London Co. of Virginia Sells 37,125 Shares of Atlantic Union Bankshares Co. $AUB

Key Points

• London Co. of Virginia reduced its stake in Atlantic Union Bankshares by 4.2% in the fourth quarter, selling 37,125 shares and leaving it with 847,406 shares valued at about $29.9 million.
• Institutional ownership remains heavy, with hedge funds and other institutions holding 78.58% of the stock. Several firms, including SG Americas Securities and State Street, increased their positions significantly.
• Analysts are mixed but generally constructive: the stock has a Moderate Buy consensus, while Atlantic Union Bankshares also pays a quarterly dividend of $0.37 per share, yielding about 3.7%.

London Co. of Virginia lessened its stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 4.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 847,406 shares of the company's stock after selling 37,125 shares during the period. London Co. of Virginia owned about 0.59% of Atlantic Union Bankshares worth $29,913,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of AUB. SG Americas Securities LLC increased its holdings in Atlantic Union Bankshares by 6,808.0% during the fourth quarter. SG Americas Securities LLC now owns 1,532,473 shares of the company's stock valued at $54,096,000 after buying an additional 1,510,289 shares during the period. State Street Corp increased its holdings in Atlantic Union Bankshares by 24.5% during the second quarter. State Street Corp now owns 7,400,456 shares of the company's stock valued at $231,486,000 after buying an additional 1,457,647 shares during the period. North Reef Capital Management LP increased its holdings in 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 valued at $131,053,000 after buying an additional 963,604 shares during the period. Goldman Sachs Group Inc. increased its holdings in Atlantic Union Bankshares by 36.0% during the first quarter. Goldman Sachs Group Inc. now owns 2,137,072 shares of the company's stock valued at $66,548,000 after buying an additional 565,564 shares during the period. Finally, Balyasny Asset Management L.P. purchased a new position in Atlantic Union Bankshares during the second quarter valued at approximately $16,284,000. 78.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Zacks Research lowered shares of Atlantic Union Bankshares from a "strong-buy" rating to a "hold" rating in a report on Tuesday, March 31st. Piper Sandler lifted their price objective on shares of Atlantic Union Bankshares from $45.00 to $46.00 and gave the company an "overweight" rating in a report on Thursday, June 11th. Morgan Stanley lifted their price objective on shares of Atlantic Union Bankshares from $44.00 to $47.00 and gave the company an "equal weight" rating in a report on Monday, March 2nd. TD Cowen lifted their price objective on shares of Atlantic Union Bankshares from $44.00 to $45.00 and gave the company a "buy" rating in a report on Tuesday, May 12th. Finally, Stephens reissued an "overweight" rating and set a $46.00 price objective on shares of Atlantic Union Bankshares in a report on Thursday, June 11th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $43.88.

Atlantic Union Bankshares Price Performance

NASDAQ AUB opened at $39.56 on Wednesday. The firm's fifty day simple moving average is $37.79 and its two-hundred day simple moving average is $37.32. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.13. Atlantic Union Bankshares Co. has a 12-month low of $29.64 and a 12-month high of $42.18. The firm has a market capitalization of $5.66 billion, a P/E ratio of 17.28 and a beta of 0.80.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last released its quarterly earnings results on Tuesday, April 21st. The company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.03). Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%.The firm had revenue of $371.71 million during 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. Analysts forecast that Atlantic Union Bankshares Co. will post 3.26 EPS for the current fiscal year.

Atlantic Union Bankshares Announces Dividend

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

Insider Transactions at Atlantic Union Bankshares

In other news, Director Nancy H. Agee purchased 650 shares of the business's stock in a transaction on Monday, April 20th. The shares were acquired at an average cost of $39.05 per share, with a total value 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 ownership of the stock. The transaction 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.

About Atlantic Union Bankshares

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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