Oliver Luxxe Assets LLC Has $1.46 Million Stock Holdings in Atlantic Union Bankshares Co. $AUB

Key Points

• Oliver Luxxe Assets LLC cut its Atlantic Union Bankshares stake by 46.2% in the second quarter, selling 29,743 shares and retaining 34,599 shares valued at approximately $1.46 million.
• Atlantic Union Bankshares reported quarterly EPS of $0.94, exceeding analyst expectations of $0.92, while revenue rose 3.1% year over year to $387.57 million.
• The company declared a quarterly dividend of $0.37 per share, equivalent to a 3.5% annualized yield; analysts maintain a “Moderate Buy” consensus with an average price target of $45.57.

Oliver Luxxe Assets LLC decreased its holdings in shares of Atlantic Union Bankshares Co. (NYSE:AUB - Free Report) by 46.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,599 shares of the company's stock after selling 29,743 shares during the quarter. Oliver Luxxe Assets LLC's holdings in Atlantic Union Bankshares were worth $1,464,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Beacon Investment Advisors LLC boosted its position in Atlantic Union Bankshares by 0.7% during the 4th quarter. Beacon Investment Advisors LLC now owns 34,442 shares of the company's stock worth $1,216,000 after acquiring an additional 249 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of Atlantic Union Bankshares by 25.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,544 shares of the company's stock valued at $55,000 after purchasing an additional 318 shares during the period. Walleye Capital LLC lifted its position in shares of Atlantic Union Bankshares by 1.5% in the second quarter. Walleye Capital LLC now owns 22,000 shares of the company's stock worth $688,000 after purchasing an additional 322 shares in the last quarter. Maryland State Retirement & Pension System lifted its position in shares of Atlantic Union Bankshares by 1.7% in the fourth quarter. Maryland State Retirement & Pension System now owns 20,835 shares of the company's stock worth $735,000 after purchasing an additional 347 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its holdings in shares of Atlantic Union Bankshares by 3.6% during the fourth quarter. CIBC Asset Management Inc now owns 13,399 shares of the company's stock worth $473,000 after purchasing an additional 468 shares during the period. 78.58% of the stock is owned by institutional investors and hedge funds.

Atlantic Union Bankshares Trading Down 0.0%

NYSE:AUB opened at $41.76 on Monday. The stock's 50 day moving average price is $41.03 and its 200 day moving average price is $38.86. Atlantic Union Bankshares Co. has a 52 week low of $30.87 and a 52 week high of $43.62. The company has a market capitalization of $5.98 billion, a P/E ratio of 12.47 and a beta of 0.79. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.93 and a current ratio of 0.93.

Atlantic Union Bankshares (NYSE:AUB - Get Free Report) last posted its earnings results on Tuesday, July 21st. The company reported $0.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.92 by $0.02. The firm had revenue of $387.57 million during the quarter, compared to analysts' expectations of $389.06 million. Atlantic Union Bankshares had a net margin of 21.97% and a return on equity of 10.55%. The company's revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.95 earnings per share. On average, research analysts forecast that Atlantic Union Bankshares Co. will post 3.76 EPS for the current fiscal year.

Atlantic Union Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Friday, August 7th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Friday, August 7th. Atlantic Union Bankshares's payout ratio is presently 44.18%.

Analyst Upgrades and Downgrades

AUB has been the topic of a number of research analyst reports. Weiss Ratings assumed coverage on shares of Atlantic Union Bankshares in a research report on Monday, July 6th. They set a "buy (b-)" rating on the stock. Morgan Stanley lifted their target price on shares of Atlantic Union Bankshares from $42.00 to $45.00 and gave the company an "equal weight" rating in a research note on Monday, June 29th. TD Cowen boosted their price target on shares of Atlantic Union Bankshares from $46.00 to $48.00 and gave the company a "buy" rating in a report on Wednesday, July 22nd. Piper Sandler reaffirmed an "overweight" rating and issued a $47.00 price target on shares of Atlantic Union Bankshares in a research note on Wednesday, July 22nd. Finally, Stephens reiterated an "overweight" rating and set a $46.00 price objective on shares of Atlantic Union Bankshares in a report on Thursday, June 11th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Atlantic Union Bankshares has an average rating of "Moderate Buy" and an average target price of $45.57.

Atlantic Union Bankshares Company Profile

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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