HB Wealth Management LLC Invests $411,000 in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Key Points

• HB Wealth Management LLC acquired 13,206 shares of Atlantic Union Bankshares valued at approximately $411,000 during the first quarter, indicating increased institutional interest in the company.
• Insider activity shows CEO John C. Asbury purchased 7,500 shares worth nearly $246,825, increasing his ownership stake in the company.
• Analysts have varied outlooks on Atlantic Union Bankshares, with price targets ranging from $32.00 to $45.00, and an average target of $38.17 suggesting a moderate buy rating.

HB Wealth Management LLC bought a new stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 13,206 shares of the company's stock, valued at approximately $411,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AUB. HighPoint Advisor Group LLC grew its holdings in shares of Atlantic Union Bankshares by 5.2% in the fourth quarter. HighPoint Advisor Group LLC now owns 6,292 shares of the company's stock valued at $244,000 after purchasing an additional 312 shares during the period. Xponance Inc. increased its position in Atlantic Union Bankshares by 5.8% during the first quarter. Xponance Inc. now owns 6,798 shares of the company's stock worth $212,000 after buying an additional 374 shares during the period. CWM LLC boosted its holdings in shares of Atlantic Union Bankshares by 99.4% in the first 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. OneDigital Investment Advisors LLC grew its position in shares of Atlantic Union Bankshares by 8.7% during the first quarter. OneDigital Investment Advisors LLC now owns 6,619 shares of the company's stock worth $206,000 after acquiring an additional 527 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its stake in Atlantic Union Bankshares by 1.9% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 30,755 shares of the company's stock worth $958,000 after purchasing an additional 575 shares during the period. 78.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AUB. Morgan Stanley assumed coverage on Atlantic Union Bankshares in a research note on Wednesday, April 9th. They issued an "equal weight" rating and a $32.00 price target on the stock. Jefferies Financial Group set a $37.00 price objective on Atlantic Union Bankshares and gave the company a "buy" rating in a research note on Wednesday, May 21st. 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. Raymond James Financial reissued a "strong-buy" rating on shares of Atlantic Union Bankshares in a research note on Wednesday, July 30th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Atlantic Union Bankshares from $33.00 to $34.00 and gave the stock a "market perform" rating in a research note on Monday. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Atlantic Union Bankshares currently has an average rating of "Moderate Buy" and an average target price of $38.33.

Insider Transactions at Atlantic Union Bankshares

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 shares were bought at an average cost of $32.91 per share, for a total transaction of $246,825.00. Following the completion of the acquisition, the chief executive officer directly owned 270,532 shares of the company's stock, valued at approximately $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 can be accessed through the SEC website. Corporate insiders own 0.87% of the company's stock.

Atlantic Union Bankshares Trading Up 0.1%

Shares of AUB stock traded up $0.04 during trading hours on Wednesday, hitting $31.72. 854,178 shares of the company were exchanged, compared to its average volume of 1,460,829. Atlantic Union Bankshares Co. has a 1 year low of $22.85 and a 1 year high of $44.54. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.13. The firm has a fifty day moving average of $31.78 and a 200 day moving average of $31.79. The firm has a market cap of $4.52 billion, a PE ratio of 13.87 and a beta of 0.88.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last posted its 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 net margin of 15.53% and a return on equity of 8.50%. The firm had revenue of $377.22 million during the quarter, compared to the consensus estimate of $369.70 million. During the same quarter in the prior year, the company earned $0.63 EPS. The company's revenue was up 92.0% on a year-over-year basis. Analysts expect 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 announced a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, August 4th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Monday, August 4th. Atlantic Union Bankshares's dividend payout ratio (DPR) is currently 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.