Maryland State Retirement & Pension System Purchases 7,962 Shares of Atlantic Union Bankshares Co. (NASDAQ:AUB)

Maryland State Retirement & Pension System lifted its stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 26.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,051 shares of the company's stock after purchasing an additional 7,962 shares during the quarter. Maryland State Retirement & Pension System's holdings in Atlantic Union Bankshares were worth $1,185,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in AUB. Xponance Inc. grew its holdings in Atlantic Union Bankshares by 5.8% during the 1st quarter. Xponance Inc. now owns 6,798 shares of the company's stock worth $212,000 after acquiring an additional 374 shares during the last quarter. CWM LLC grew its holdings in Atlantic Union Bankshares by 99.4% during the 1st quarter. CWM LLC now owns 1,049 shares of the company's stock worth $33,000 after acquiring an additional 523 shares during the last quarter. OneDigital Investment Advisors LLC grew its holdings in Atlantic Union Bankshares by 8.7% during the 1st quarter. OneDigital Investment Advisors LLC now owns 6,619 shares of the company's stock worth $206,000 after acquiring an additional 527 shares during the last quarter. Oppenheimer Asset Management Inc. grew its holdings in Atlantic Union Bankshares by 1.9% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 30,755 shares of the company's stock worth $958,000 after acquiring an additional 575 shares during the last quarter. Finally, Canal Capital Management LLC grew its holdings in Atlantic Union Bankshares by 1.0% during the 4th quarter. Canal Capital Management LLC now owns 60,280 shares of the company's stock worth $2,283,000 after acquiring an additional 599 shares during the last quarter. 78.58% of the stock is owned by institutional investors.

Atlantic Union Bankshares Trading Down 0.8%

Shares of NASDAQ:AUB traded down $0.27 during trading on Friday, reaching $33.93. The stock had a trading volume of 401,483 shares, compared to its average volume of 1,449,931. The firm's fifty day moving average is $32.16 and its 200 day moving average is $31.60. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.91 and a current ratio of 0.91. Atlantic Union Bankshares Co. has a 52 week low of $22.85 and a 52 week high of $44.54. The stock has a market cap of $4.83 billion, a price-to-earnings ratio of 14.81 and a beta of 0.88.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last released its earnings results on Thursday, July 24th. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.80 by $0.15. Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.50%. The company had revenue of $377.22 million for the quarter, compared to the consensus estimate of $369.70 million. During the same quarter in the previous year, the company earned $0.63 EPS. Atlantic Union Bankshares's quarterly revenue was up 92.0% compared to the same quarter last year. As a group, equities analysts forecast that Atlantic Union Bankshares Co. will post 3.26 EPS for the current fiscal year.

Atlantic Union Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, August 4th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Monday, August 4th. Atlantic Union Bankshares's payout ratio is presently 66.02%.

Insiders Place Their Bets

In other Atlantic Union Bankshares news, CEO John C. Asbury acquired 7,500 shares of the stock in a transaction on Monday, July 28th. The shares were purchased at an average price of $32.91 per share, for a total transaction of $246,825.00. Following the completion of the acquisition, the chief executive officer owned 270,532 shares in the company, valued at approximately $8,903,208.12. This represents a 2.85% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Frank Russell Ellett acquired 5,000 shares of the stock in a transaction on Thursday, August 7th. The shares were acquired at an average price of $31.54 per share, for a total transaction of $157,700.00. Following the acquisition, the director owned 76,606 shares of the company's stock, valued at approximately $2,416,153.24. The trade was a 6.98% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 18,941 shares of company stock worth $606,502 in the last quarter. 0.87% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have weighed in on AUB. Jefferies Financial Group set a $37.00 target price on shares of Atlantic Union Bankshares and gave the stock a "buy" rating in a report on Wednesday, May 21st. Piper Sandler reduced their target price on shares of Atlantic Union Bankshares from $46.00 to $45.00 and set an "overweight" rating on the stock in a report on Friday, July 25th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Atlantic Union Bankshares in a research note on Wednesday, July 30th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Atlantic Union Bankshares from $33.00 to $34.00 and gave the company a "market perform" rating in a research note on Monday, August 4th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $38.33.

Atlantic Union Bankshares Profile

Atlantic Union Bankshares Corporation operates as the bank holding company for Atlantic Union Bank that provides banking and related financial products and services to consumers and businesses in the United States. It operates in two segments, Wholesale Banking and Consumer Banking. The company accepts various deposit products, including checking, savings, time deposit, and money market accounts; certificates of deposit; and other depository services.