Atlantic Union Bankshares Co. $AUB Shares Sold by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. reduced its stake in Atlantic Union Bankshares by 28.8%, selling 18,929 shares, leaving it with 46,691 shares valued at approximately $1.45 million.
• Several institutional investors, including Vanguard Group and Ameriprise Financial, are increasing their positions in Atlantic Union Bankshares, indicating a growing interest and confidence in the company's stock.
• The company reported impressive earnings of $0.95 per share, surpassing analysts' expectations and seeing a 92% year-over-year revenue increase, with a quarterly dividend recently paid out at $0.34 per share.

Russell Investments Group Ltd. lowered its holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 28.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 46,691 shares of the company's stock after selling 18,929 shares during the period. Russell Investments Group Ltd. owned about 0.05% of Atlantic Union Bankshares worth $1,454,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. NBC Securities Inc. purchased a new position in Atlantic Union Bankshares in the first quarter valued at about $25,000. CWM LLC boosted its holdings in 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 last quarter. Investment Management Corp VA ADV purchased a new position in Atlantic Union Bankshares in the fourth quarter valued at about $72,000. Concord Wealth Partners boosted its holdings in Atlantic Union Bankshares by 304.1% in the first quarter. Concord Wealth Partners now owns 2,728 shares of the company's stock valued at $85,000 after purchasing an additional 2,053 shares during the last quarter. Finally, ORG Wealth Partners LLC purchased a new position in Atlantic Union Bankshares in the first quarter valued at about $100,000. Hedge funds and other institutional investors own 78.58% of the company's stock.

Insider Buying and Selling at Atlantic Union Bankshares

In other news, Director Frank Russell Ellett purchased 1,441 shares of the stock in a transaction dated Friday, August 8th. The shares were bought at an average cost of $31.49 per share, for a total transaction of $45,377.09. Following the transaction, the director owned 78,047 shares in the company, valued at $2,457,700.03. This trade represents a 1.88% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO John C. Asbury purchased 7,500 shares of the stock in a transaction dated Monday, July 28th. The shares were purchased at an average price of $32.91 per share, for a total transaction of $246,825.00. Following the completion of the transaction, the chief executive officer owned 270,532 shares in the company, valued at $8,903,208.12. This trade represents a 2.85% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 18,941 shares of company stock worth $606,502 in the last ninety days. 0.87% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on AUB. Keefe, Bruyette & Woods upped their price objective 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. Piper Sandler cut their price objective on 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 price objective on Atlantic Union Bankshares and gave the company a "buy" rating in a research note on Wednesday, May 21st. Finally, Raymond James Financial restated a "strong-buy" rating on shares of Atlantic Union Bankshares in a research note on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $38.33.

Atlantic Union Bankshares Stock Performance

Shares of NASDAQ AUB traded down $0.25 during mid-day trading on Tuesday, hitting $35.48. The company had a trading volume of 1,232,064 shares, compared to its average volume of 1,420,453. The stock has a market cap of $5.06 billion, a price-to-earnings ratio of 15.49 and a beta of 0.90. Atlantic Union Bankshares Co. has a 12 month low of $22.85 and a 12 month high of $44.54. 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 firm's 50 day simple moving average is $33.18 and its two-hundred day simple moving average is $31.27.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.15. The business had revenue of $377.22 million for the quarter, compared to the consensus estimate 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 was up 92.0% on a year-over-year basis. During the same quarter last year, the business posted $0.63 EPS. As a group, equities research analysts forecast that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current year.

Atlantic Union Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 4th were paid a dividend of $0.34 per share. 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 payout ratio is presently 66.02%.

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.