Atlantic Union Bankshares Co. (NASDAQ:AUB) Shares Acquired by GSA Capital Partners LLP

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

Several other hedge funds and other institutional investors have also recently bought and sold shares of AUB. NBC Securities Inc. purchased a new position in Atlantic Union Bankshares during the first quarter worth approximately $25,000. CWM LLC lifted its position in Atlantic Union Bankshares by 99.4% during the first quarter. CWM LLC now owns 1,049 shares of the company's stock worth $33,000 after buying an additional 523 shares in the last quarter. Investment Management Corp VA ADV purchased a new position in Atlantic Union Bankshares during the fourth quarter worth approximately $72,000. Concord Wealth Partners lifted its position in Atlantic Union Bankshares by 304.1% during the first quarter. Concord Wealth Partners now owns 2,728 shares of the company's stock worth $85,000 after buying an additional 2,053 shares in the last quarter. Finally, ORG Wealth Partners LLC purchased a new position in Atlantic Union Bankshares during the first quarter worth approximately $100,000. 78.58% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on AUB. Morgan Stanley began coverage on Atlantic Union Bankshares in a research report on Wednesday, April 9th. They issued an "equal weight" rating and a $32.00 target price on the stock. Keefe, Bruyette & Woods reduced their target price on Atlantic Union Bankshares from $40.00 to $33.00 and set a "market perform" rating on the stock in a research report on Monday, April 28th. Jefferies Financial Group set a $37.00 target price on Atlantic Union Bankshares and gave the company a "buy" rating in a research report on Wednesday, May 21st. Piper Sandler dropped their price objective 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. Finally, Raymond James Financial reiterated a "strong-buy" rating on shares of Atlantic Union Bankshares in a report on Wednesday. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $38.17.

Insider Buying and Selling

In other Atlantic Union Bankshares news, CEO John C. Asbury acquired 7,500 shares of the stock in a transaction dated Monday, July 28th. The stock was acquired at an average cost of $32.91 per share, with a total value of $246,825.00. Following the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.87% of the stock is owned by insiders.

Atlantic Union Bankshares Trading Down 1.2%

Shares of AUB stock traded down $0.40 on Friday, hitting $31.31. The stock had a trading volume of 1,514,404 shares, compared to its average volume of 1,464,234. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market capitalization of $4.46 billion, a P/E ratio of 13.67 and a beta of 0.86. Atlantic Union Bankshares Co. has a 1 year low of $22.85 and a 1 year high of $44.54. The company's 50 day moving average price is $31.65 and its 200-day moving average price is $31.97.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last released its earnings results on Thursday, July 24th. The company reported $0.95 EPS for the quarter, topping the consensus estimate 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 analysts' expectations of $369.70 million. During the same period in the previous year, the firm posted $0.63 EPS. Atlantic Union Bankshares's revenue for the quarter was up 92.0% on a year-over-year basis. Analysts anticipate that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current year.

Atlantic Union Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, August 4th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend is Monday, August 4th. Atlantic Union Bankshares's payout ratio 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.