GW&K Investment Management LLC Cuts Holdings in Atlantic Union Bankshares Co. $AUB

Key Points

• GW&K Investment Management reduced its Atlantic Union Bankshares stake by 5% in the fourth quarter, selling 83,830 shares and ending with 1.61 million shares worth about $56.8 million.
• Insider buying was also reported, with Director Nancy H. Agee purchasing 650 shares at $39.05 each, increasing her holdings by 1.75%.
• Atlantic Union Bankshares recently missed earnings and revenue estimates, reporting $0.89 EPS versus $0.92 expected and revenue of $371.71 million versus $391.24 million forecast. The bank also paid a quarterly dividend of $0.37, implying a 3.8% annualized yield.

GW&K Investment Management LLC trimmed its position in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 5.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,609,015 shares of the company's stock after selling 83,830 shares during the quarter. GW&K Investment Management LLC owned about 1.13% of Atlantic Union Bankshares worth $56,798,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. AQR Capital Management LLC increased its stake in Atlantic Union Bankshares by 634.3% in the 1st quarter. AQR Capital Management LLC now owns 41,902 shares of the company's stock worth $1,305,000 after acquiring an additional 36,196 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Atlantic Union Bankshares by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 53,232 shares of the company's stock worth $1,658,000 after acquiring an additional 2,322 shares in the last quarter. Goldman Sachs Group Inc. boosted its position 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 valued at $66,548,000 after acquiring an additional 565,564 shares during the last quarter. Empowered Funds LLC bought a new position in shares of Atlantic Union Bankshares during the 1st quarter valued at approximately $3,011,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Atlantic Union Bankshares by 9.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 249,378 shares of the company's stock valued at $7,766,000 after purchasing an additional 22,078 shares in the last quarter. 78.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Atlantic Union Bankshares

In other news, Director Nancy H. Agee acquired 650 shares of Atlantic Union Bankshares stock in a transaction on Monday, April 20th. The shares were bought at an average cost of $39.05 per share, for a total transaction of $25,382.50. Following the acquisition, the director directly owned 37,797 shares of the company's stock, valued at $1,475,972.85. This trade represents a 1.75% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.96% of the stock is currently owned by company insiders.

Atlantic Union Bankshares Trading Up 1.9%

AUB stock opened at $38.63 on Wednesday. Atlantic Union Bankshares Co. has a 12 month low of $29.64 and a 12 month high of $42.18. The firm's 50-day moving average is $37.42 and its 200 day moving average is $37.10. The company has a market capitalization of $5.53 billion, a PE ratio of 16.87 and a beta of 0.80. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.91 and a quick ratio of 0.91.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last issued its earnings results on Tuesday, April 21st. The company reported $0.89 EPS for the quarter, missing analysts' consensus estimates of $0.92 by ($0.03). The company had revenue of $371.71 million during the quarter, compared to the consensus estimate of $391.24 million. Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%.During the same quarter in the prior year, the company earned $0.90 earnings per share. On average, research analysts anticipate that Atlantic Union Bankshares Co. will post 3.26 EPS for the current year.

Atlantic Union Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were paid a $0.37 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $1.48 annualized dividend and a yield of 3.8%. Atlantic Union Bankshares's dividend payout ratio is 62.71%.

Analyst Ratings Changes

A number of research firms recently issued reports on AUB. Zacks Research downgraded shares of Atlantic Union Bankshares from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, March 31st. Morgan Stanley lifted their price objective on shares of Atlantic Union Bankshares from $44.00 to $47.00 and gave the stock an "equal weight" rating in a research note on Monday, March 2nd. TD Cowen boosted their target price on shares of Atlantic Union Bankshares from $44.00 to $45.00 and gave the stock a "buy" rating in a report on Tuesday, May 12th. Finally, Piper Sandler decreased their target price on shares of Atlantic Union Bankshares from $47.50 to $45.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 22nd. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Atlantic Union Bankshares presently has an average rating of "Moderate Buy" and an average price target of $43.63.

Atlantic Union Bankshares Company Profile

Atlantic Union Bankshares, Inc is a bank holding company headquartered in Richmond, Virginia, operating through its principal subsidiary Atlantic Union Bank. The company offers a full suite of commercial and consumer banking services to individuals, businesses and institutions across Virginia, Maryland, North Carolina and the District of Columbia. Leveraging a network of full-service branches, commercial lending offices and digital platforms, Atlantic Union Bankshares focuses on relationship-driven solutions tailored to its regional client base.

Atlantic Union's product lineup includes traditional deposit accounts, such as checking, savings and money market accounts, along with certificates of deposit.

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