New Age Alpha Advisors LLC Makes New Investment in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Key Points

• New Age Alpha Advisors LLC invested approximately $403,000 in Atlantic Union Bankshares Co., acquiring 12,952 shares during the first quarter.
• CEO John C. Asbury increased his ownership by purchasing 7,500 shares for $246,825, raising his total holdings to 270,532 shares valued at over $8.9 million.
• Atlantic Union Bankshares reported $0.95 EPS for the last quarter, exceeding analysts' expectations, and declared a quarterly dividend of $0.34 per share, translating to a 4.2% dividend yield.

New Age Alpha Advisors LLC purchased a new stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 12,952 shares of the company's stock, valued at approximately $403,000.

Other large investors have also recently added to or reduced their stakes in the company. NBC Securities Inc. bought a new position in Atlantic Union Bankshares during the 1st quarter valued at $25,000. CWM LLC lifted its position 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 buying an additional 523 shares during the last quarter. Investment Management Corp VA ADV bought a new position in shares of Atlantic Union Bankshares in the 4th quarter worth about $72,000. Concord Wealth Partners lifted its position 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 worth $85,000 after buying an additional 2,053 shares during the last quarter. Finally, Sterling Capital Management LLC lifted its position in shares of Atlantic Union Bankshares by 838.1% in the 4th quarter. Sterling Capital Management LLC now owns 2,880 shares of the company's stock worth $109,000 after buying an additional 2,573 shares during the last quarter. 78.58% of the stock is currently owned by institutional investors.

Atlantic Union Bankshares Price Performance

NASDAQ:AUB traded down $0.09 during mid-day trading on Monday, reaching $31.95. 839,939 shares of the company were exchanged, compared to its average volume of 1,463,622. Atlantic Union Bankshares Co. has a 12 month low of $22.85 and a 12 month high of $44.54. The company has a fifty day moving average of $31.88 and a 200 day moving average of $31.63. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.13. The stock has a market cap of $4.55 billion, a PE ratio of 13.95 and a beta of 0.88.

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 the consensus estimate of $0.80 by $0.15. The company had revenue of $377.22 million for the quarter, compared to analyst estimates of $369.70 million. Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.50%. The company's revenue for the quarter was up 92.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.63 EPS. On average, research analysts anticipate 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 will be paid on Monday, August 18th. Investors of record on Monday, August 4th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Monday, August 4th. Atlantic Union Bankshares's dividend payout ratio (DPR) is currently 66.02%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, Director Frank Russell Ellett acquired 1,441 shares of Atlantic Union Bankshares stock in a transaction on Friday, August 8th. The stock was purchased at an average cost of $31.49 per share, with a total value of $45,377.09. Following the completion of the transaction, the director directly owned 78,047 shares in the company, valued at $2,457,700.03. This trade represents a 1.88% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John C. Asbury acquired 7,500 shares of Atlantic Union Bankshares stock in a transaction on Monday, July 28th. The shares were bought at an average cost of $32.91 per share, with a total value of $246,825.00. Following the completion of the transaction, the chief executive officer owned 270,532 shares of the company's stock, valued at approximately $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. Insiders purchased a total of 18,941 shares of company stock worth $606,502 over the last quarter. 0.87% of the stock is currently owned by corporate insiders.

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.