Graham Capital Management L.P. Sells 32,054 Shares of Atlantic Union Bankshares Co. $AUB

Key Points

• Graham Capital Management L.P. has reduced its stake in Atlantic Union Bankshares Co. by 47.4%, owning 35,565 shares valued at approximately $1,107,000 after selling 32,054 shares in Q1.
• Atlantic Union Bankshares recently reported a 92.0% year-over-year revenue increase, totaling $377.22 million, and earnings per share (EPS) of $0.95, surpassing analyst estimates.
• The company declared a quarterly dividend of $0.34 per share, representing a yield of 3.8% and a payout ratio of 66.02%.

Graham Capital Management L.P. lessened its position in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 47.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 35,565 shares of the company's stock after selling 32,054 shares during the period. Graham Capital Management L.P.'s holdings in Atlantic Union Bankshares were worth $1,107,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. NBC Securities Inc. bought a new position in Atlantic Union Bankshares during the first quarter valued at approximately $25,000. CWM LLC lifted its position in Atlantic Union Bankshares by 99.4% during the 1st quarter. CWM LLC now owns 1,049 shares of the company's stock valued at $33,000 after purchasing an additional 523 shares during the period. Investment Management Corp VA ADV acquired a new stake in Atlantic Union Bankshares during the 4th quarter worth approximately $72,000. Concord Wealth Partners grew its stake in shares of Atlantic Union Bankshares by 304.1% during the 1st quarter. Concord Wealth Partners now owns 2,728 shares of the company's stock worth $85,000 after acquiring an additional 2,053 shares in the last quarter. Finally, ORG Wealth Partners LLC bought a new position in shares of Atlantic Union Bankshares in the first quarter valued at $100,000. Institutional investors own 78.58% of the company's stock.

Atlantic Union Bankshares Price Performance

Shares of AUB stock traded down $0.19 during trading hours on Monday, reaching $35.56. The company had a trading volume of 425,393 shares, compared to its average volume of 1,401,548. The company has a market capitalization of $5.07 billion, a price-to-earnings ratio of 15.53 and a beta of 0.90. Atlantic Union Bankshares Co. has a 12-month low of $22.85 and a 12-month high of $44.54. 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 moving average of $33.45 and a 200-day moving average of $31.19.

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

Atlantic Union Bankshares Announces Dividend

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

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In related news, CEO John C. Asbury bought 7,500 shares of Atlantic Union Bankshares stock in a transaction that occurred on Monday, July 28th. The stock was purchased at an average cost of $32.91 per share, with a total value of $246,825.00. Following the purchase, the chief executive officer owned 270,532 shares in the company, valued at approximately $8,903,208.12. This trade represents a 2.85% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frank Russell Ellett bought 1,441 shares of the stock in a transaction dated Friday, August 8th. The shares were acquired at an average cost of $31.49 per share, for a total transaction of $45,377.09. Following the completion of the acquisition, the director directly owned 78,047 shares of the company's stock, valued at approximately $2,457,700.03. This trade represents a 1.88% increase in their position. The disclosure for this purchase can be found here. Insiders purchased 18,941 shares of company stock valued at $606,502 over the last quarter. 0.87% of the stock is currently owned by corporate 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.