14,708 Shares in Atlantic Union Bankshares Co. $AUB Purchased by Gilman Hill Asset Management LLC

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 acquired a new stake in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 14,708 shares of the company's stock, valued at approximately $460,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of AUB. Vanguard Group Inc. lifted its stake in shares of Atlantic Union Bankshares by 8.9% during the 1st quarter. Vanguard Group Inc. now owns 11,932,493 shares of the company's stock worth $371,578,000 after acquiring an additional 978,793 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Atlantic Union Bankshares by 152.3% during the 1st quarter. Millennium Management LLC now owns 1,136,526 shares of the company's stock worth $35,391,000 after acquiring an additional 686,137 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Atlantic Union Bankshares by 207.5% during the 1st quarter. Invesco Ltd. now owns 1,016,402 shares of the company's stock worth $31,651,000 after acquiring an additional 685,832 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Atlantic Union Bankshares by 36.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,137,072 shares of the company's stock worth $66,548,000 after acquiring an additional 565,564 shares during the last quarter. Finally, Stieven Capital Advisors L.P. bought a new stake in shares of Atlantic Union Bankshares during the 1st quarter worth approximately $12,923,000. 78.58% of the stock is owned by institutional investors.

Atlantic Union Bankshares Stock Down 0.1%

Shares of NASDAQ:AUB traded down $0.04 on Friday, reaching $36.52. The company had a trading volume of 3,452,191 shares, compared to its average volume of 1,389,823. Atlantic Union Bankshares Co. has a 52-week low of $22.85 and a 52-week high of $44.54. The firm's 50 day simple moving average is $33.93 and its 200-day simple moving average is $31.25. The firm has a market capitalization of $5.20 billion, a PE ratio of 15.95 and a beta of 0.90. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.13.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last announced 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. Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%.The business had revenue of $377.22 million for the quarter, compared to the consensus estimate of $369.70 million. During the same period last year, the business posted $0.63 EPS. The business's revenue was up 92.0% compared to the same quarter last year. As a group, analysts expect that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current fiscal year.

Atlantic Union Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 4th were issued a $0.34 dividend. The ex-dividend date was Monday, August 4th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.7%. Atlantic Union Bankshares's dividend payout ratio (DPR) is currently 66.02%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on AUB shares. Keefe, Bruyette & Woods raised their price target on Atlantic Union Bankshares from $33.00 to $34.00 and gave the stock a "market perform" rating in a research note on Monday, August 4th. Piper Sandler decreased their target price on 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. Finally, Raymond James Financial reaffirmed a "strong-buy" rating on shares of Atlantic Union Bankshares in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $38.33.

Insiders Place Their Bets

In other Atlantic Union Bankshares news, Director Frank Russell Ellett bought 5,000 shares of the company's stock in a transaction that occurred on Thursday, August 7th. The shares were purchased at an average cost of $31.54 per share, for a total transaction of $157,700.00. Following the purchase, the director directly owned 76,606 shares in the company, valued at $2,416,153.24. This represents a 6.98% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO John C. Asbury bought 7,500 shares of the company's stock in a transaction that occurred 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 completion of the purchase, the chief executive officer owned 270,532 shares in the company, valued at $8,903,208.12. The trade was a 2.85% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 18,941 shares of company stock worth $606,502 over the last quarter. Company insiders own 0.87% of the company's stock.

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.