Park Avenue Securities LLC Takes $379,000 Position in Atlantic Union Bankshares Co. $AUB

Key Points

• Park Avenue Securities LLC has taken a new position in Atlantic Union Bankshares Co., acquiring 12,109 shares valued at approximately $379,000 in the second quarter.
• Insiders have been actively buying shares, with Director Frank Russell Ellett and CEO John C. Asbury increasing their stakes, highlighting positive sentiment about the company's future prospects.
• Several analysts have issued ratings on AUB shares, with a consensus rating of "Moderate Buy" and an average target price of $41.38, suggesting a favorable outlook for the company's performance.

Park Avenue Securities LLC acquired a new stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 12,109 shares of the company's stock, valued at approximately $379,000.

Several other large investors also recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC boosted its position in shares of Atlantic Union Bankshares by 174.3% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 52,478 shares of the company's stock valued at $1,760,000 after purchasing an additional 33,348 shares in the last quarter. Gilman Hill Asset Management LLC acquired a new position in shares of Atlantic Union Bankshares in the second quarter worth about $460,000. Westbourne Investments Inc. acquired a new position in shares of Atlantic Union Bankshares in the second quarter worth about $422,000. Inspire Investing LLC acquired a new position in shares of Atlantic Union Bankshares in the first quarter worth about $345,000. Finally, Strs Ohio acquired a new position in shares of Atlantic Union Bankshares in the first quarter worth about $692,000. Institutional investors own 78.58% of the company's stock.

Insider Activity at Atlantic Union Bankshares

In other Atlantic Union Bankshares news, Director Frank Russell Ellett acquired 5,000 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The shares were purchased at an average price of $31.54 per share, with a total value of $157,700.00. Following the completion of the transaction, the director owned 76,606 shares in the company, valued at $2,416,153.24. The trade was a 6.98% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO John C. Asbury acquired 7,500 shares of the business's stock in a transaction that occurred on Monday, July 28th. The shares were acquired at an average cost of $32.91 per share, for a total transaction of $246,825.00. Following the transaction, the chief executive officer 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 ninety days, insiders have purchased 18,941 shares of company stock worth $606,502. Insiders own 0.87% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on AUB shares. Raymond James Financial reiterated a "strong-buy" rating on shares of Atlantic Union Bankshares in a report on Wednesday, July 30th. TD Cowen started coverage on shares of Atlantic Union Bankshares in a report on Thursday, September 25th. They issued a "buy" rating and a $46.00 target price for the company. Keefe, Bruyette & Woods raised 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 report on Monday, August 4th. Morgan Stanley raised their target price on shares of Atlantic Union Bankshares from $35.00 to $41.00 and gave the stock an "underperform" rating in a report on Monday. Finally, Cowen started coverage on shares of Atlantic Union Bankshares in a report on Wednesday, September 24th. They issued a "buy" rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Atlantic Union Bankshares currently has a consensus rating of "Moderate Buy" and an average target price of $41.38.

Atlantic Union Bankshares Price Performance

Shares of AUB opened at $35.25 on Wednesday. The firm has a market cap of $5.02 billion, a PE ratio of 15.39 and a beta of 0.90. The firm's 50 day moving average price is $34.32 and its 200 day moving average price is $31.40. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.91 and a current ratio of 0.91. 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 issued its quarterly earnings data on Thursday, July 24th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.15. The firm 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 earnings per share. As a group, research analysts expect that Atlantic Union Bankshares Co. will post 3.26 EPS for the current fiscal year.

Atlantic Union Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 4th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend was Monday, August 4th. Atlantic Union Bankshares's dividend payout ratio (DPR) 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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