Oliver Luxxe Assets LLC Sells 24,498 Shares of Atlantic Union Bankshares Co. $AUB

Key Points

• Oliver Luxxe Assets LLC has reduced its holdings in Atlantic Union Bankshares Co. by 35.0%, selling 24,498 shares and now owning 45,426 shares worth approximately $1.42 million.
• Several institutional investors have significantly increased their stakes in Atlantic Union Bankshares, with 78.58% of the stock now held by institutional investors and hedge funds.
• Atlantic Union Bankshares reported earnings of $0.95 per share for the last quarter, outperforming analysts' expectations, and its revenue surged 92.0% year-over-year.

Oliver Luxxe Assets LLC trimmed its holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 35.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 45,426 shares of the company's stock after selling 24,498 shares during the period. Oliver Luxxe Assets LLC's holdings in Atlantic Union Bankshares were worth $1,421,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. NBC Securities Inc. acquired a new stake in Atlantic Union Bankshares during the 1st quarter valued at $25,000. CWM LLC raised its position in shares of Atlantic Union Bankshares by 99.4% in the first quarter. CWM LLC now owns 1,049 shares of the company's stock valued at $33,000 after purchasing an additional 523 shares during the period. Concord Wealth Partners lifted its stake in shares of Atlantic Union Bankshares by 304.1% during 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. ORG Wealth Partners LLC bought a new stake in shares of Atlantic Union Bankshares during the 1st quarter worth about $100,000. Finally, GAMMA Investing LLC grew its stake in Atlantic Union Bankshares by 270.6% in the 2nd quarter. GAMMA Investing LLC now owns 3,962 shares of the company's stock valued at $124,000 after buying an additional 2,893 shares during the last quarter. 78.58% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Atlantic Union Bankshares

In related news, Director Frank Russell Ellett bought 5,000 shares of the business's stock in a transaction on Thursday, August 7th. The shares were purchased 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 approximately $2,416,153.24. This represents a 6.98% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO John C. Asbury purchased 7,500 shares of the stock in a transaction dated Monday, July 28th. The shares were 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 approximately $8,903,208.12. This represents a 2.85% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders purchased 18,941 shares of company stock valued at $606,502. 0.87% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AUB. Keefe, Bruyette & Woods raised 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 research report on Monday, August 4th. Raymond James Financial reissued a "strong-buy" rating on shares of Atlantic Union Bankshares in a report on Wednesday, July 30th. Finally, Piper Sandler reduced their price target on 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. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $38.33.

Atlantic Union Bankshares Price Performance

Shares of AUB stock opened at $36.06 on Tuesday. The business has a fifty day simple moving average of $33.99 and a 200 day simple moving average of $31.25. The company has a market cap of $5.14 billion, a P/E ratio of 15.75 and a beta of 0.90. 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 Co. has a twelve month low of $22.85 and a twelve month high of $44.54.

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. The firm had revenue of $377.22 million for the quarter, compared to analysts' expectations of $369.70 million. Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%.The business's revenue for the quarter was up 92.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.63 earnings per share. On average, sell-side 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 disclosed a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 4th were paid a $0.34 dividend. The ex-dividend date of this dividend was Monday, August 4th. This represents a $1.36 annualized dividend and a yield of 3.8%. Atlantic Union Bankshares's dividend payout ratio is presently 66.02%.

Atlantic Union Bankshares Company 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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