Natixis Advisors LLC Sells 9,794 Shares of Atlantic Union Bankshares Co. (NASDAQ:AUB)

Key Points

• Natixis Advisors LLC reduced its stake in Atlantic Union Bankshares by 13.1%, selling 9,794 shares and now holding approximately 0.07% of the company valued at $2,030,000.
• Atlantic Union Bankshares reported $0.95 EPS for the last quarter, exceeding analysts' expectations and demonstrating a 92% year-over-year revenue growth to $377.22 million.
• The company announced a quarterly dividend of $0.34 per share, reflecting a 4.3% yield and a payout ratio of 66.02% with payment scheduled for August 18th.

Natixis Advisors LLC cut its position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 13.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 65,182 shares of the company's stock after selling 9,794 shares during the quarter. Natixis Advisors LLC owned approximately 0.07% of Atlantic Union Bankshares worth $2,030,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of AUB. NBC Securities Inc. purchased a new stake in Atlantic Union Bankshares in the first quarter worth approximately $25,000. CWM LLC lifted its holdings in shares of Atlantic Union Bankshares by 99.4% in 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. Investment Management Corp VA ADV bought a new stake in shares of Atlantic Union Bankshares in the 4th quarter worth approximately $72,000. Concord Wealth Partners boosted its stake in shares of Atlantic Union Bankshares by 304.1% in the 1st quarter. Concord Wealth Partners now owns 2,728 shares of the company's stock valued at $85,000 after purchasing an additional 2,053 shares in the last quarter. Finally, Sterling Capital Management LLC grew its holdings in shares of Atlantic Union Bankshares by 838.1% during the 4th quarter. Sterling Capital Management LLC now owns 2,880 shares of the company's stock valued at $109,000 after purchasing an additional 2,573 shares during the last quarter. 78.58% of the stock is owned by hedge funds and other institutional investors.

Atlantic Union Bankshares Trading Down 0.9%

AUB opened at $31.40 on Friday. The firm has a market capitalization of $4.47 billion, a price-to-earnings ratio of 13.71 and a beta of 0.88. Atlantic Union Bankshares Co. has a one year low of $22.85 and a one year high of $44.54. The business has a 50 day simple moving average of $31.84 and a two-hundred day simple moving average of $31.75. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.91 and a quick ratio of 0.91.

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

Atlantic Union Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, August 4th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Monday, August 4th. Atlantic Union Bankshares's dividend payout ratio (DPR) is currently 66.02%.

Insider Activity

In related news, Director Frank Russell Ellett purchased 5,000 shares of Atlantic Union Bankshares stock in a transaction that occurred on Thursday, August 7th. The shares were bought at an average price of $31.54 per share, for a total transaction of $157,700.00. Following the completion of the transaction, the director directly owned 76,606 shares of the company's stock, valued at $2,416,153.24. This represents a 6.98% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John C. Asbury acquired 7,500 shares of the stock in a transaction on Monday, July 28th. The stock was bought at an average price of $32.91 per share, with a total value of $246,825.00. Following the completion of the acquisition, the chief executive officer directly owned 270,532 shares of the company's stock, valued at $8,903,208.12. This trade represents a 2.85% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 17,500 shares of company stock valued at $561,125. Corporate insiders own 0.87% of the company's stock.

Wall Street Analysts Forecast Growth

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

About Atlantic Union Bankshares

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.

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