Kennedy Capital Management LLC Buys 123,298 Shares of Atlantic Union Bankshares Co. $AUB

Key Points

• Kennedy Capital Management boosted its Atlantic Union Bankshares stake by 39.5% in the fourth quarter, buying 123,298 more shares and bringing its total to 435,054 shares worth about $15.36 million.
• Several other institutions also increased holdings, and overall institutional investors own 78.58% of the stock. Analyst sentiment is mixed but constructive, with an average rating of “Moderate Buy” and an average price target of $43.88.
• Atlantic Union Bankshares reported quarterly EPS of $0.89, missing expectations, while revenue also came in below estimates. The company also paid a $0.37 quarterly dividend, equal to a 3.7% annualized yield.

Kennedy Capital Management LLC increased its stake in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 39.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 435,054 shares of the company's stock after purchasing an additional 123,298 shares during the quarter. Kennedy Capital Management LLC owned approximately 0.31% of Atlantic Union Bankshares worth $15,357,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of AUB. AQR Capital Management LLC raised its holdings 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 purchasing an additional 36,196 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Atlantic Union Bankshares by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 53,232 shares of the company's stock worth $1,658,000 after buying an additional 2,322 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Atlantic Union Bankshares by 36.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,137,072 shares of the company's stock worth $66,548,000 after buying an additional 565,564 shares in the last quarter. Empowered Funds LLC purchased a new stake in Atlantic Union Bankshares in the 1st quarter worth $3,011,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Atlantic Union Bankshares by 9.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 249,378 shares of the company's stock worth $7,766,000 after buying an additional 22,078 shares in the last quarter. 78.58% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on AUB shares. Stephens reiterated an "overweight" rating and issued a $46.00 price target on shares of Atlantic Union Bankshares in a research note on Thursday. Morgan Stanley increased their price target on 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 increased their price target on Atlantic Union Bankshares from $44.00 to $45.00 and gave the stock a "buy" rating in a research note on Tuesday, May 12th. Piper Sandler increased their price target on Atlantic Union Bankshares from $45.00 to $46.00 and gave the stock an "overweight" rating in a research note on Thursday. Finally, Zacks Research lowered Atlantic Union Bankshares from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, March 31st. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $43.88.

Insider Buying and Selling

In related news, Director Nancy H. Agee purchased 650 shares of the company's stock in a transaction that occurred on Monday, April 20th. The stock was bought at an average price of $39.05 per share, for a total transaction of $25,382.50. Following the completion of the transaction, the director owned 37,797 shares in the company, valued at approximately $1,475,972.85. The trade was a 1.75% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.96% of the company's stock.

Atlantic Union Bankshares Trading Up 1.8%

Shares of Atlantic Union Bankshares stock opened at $40.22 on Friday. The firm has a market cap of $5.76 billion, a price-to-earnings ratio of 17.56 and a beta of 0.80. The business has a 50-day moving average price of $37.66 and a 200-day moving average price of $37.22. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.13. Atlantic Union Bankshares Co. has a twelve month low of $29.64 and a twelve month high of $42.18.

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

Atlantic Union Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were given a $0.37 dividend. The ex-dividend date was Friday, May 22nd. This represents a $1.48 annualized dividend and a yield of 3.7%. Atlantic Union Bankshares's dividend payout ratio (DPR) is currently 62.71%.

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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