Neumeier Poma Investment Counsel LLC Cuts Position in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Key Points

• Neumeier Poma Investment Counsel LLC reduced its stake in Atlantic Union Bankshares by 58.8%, now holding 216,645 shares valued at approximately $6.75 million according to SEC filings.
• CEO John C. Asbury purchased 7,500 shares at an average cost of $32.91, increasing his ownership by 2.85% to over $8.9 million.
• Atlantic Union Bankshares reported a 92% increase in quarterly revenue year-over-year and achieved $0.95 EPS, surpassing analysts' expectations of $0.80.

Neumeier Poma Investment Counsel LLC decreased its position in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 58.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 216,645 shares of the company's stock after selling 308,875 shares during the quarter. Neumeier Poma Investment Counsel LLC owned 0.24% of Atlantic Union Bankshares worth $6,746,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its position in shares of Atlantic Union Bankshares by 8.8% during the first quarter. Bank of New York Mellon Corp now owns 1,171,836 shares of the company's stock worth $36,491,000 after acquiring an additional 94,883 shares during the period. OneDigital Investment Advisors LLC grew its stake in shares of Atlantic Union Bankshares by 8.7% during the first quarter. OneDigital Investment Advisors LLC now owns 6,619 shares of the company's stock worth $206,000 after purchasing an additional 527 shares in the last quarter. Amalgamated Bank grew its stake in shares of Atlantic Union Bankshares by 30.7% during the first quarter. Amalgamated Bank now owns 34,400 shares of the company's stock worth $1,071,000 after purchasing an additional 8,073 shares in the last quarter. DAVENPORT & Co LLC grew its stake in shares of Atlantic Union Bankshares by 25.6% during the first quarter. DAVENPORT & Co LLC now owns 558,451 shares of the company's stock worth $17,390,000 after purchasing an additional 113,760 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Atlantic Union Bankshares during the first quarter worth $310,000. Hedge funds and other institutional investors own 78.58% of the company's stock.

Insider Transactions at Atlantic Union Bankshares

In related news, CEO John C. Asbury bought 7,500 shares of the company's stock in a transaction on Monday, July 28th. The stock was bought at an average cost of $32.91 per share, with a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.87% of the company's stock.

Atlantic Union Bankshares Trading Up 0.1%

NASDAQ AUB opened at $31.71 on Thursday. The stock has a market capitalization of $4.52 billion, a P/E ratio of 13.85 and a beta of 0.88. Atlantic Union Bankshares Co. has a 52-week low of $22.85 and a 52-week high of $44.54. The firm has a 50-day moving average price of $31.82 and a 200 day moving average price of $31.79. 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 (NASDAQ:AUB - Get Free Report) last issued 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 during the quarter, compared to analysts' expectations of $369.70 million. During the same period last year, the company posted $0.63 earnings per share. The firm's quarterly revenue was up 92.0% compared to the same quarter last year. Equities research analysts expect 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. Shareholders of record on Monday, August 4th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Monday, August 4th. This represents a $1.36 dividend on an annualized basis and a yield of 4.3%. Atlantic Union Bankshares's dividend payout ratio (DPR) is 66.02%.

Analysts Set New Price Targets

AUB has been the subject of several research analyst reports. Raymond James Financial restated a "strong-buy" rating on shares of Atlantic Union Bankshares in a research note on Wednesday, July 30th. Keefe, Bruyette & Woods increased their target price on shares of Atlantic Union Bankshares from $33.00 to $34.00 and gave the stock a "market perform" rating in a research note on Monday. Jefferies Financial Group set a $37.00 target price on shares of Atlantic Union Bankshares and gave the stock a "buy" rating in a research note on Wednesday, May 21st. Morgan Stanley assumed coverage on shares of Atlantic Union Bankshares in a research note on Wednesday, April 9th. They set an "equal weight" rating and a $32.00 target price for the company. Finally, Piper Sandler decreased their target price on shares of Atlantic Union Bankshares from $46.00 to $45.00 and set an "overweight" rating for the company in a research note on Friday, July 25th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Atlantic Union Bankshares has an average rating of "Moderate Buy" and a consensus target price 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.

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