Sei Investments Co. Buys 108,646 Shares of Atlantic Union Bankshares Co. $AUB

Key Points

• Sei Investments increased its Atlantic Union Bankshares stake by 30.8% in the first quarter, adding 108,646 shares to hold 460,912 shares worth approximately $16.5 million. Institutional investors own 78.58% of the stock.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $44.12; recent targets range from $45 to $48.
• Atlantic Union Bankshares exceeded quarterly earnings expectations, reporting $0.94 earnings per share versus the $0.92 consensus estimate, and declared a quarterly dividend of $0.37 per share, yielding about 3.5% annually.

Sei Investments Co. grew its stake in Atlantic Union Bankshares Co. (NYSE:AUB - Free Report) by 30.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 460,912 shares of the company's stock after acquiring an additional 108,646 shares during the quarter. Sei Investments Co. owned about 0.32% of Atlantic Union Bankshares worth $16,473,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Walleye Capital LLC purchased a new position in Atlantic Union Bankshares in the first quarter valued at about $348,000. Cetera Investment Advisers lifted its position in shares of Atlantic Union Bankshares by 9.8% during the first quarter. Cetera Investment Advisers now owns 46,539 shares of the company's stock valued at $1,663,000 after buying an additional 4,165 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Atlantic Union Bankshares by 18.8% during the first quarter. First Trust Advisors LP now owns 322,737 shares of the company's stock valued at $11,535,000 after buying an additional 50,969 shares during the last quarter. Cassaday & Co Wealth Management LLC bought a new stake in shares of Atlantic Union Bankshares in the 1st quarter valued at about $104,000. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Atlantic Union Bankshares by 1.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,635,464 shares of the company's stock valued at $272,883,000 after buying an additional 102,821 shares in the last quarter. 78.58% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on AUB. Weiss Ratings began coverage on shares of Atlantic Union Bankshares in a research note on Monday, July 6th. They set a "buy (b-)" rating for the company. Morgan Stanley raised 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. Stephens reaffirmed an "overweight" rating and issued a $46.00 price target on shares of Atlantic Union Bankshares in a report on Thursday, June 11th. Piper Sandler reaffirmed an "overweight" rating and set a $47.00 price target on shares of Atlantic Union Bankshares in a research report on Wednesday, July 22nd. Finally, TD Cowen increased their price objective on Atlantic Union Bankshares from $46.00 to $48.00 and gave the company a "buy" rating in a report on Wednesday, July 22nd. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, Atlantic Union Bankshares presently has a consensus rating of "Moderate Buy" and a consensus target price of $44.12.

Atlantic Union Bankshares Price Performance

Atlantic Union Bankshares stock opened at $42.55 on Thursday. The stock has a market capitalization of $6.09 billion, a P/E ratio of 12.70 and a beta of 0.79. The company's fifty day moving average price is $40.35 and its 200 day moving average price is $38.61. 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 Co. has a 1 year low of $30.39 and a 1 year high of $43.62.

Atlantic Union Bankshares (NYSE:AUB - Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The company reported $0.94 earnings per share for the quarter, topping analysts' consensus estimates of $0.92 by $0.02. The company 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 firm's revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.95 earnings per share. As a group, equities research analysts anticipate that Atlantic Union Bankshares Co. will post 3.76 earnings per share for the current fiscal year.

Atlantic Union Bankshares Dividend Announcement

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

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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