Gilman Hill Asset Management LLC Invests $460,000 in Atlantic Union Bankshares Co. $AUB

Key Points

• Gilman Hill Asset Management LLC acquired 14,708 shares of Atlantic Union Bankshares Co. during the 2nd quarter, valued at approximately $460,000.
• Insider activities include CEO John C. Asbury purchasing 7,500 shares for $246,825 and Director Frank Russell Ellett buying 5,000 shares for $157,700, increasing their ownership in the company.
• Analysts have a positive outlook on Atlantic Union Bankshares, with a current average rating of "Moderate Buy" and an average price target of $38.33 following their recent earnings beat.

Gilman Hill Asset Management LLC purchased a new stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 14,708 shares of the company's stock, valued at approximately $460,000.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Atlantic Union Bankshares by 8.9% during the first quarter. Vanguard Group Inc. now owns 11,932,493 shares of the company's stock worth $371,578,000 after purchasing an additional 978,793 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Atlantic Union Bankshares by 6.3% during the first quarter. Ameriprise Financial Inc. now owns 2,751,341 shares of the company's stock valued at $85,676,000 after purchasing an additional 163,451 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Atlantic Union Bankshares by 36.0% during the first quarter. Goldman Sachs Group Inc. now owns 2,137,072 shares of the company's stock valued at $66,548,000 after purchasing an additional 565,564 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Atlantic Union Bankshares by 4.0% during the first quarter. Victory Capital Management Inc. now owns 1,644,177 shares of the company's stock valued at $51,200,000 after purchasing an additional 63,650 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of Atlantic Union Bankshares by 35.5% during the first quarter. Northern Trust Corp now owns 1,573,946 shares of the company's stock valued at $49,013,000 after purchasing an additional 412,730 shares in the last quarter. 78.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AUB has been the subject of a number of analyst reports. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Atlantic Union Bankshares in a research note on Wednesday, July 30th. Keefe, Bruyette & Woods raised their price target on shares of Atlantic Union Bankshares from $33.00 to $34.00 and gave the company a "market perform" rating in a research report on Monday, August 4th. Jefferies Financial Group set a $37.00 price target on shares of Atlantic Union Bankshares and gave the company a "buy" rating in a research report on Wednesday, May 21st. Finally, Piper Sandler reduced their price target on shares of Atlantic Union Bankshares from $46.00 to $45.00 and set an "overweight" rating for the company in a research report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $38.33.

Insider Buying and Selling at Atlantic Union Bankshares

In related news, CEO John C. Asbury purchased 7,500 shares of the firm's stock in a transaction on Monday, July 28th. The shares were acquired at an average price of $32.91 per share, for a total transaction of $246,825.00. Following the purchase, the chief executive officer directly owned 270,532 shares in the company, valued at $8,903,208.12. This trade represents a 2.85% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Frank Russell Ellett purchased 1,441 shares of the firm's stock in a transaction on Friday, August 8th. The stock was bought at an average price of $31.49 per share, for a total transaction of $45,377.09. Following the purchase, the director owned 78,047 shares in the company, valued at approximately $2,457,700.03. This represents a 1.88% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 18,941 shares of company stock worth $606,502. Corporate insiders own 1.16% of the company's stock.

Atlantic Union Bankshares Stock Performance

Shares of Atlantic Union Bankshares stock traded up $1.33 on Thursday, hitting $36.55. 1,157,550 shares of the company's stock were exchanged, compared to its average volume of 1,378,237. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.91 and a current ratio of 0.91. Atlantic Union Bankshares Co. has a 1 year low of $22.85 and a 1 year high of $44.54. The company has a 50-day simple moving average of $33.86 and a 200-day simple moving average of $31.25. The stock has a market capitalization of $5.21 billion, a PE ratio of 15.96 and a beta of 0.90.

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 analysts' consensus estimates 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 company had revenue of $377.22 million for the quarter, compared to analysts' expectations of $369.70 million. During the same quarter in the previous year, the company earned $0.63 EPS. Atlantic Union Bankshares's revenue for the quarter was up 92.0% on a year-over-year basis. As a group, equities analysts anticipate that Atlantic Union Bankshares Co. will post 3.26 EPS for the current year.

Atlantic Union Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 4th were paid a $0.34 dividend. The ex-dividend date was Monday, August 4th. This represents a $1.36 annualized dividend and a yield of 3.7%. Atlantic Union Bankshares's payout ratio is presently 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.