Public Sector Pension Investment Board Has $12.86 Million Holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Key Points

• The Public Sector Pension Investment Board increased its stake in Atlantic Union Bankshares by 84.5%, acquiring an additional 189,110 shares in the first quarter, bringing its total ownership to approximately 0.46% of the company valued at $12.85 million.
• Atlantic Union Bankshares recently announced a quarterly dividend of $0.34 per share, which will be paid to stockholders on August 18th, representing a 4.1% dividend yield.
• The company reported earnings of $0.95 EPS in the most recent quarter, exceeding analysts' expectations, with revenue showing a 92.0% year-over-year increase.

Public Sector Pension Investment Board increased its position in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 84.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 412,816 shares of the company's stock after buying an additional 189,110 shares during the period. Public Sector Pension Investment Board owned 0.46% of Atlantic Union Bankshares worth $12,855,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AUB. Nuveen LLC purchased a new stake in shares of Atlantic Union Bankshares in the first quarter worth approximately $11,316,000. Aigen Investment Management LP bought a new position in Atlantic Union Bankshares in the first quarter worth approximately $777,000. Entropy Technologies LP boosted its position in Atlantic Union Bankshares by 156.6% during the 1st quarter. Entropy Technologies LP now owns 14,879 shares of the company's stock valued at $463,000 after acquiring an additional 9,080 shares in the last quarter. Invesco Ltd. boosted its position in Atlantic Union Bankshares by 207.5% during the 1st quarter. Invesco Ltd. now owns 1,016,402 shares of the company's stock valued at $31,651,000 after acquiring an additional 685,832 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in Atlantic Union Bankshares by 80.4% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 178,492 shares of the company's stock valued at $5,558,000 after acquiring an additional 79,537 shares in the last quarter. 78.58% of the stock is currently owned by hedge funds and other institutional investors.

Atlantic Union Bankshares Price Performance

Shares of Atlantic Union Bankshares stock traded down $0.62 on Friday, hitting $33.58. The company had a trading volume of 1,215,147 shares, compared to its average volume of 1,455,509. The business has a 50-day simple moving average of $32.16 and a 200-day simple moving average of $31.60. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market cap of $4.79 billion, a PE ratio of 14.66 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.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.80 by $0.15. The business had revenue of $377.22 million during the quarter, compared to the consensus estimate of $369.70 million. Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.50%. The firm's quarterly revenue was up 92.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.63 EPS. Research analysts expect that Atlantic Union Bankshares Co. will post 3.26 EPS for the current fiscal year.

Atlantic Union Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, August 4th will be issued a dividend of $0.34 per share. The ex-dividend date is Monday, August 4th. This represents a $1.36 dividend on an annualized basis and a yield of 4.1%. Atlantic Union Bankshares's payout ratio is currently 66.02%.

Insider Buying and Selling

In other news, Director Frank Russell Ellett acquired 5,000 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The stock was purchased at an average price of $31.54 per share, for a total transaction of $157,700.00. Following the completion of the acquisition, the director owned 76,606 shares in the company, valued at $2,416,153.24. This trade represents a 6.98% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO John C. Asbury purchased 7,500 shares of the business's stock in a transaction on Monday, July 28th. The stock was bought at an average cost of $32.91 per share, for a total transaction of $246,825.00. Following the purchase, 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 90 days, insiders have purchased 18,941 shares of company stock valued at $606,502. Corporate insiders own 0.87% of the company's stock.

Wall Street Analyst Weigh In

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

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.