12 billion, a PE ratio of 15.70 and a beta of 0.90. Atlantic Union Bankshares Co. has a 52-week low of $22.85 and a 52-week high of $44.54.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The company reported $0.95 earnings per share for the quarter, topping 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 firm had revenue of $377.22 million during the quarter, compared to analyst estimates of $369.70 million. During the same quarter in the prior year, the company posted $0.63 earnings per share. The business's quarterly revenue was up 92.0% compared to the same quarter last year. On average, analysts predict that Atlantic Union Bankshares Co. will post 3.26 EPS for the current fiscal year.

Atlantic Union Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 4th were given a dividend of $0.34 per share. The ex-dividend date was Monday, August 4th. This represents a $1.36 annualized dividend and a dividend yield of 3.8%. Atlantic Union Bankshares's dividend payout ratio (DPR) is presently 66.02%.

Atlantic Union Bankshares Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.