GSA Capital Partners LLP Boosts Stock Holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Key Points

• GSA Capital Partners LLP increased its stake in Atlantic Union Bankshares by 33.1% during the first quarter, owning a total of 46,805 shares valued at approximately $1.46 million.
• Atlantic Union Bankshares will pay a quarterly dividend of $0.34 on August 18th, which represents a yield of 4.13%.
• The company reported earnings of $0.95 per share for the last quarter, surpassing estimates and marking a significant revenue increase of 92% compared to the same period last year.

GSA Capital Partners LLP increased its position in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 33.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,805 shares of the company's stock after acquiring an additional 11,631 shares during the period. GSA Capital Partners LLP owned approximately 0.05% of Atlantic Union Bankshares worth $1,458,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AUB. NBC Securities Inc. purchased a new position in shares of Atlantic Union Bankshares during the 1st quarter valued at about $25,000. CWM LLC grew its position in shares of 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 acquiring an additional 523 shares during the period. Investment Management Corp VA ADV acquired a new stake in shares of Atlantic Union Bankshares during the 4th quarter valued at about $72,000. Concord Wealth Partners grew its position 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 valued at $85,000 after acquiring an additional 2,053 shares during the period. Finally, Sterling Capital Management LLC boosted its holdings in Atlantic Union Bankshares by 838.1% in the 4th quarter. Sterling Capital Management LLC now owns 2,880 shares of the company's stock worth $109,000 after buying an additional 2,573 shares during the last quarter. Hedge funds and other institutional investors own 78.58% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on AUB shares. Jefferies Financial Group set a $37.00 price objective on Atlantic Union Bankshares and gave the stock a "buy" rating in a report on Wednesday, May 21st. Raymond James Financial reiterated a "strong-buy" rating on shares of Atlantic Union Bankshares in a report on Wednesday. Morgan Stanley started coverage on Atlantic Union Bankshares in a report on Wednesday, April 9th. They issued an "equal weight" rating and a $32.00 price objective on the stock. Keefe, Bruyette & Woods lowered their price objective on Atlantic Union Bankshares from $40.00 to $33.00 and set a "market perform" rating on the stock in a report on Monday, April 28th. 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 report on Friday, July 25th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $38.17.

Atlantic Union Bankshares Price Performance

Shares of Atlantic Union Bankshares stock traded down $0.40 on Friday, hitting $31.31. 1,514,404 shares of the company were exchanged, compared to its average volume of 1,464,234. Atlantic Union Bankshares Co. has a 1-year low of $22.85 and a 1-year high of $44.54. The stock has a market capitalization of $4.46 billion, a price-to-earnings ratio of 13.67 and a beta of 0.86. The company has a 50-day moving average price of $31.70 and a 200 day moving average price of $31.92. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.13.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The company reported $0.95 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 firm had revenue of $377.22 million for the quarter, compared to analysts' expectations of $369.70 million. During the same period in the prior year, the firm posted $0.63 earnings per share. The firm's quarterly revenue was up 92.0% on a year-over-year basis. As a group, sell-side analysts predict that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current fiscal year.

Atlantic Union Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, August 4th will be given a $0.34 dividend. The ex-dividend date of this dividend is Monday, August 4th. This represents a $1.36 dividend on an annualized basis and a yield of 4.3%. Atlantic Union Bankshares's payout ratio is presently 66.02%.

Insider Transactions at Atlantic Union Bankshares

In other news, CEO John C. Asbury bought 7,500 shares of the business's stock in a transaction on Monday, July 28th. The shares were bought at an average price of $32.91 per share, with a total value of $246,825.00. Following the completion of the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.87% of the stock is currently owned by insiders.

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.