StoneX Group Inc. Acquires New Position in Atlantic Union Bankshares Co. $AUB

Key Points

• StoneX Group opened a new position in Atlantic Union Bankshares, buying 50,255 shares worth approximately $1.916 million during the third quarter. Institutional investors collectively own 78.58% of the company’s shares.
• Atlantic Union reported quarterly EPS of $0.96, matching analyst expectations, while revenue of $387.9 million fell short of estimates but increased 3.3% year over year. The company raised its quarterly dividend from $0.37 to $0.40 per share.
• Analysts’ consensus rating is “Moderate Buy”, with an average price target of $45.80. Two company insiders recently sold shares.

StoneX Group Inc. acquired a new stake in Atlantic Union Bankshares Co. (NYSE:AUB - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 50,255 shares of the company's stock, valued at approximately $1,916,000.

A number of other institutional investors have also recently bought and sold shares of the business. Bank of America Corp DE raised its position in shares of Atlantic Union Bankshares by 53.4% during the 1st 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. Principal Financial Group Inc. grew its stake in shares of 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 purchasing an additional 272,119 shares during the period. Wellington Management Group LLP grew its stake in shares of Atlantic Union Bankshares by 20.8% during the second quarter. Wellington Management Group LLP now owns 721,211 shares of the company's stock worth $30,514,000 after purchasing an additional 124,135 shares during the period. Susquehanna Fundamental Investments LLC grew its stake in shares of Atlantic Union Bankshares by 286.2% during the second quarter. Susquehanna Fundamental Investments LLC now owns 149,189 shares of the company's stock worth $6,312,000 after purchasing an additional 110,560 shares during the period. Finally, Sei Investments Co. increased its holdings in Atlantic Union Bankshares by 30.8% in the first quarter. Sei Investments Co. now owns 460,912 shares of the company's stock valued at $16,473,000 after purchasing an additional 108,646 shares during the last quarter. Institutional investors and hedge funds own 78.58% of the company's stock.

Insider Activity

In other Atlantic Union Bankshares news, EVP Matthew L. Linderman sold 7,746 shares of the stock in a transaction dated Thursday, October 22nd. The stock was sold at an average price of $40.00, for a total value of $309,840.00. Following the completion of the sale, the executive vice president directly owned 10,455 shares in the company, valued at $418,200. This represents a 42.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ronald L. Tillett sold 4,500 shares of the firm's stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $40.01, for a total value of $180,045.00. Following the sale, the director directly owned 30,364 shares in the company, valued at approximately $1,214,863.64. This represents a 12.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.96% of the company's stock.

Atlantic Union Bankshares Trading Up 0.2%

AUB opened at $39.40 on Monday. The firm's fifty day moving average is $39.07 and its two-hundred day moving average is $39.11. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market cap of $5.51 billion, a PE ratio of 10.77 and a beta of 0.83. Atlantic Union Bankshares Co. has a twelve month low of $30.87 and a twelve month high of $43.62.

Atlantic Union Bankshares (NYSE:AUB - Get Free Report) last announced its quarterly earnings results on Tuesday, October 20th. The company reported $0.96 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.96. Atlantic Union Bankshares had a net margin of 23.97% and a return on equity of 10.79%. The company had revenue of $387.90 million during the quarter, compared to analyst estimates of $392.72 million. During the same quarter in the previous year, the business earned $0.84 EPS. The firm's revenue was up 3.3% on a year-over-year basis. Equities research analysts anticipate that Atlantic Union Bankshares Co. will post 3.77 EPS for the current year.

Atlantic Union Bankshares Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Friday, November 13th will be issued a dividend of $0.40 per share. This is a boost from Atlantic Union Bankshares's previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 4.1%. The ex-dividend date is Friday, November 13th. Atlantic Union Bankshares's dividend payout ratio is presently 43.72%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. TD Cowen cut their target price on Atlantic Union Bankshares from $44.00 to $43.00 and set a "buy" rating on the stock in a research note on Wednesday, October 21st. Weiss Ratings upgraded Atlantic Union Bankshares from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, October 8th. Morgan Stanley boosted their target price on Atlantic Union Bankshares from $49.00 to $50.00 and gave the stock an "equal weight" rating in a research report on Monday, September 28th. Finally, Piper Sandler lowered their price target on Atlantic Union Bankshares from $47.00 to $45.00 and set an "overweight" rating for the company in a research note on Wednesday, October 21st. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $45.80.

About Atlantic Union Bankshares

Atlantic Union Bankshares Corporation is a bank holding company headquartered in Richmond, Virginia. Its principal subsidiary, Atlantic Union Bank, provides personal and business banking services, including deposit accounts, loans, mortgage lending, cash management and wealth management.

The company serves individuals, businesses and organizations primarily across Virginia, Maryland and North Carolina through a network of branches and digital banking services. Its commercial banking offerings include lending and treasury management services for businesses and other institutions.

The company traces its roots to Union Bank & Trust, established in Virginia in 1902.

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