Squarepoint Ops LLC Sells 271,378 Shares of Atlantic Union Bankshares Co. $AUB

Key Points

• Squarepoint Ops LLC cut its Atlantic Union Bankshares stake by 93.3% in the second quarter, selling 271,378 shares and retaining 19,355 shares valued at approximately $819,000. Institutional investors collectively own 78.58% of the company.
• Atlantic Union Bankshares reported quarterly EPS of $0.94, exceeding estimates of $0.92, while revenue reached $387.57 million, up 3.1% year over year but slightly below forecasts.
• The company paid a quarterly dividend of $0.37 per share, equivalent to a $1.48 annualized dividend and a 3.8% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $46.14.

Squarepoint Ops LLC trimmed its stake in shares of Atlantic Union Bankshares Co. (NYSE:AUB - Free Report) by 93.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,355 shares of the company's stock after selling 271,378 shares during the quarter. Squarepoint Ops LLC's holdings in Atlantic Union Bankshares were worth $819,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Bank of America Corp DE increased its position in shares of Atlantic Union Bankshares by 53.4% in the first quarter. Bank of America Corp DE now owns 886,978 shares of the company's stock valued at $31,701,000 after acquiring an additional 308,934 shares during the last quarter. Hsbc Holdings PLC increased its holdings in Atlantic Union Bankshares by 1,292.0% during the fourth quarter. Hsbc Holdings PLC now owns 106,335 shares of the company's stock worth $3,752,000 after buying an additional 98,696 shares during the last quarter. Principal Financial Group Inc. raised its position in Atlantic Union Bankshares by 40.1% during the first quarter. Principal Financial Group Inc. now owns 951,373 shares of the company's stock worth $34,002,000 after acquiring an additional 272,119 shares in the last quarter. William Blair Investment Management LLC raised its position in Atlantic Union Bankshares by 8.8% during the fourth quarter. William Blair Investment Management LLC now owns 1,111,244 shares of the company's stock worth $39,227,000 after acquiring an additional 89,794 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Atlantic Union Bankshares by 1.4% in the first quarter. Dimensional Fund Advisors LP now owns 7,635,464 shares of the company's stock valued at $272,883,000 after acquiring an additional 102,821 shares during the last quarter. 78.58% of the stock is currently owned by institutional investors.

Atlantic Union Bankshares Stock Up 0.1%

NYSE:AUB opened at $39.02 on Friday. Atlantic Union Bankshares Co. has a one year low of $30.87 and a one year high of $43.62. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.93 and a quick ratio of 0.93. The company has a market cap of $5.57 billion, a PE ratio of 11.65 and a beta of 0.78. The firm's 50 day simple moving average is $41.44 and its 200 day simple moving average is $39.07.

Atlantic Union Bankshares (NYSE:AUB - Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The company reported $0.94 EPS for the quarter, beating analysts' consensus estimates of $0.92 by $0.02. The company had revenue of $387.57 million for the quarter, compared to analyst estimates of $389.06 million. Atlantic Union Bankshares had a net margin of 21.97% and a return on equity of 10.55%. The company's quarterly revenue was up 3.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.95 EPS. On average, research analysts anticipate that Atlantic Union Bankshares Co. will post 3.76 earnings per share for the current year.

Atlantic Union Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 7th were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Friday, August 7th. Atlantic Union Bankshares's dividend payout ratio is presently 44.18%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. TD Cowen raised their price objective on shares of Atlantic Union Bankshares from $46.00 to $48.00 and gave the stock a "buy" rating in a research report on Wednesday, July 22nd. Piper Sandler reissued an "overweight" rating and set a $47.00 target price on shares of Atlantic Union Bankshares in a report on Wednesday, July 22nd. Weiss Ratings cut shares of Atlantic Union Bankshares from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday. Morgan Stanley reissued a "reduce" rating and set a $49.00 target price on shares of Atlantic Union Bankshares in a report on Tuesday, September 8th. Finally, Stephens reiterated an "overweight" rating and issued a $46.00 price target on shares of Atlantic Union Bankshares in a research note on Thursday, June 11th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Atlantic Union Bankshares presently has an average rating of "Moderate Buy" and an average target price of $46.14.

About Atlantic Union Bankshares

Atlantic Union Bankshares Corporation is a financial services holding company headquartered in Richmond, Virginia. Its principal subsidiary, Atlantic Union Bank, provides banking and related financial services to individuals, families, businesses, nonprofit organizations and public-sector clients.

The bank's products and services include deposit accounts, consumer and residential lending, commercial and industrial loans, commercial real estate financing, mortgage banking, treasury management, cash management, wealth management and investment services.

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