Jennison Associates LLC Has $8.41 Million Position in Atlantic Union Bankshares Co. $AUB

Key Points

• Jennison Associates LLC cut its stake in Atlantic Union by 62.3% in Q4, selling 394,371 shares and finishing the quarter with 238,208 shares worth about $8.41 million (≈0.17% ownership).
• Atlantic Union missed the quarter with EPS of $0.89 vs. $0.92 expected and revenue of $371.7 million vs. $391.2 million, but analysts still show a Moderate Buy consensus and an average price target of $42.89.
• The stock trades with a market cap of $5.43 billion, a P/E of ~16.6, a 52‑week range of $28.11–$42.18, and institutional investors own about 78.6% of shares.

Jennison Associates LLC lowered its holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 62.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 238,208 shares of the company's stock after selling 394,371 shares during the quarter. Jennison Associates LLC owned about 0.17% of Atlantic Union Bankshares worth $8,409,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of AUB. State of New Jersey Common Pension Fund D boosted its holdings in Atlantic Union Bankshares by 7.5% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 68,624 shares of the company's stock worth $2,422,000 after acquiring an additional 4,787 shares during the last quarter. M&T Bank Corp boosted its holdings in Atlantic Union Bankshares by 6.0% during the 4th quarter. M&T Bank Corp now owns 16,859 shares of the company's stock worth $595,000 after acquiring an additional 948 shares during the last quarter. Pictet Asset Management Holding SA boosted its holdings in Atlantic Union Bankshares by 7.7% during the 4th quarter. Pictet Asset Management Holding SA now owns 21,259 shares of the company's stock worth $750,000 after acquiring an additional 1,522 shares during the last quarter. UBS Group AG boosted its holdings in Atlantic Union Bankshares by 10.9% during the 4th quarter. UBS Group AG now owns 475,259 shares of the company's stock worth $16,777,000 after acquiring an additional 46,867 shares during the last quarter. Finally, Ruffer LLP purchased a new position in Atlantic Union Bankshares during the 4th quarter worth $2,976,000. Institutional investors and hedge funds own 78.58% of the company's stock.

Atlantic Union Bankshares Trading Up 0.8%

NASDAQ AUB opened at $37.96 on Friday. The stock has a market capitalization of $5.43 billion, a price-to-earnings ratio of 16.58 and a beta of 0.80. Atlantic Union Bankshares Co. has a one year low of $28.11 and a one year high of $42.18. 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 business's fifty day moving average is $36.71 and its 200-day moving average is $36.28.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $371.71 million during the quarter, compared to the consensus estimate of $391.24 million. During the same quarter in the prior year, the firm posted $0.90 earnings per share. Equities research analysts predict that Atlantic Union Bankshares Co. will post 3.26 EPS for the current year.

Wall Street Analysts Forecast Growth

AUB has been the topic of a number of analyst reports. Stephens lifted their price objective on shares of Atlantic Union Bankshares from $43.00 to $45.00 and gave the stock an "overweight" rating in a report on Monday, January 26th. Piper Sandler cut their price objective on shares of Atlantic Union Bankshares from $47.50 to $45.00 and set an "overweight" rating on the stock in a report on Wednesday, April 22nd. 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 report on Monday, March 2nd. Finally, Zacks Research downgraded shares of Atlantic Union Bankshares from a "strong-buy" rating to a "hold" rating in a report on Tuesday, March 31st. Five 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 currently has a consensus rating of "Moderate Buy" and an average price target of $42.89.

Insider Transactions at Atlantic Union Bankshares

In other news, Director Nancy H. Agee acquired 650 shares of the stock in a transaction that occurred on Monday, April 20th. The shares were acquired at an average cost of $39.05 per share, for a total transaction of $25,382.50. Following the purchase, the director owned 37,797 shares of the company's stock, valued at approximately $1,475,972.85. The trade was a 1.75% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.96% of the company's stock.

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.

Want to see what other hedge funds are holding AUB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.