Jefferies Financial Group Inc. Makes New Investment in Atlantic Union Bankshares Co. $AUB

Key Points

• Jefferies Financial Group disclosed a new fourth-quarter stake in Atlantic Union Bankshares, buying 189,970 shares worth about $6.7 million and ending with roughly 0.13% ownership.
• Atlantic Union Bankshares reported mixed quarterly results, with EPS of $0.89 missing estimates of $0.92 and revenue of $371.71 million also below forecasts; analysts still expect full-year EPS of 3.26.
• The bank declared a quarterly dividend of $0.37 per share, implying an annualized yield of about 3.9%, while analysts currently rate the stock a consensus Moderate Buy with a target price of $43.63.

Jefferies Financial Group Inc. acquired a new stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 189,970 shares of the company's stock, valued at approximately $6,706,000. Jefferies Financial Group Inc. owned about 0.13% of Atlantic Union Bankshares at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Walleye Capital LLC increased its holdings in shares of Atlantic Union Bankshares by 1.5% in the second quarter. Walleye Capital LLC now owns 22,000 shares of the company's stock worth $688,000 after purchasing an additional 322 shares during the last quarter. Westside Investment Management Inc. increased its holdings in shares of Atlantic Union Bankshares by 100.0% in the third quarter. Westside Investment Management Inc. now owns 780 shares of the company's stock worth $27,000 after purchasing an additional 390 shares during the last quarter. UMB Bank n.a. increased its holdings in shares of Atlantic Union Bankshares by 32.5% in the third quarter. UMB Bank n.a. now owns 1,660 shares of the company's stock worth $59,000 after purchasing an additional 407 shares during the last quarter. Choreo LLC increased its holdings in shares of Atlantic Union Bankshares by 5.2% in the third quarter. Choreo LLC now owns 8,282 shares of the company's stock worth $292,000 after purchasing an additional 408 shares during the last quarter. Finally, Mackenzie Financial Corp increased its position in Atlantic Union Bankshares by 5.7% in the third quarter. Mackenzie Financial Corp now owns 9,137 shares of the company's stock worth $322,000 after purchasing an additional 492 shares during the last quarter. Institutional investors own 78.58% of the company's stock.

Insider Buying and Selling

In other news, Director Nancy H. Agee bought 650 shares of Atlantic Union Bankshares stock in a transaction on Monday, April 20th. The stock was acquired at an average cost of $39.05 per share, for a total transaction of $25,382.50. Following the completion of the acquisition, the director 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 filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.96% of the company's stock.

Atlantic Union Bankshares Stock Down 0.0%

Shares of AUB opened at $37.55 on Tuesday. The firm has a market capitalization of $5.37 billion, a P/E ratio of 16.40 and a beta of 0.80. Atlantic Union Bankshares Co. has a 12-month low of $28.11 and a 12-month high of $42.18. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.13. The firm has a fifty day moving average price of $36.74 and a 200-day moving average price of $36.69.

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

Atlantic Union Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Friday, May 22nd will be issued a $0.37 dividend. The ex-dividend date is Friday, May 22nd. This represents a $1.48 dividend on an annualized basis and a yield of 3.9%. Atlantic Union Bankshares's payout ratio is currently 62.71%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. TD Cowen boosted their price target 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. Morgan Stanley boosted their price target on shares of Atlantic Union Bankshares from $44.00 to $47.00 and gave the stock an "equal weight" rating in a research report on Monday, March 2nd. Piper Sandler reduced their price target 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. Zacks Research cut shares of Atlantic Union Bankshares from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 31st. Finally, Stephens boosted their price target on shares of Atlantic Union Bankshares from $43.00 to $45.00 and gave the stock an "overweight" rating in a research report on Monday, January 26th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Atlantic Union Bankshares has an average rating of "Moderate Buy" and a consensus target price of $43.63.

Atlantic Union Bankshares 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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