Hsbc Holdings PLC Buys 98,696 Shares of Atlantic Union Bankshares Co. $AUB

Key Points

• HSBC Holdings PLC sharply increased its stake in Atlantic Union Bankshares, buying 98,696 additional shares in the fourth quarter and lifting its total holdings to 106,335 shares worth about $3.75 million.
• Atlantic Union Bankshares reported mixed quarterly results, with EPS of $0.89 missing estimates by $0.03 and revenue of $371.71 million below expectations. Analysts still expect the company to earn 3.74 EPS for the full year.
• The bank recently paid a $0.37 quarterly dividend, implying an annualized yield of 3.5%, while Wall Street currently rates the stock a Moderate Buy with an average price target of $43.62.

Hsbc Holdings PLC increased its stake in shares of Atlantic Union Bankshares Co. (NYSE:AUB - Free Report) by 1,292.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 106,335 shares of the company's stock after acquiring an additional 98,696 shares during the period. Hsbc Holdings PLC owned about 0.07% of Atlantic Union Bankshares worth $3,752,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. T. Rowe Price Investment Management Inc. bought a new position in Atlantic Union Bankshares during the 4th quarter worth about $87,022,000. SG Americas Securities LLC lifted its holdings in shares of Atlantic Union Bankshares by 6,808.0% in the fourth quarter. SG Americas Securities LLC now owns 1,532,473 shares of the company's stock valued at $54,096,000 after purchasing an additional 1,510,289 shares in the last quarter. State Street Corp boosted its position in shares of Atlantic Union Bankshares by 24.5% during the second quarter. State Street Corp now owns 7,400,456 shares of the company's stock worth $231,486,000 after buying an additional 1,457,647 shares during the period. North Reef Capital Management LP boosted its position in shares of Atlantic Union Bankshares by 35.0% during the third quarter. North Reef Capital Management LP now owns 3,713,604 shares of the company's stock worth $131,053,000 after buying an additional 963,604 shares during the period. Finally, Aristotle Capital Boston LLC bought a new position in shares of Atlantic Union Bankshares during the fourth quarter worth about $22,169,000. 78.58% of the stock is owned by institutional investors and hedge funds.

Atlantic Union Bankshares Stock Performance

NYSE AUB opened at $42.00 on Friday. The firm has a market capitalization of $6.01 billion, a P/E ratio of 17.80 and a beta of 0.79. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.15. The firm's fifty day moving average price is $39.02 and its two-hundred day moving average price is $38.04. Atlantic Union Bankshares Co. has a 1 year low of $30.39 and a 1 year high of $43.62.

Atlantic Union Bankshares (NYSE:AUB - Get Free Report) last announced its quarterly earnings data on Tuesday, April 21st. The company reported $0.89 EPS for the quarter, missing analysts' consensus estimates of $0.92 by ($0.03). The firm had revenue of $371.71 million during the quarter, compared to the consensus estimate of $391.24 million. Atlantic Union Bankshares had a net margin of 15.50% and a return on equity of 10.74%. During the same period last year, the business earned $0.90 EPS. As a group, research analysts anticipate that Atlantic Union Bankshares Co. will post 3.74 EPS for the current year.

Atlantic Union Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were issued a dividend of $0.37 per share. The ex-dividend date was Friday, May 22nd. This represents a $1.48 dividend on an annualized basis and a yield of 3.5%. Atlantic Union Bankshares's dividend payout ratio (DPR) is presently 62.71%.

Insider Buying and Selling

In other Atlantic Union Bankshares news, Director Nancy H. Agee purchased 650 shares of the stock in a transaction on Monday, April 20th. The shares were purchased at an average price of $39.05 per share, with a total value of $25,382.50. Following the completion of the transaction, the director directly owned 37,797 shares in the company, valued at $1,475,972.85. This represents a 1.75% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.96% of the company's stock.

Wall Street Analyst Weigh In

AUB has been the topic of a number of recent research reports. Stephens reissued an "overweight" rating and issued a $46.00 target price on shares of Atlantic Union Bankshares in a research report on Thursday, June 11th. Zacks Research downgraded Atlantic Union Bankshares from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 31st. Morgan Stanley raised their price target on shares of Atlantic Union Bankshares from $42.00 to $45.00 and gave the stock an "equal weight" rating in a research note on Monday, June 29th. Weiss Ratings started coverage on shares of Atlantic Union Bankshares in a report on Monday. They issued a "buy (b-)" rating on the stock. Finally, TD Cowen boosted their price objective on shares of Atlantic Union Bankshares from $44.00 to $45.00 and gave the stock a "buy" rating in a research report on Tuesday, May 12th. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $43.62.

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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