Strs Ohio Buys New Holdings in Atlantic Union Bankshares Co. $AUB

Key Points

• Strs Ohio has acquired a new stake of 22,230 shares in Atlantic Union Bankshares, valued at approximately $692,000, during the 1st quarter, as per their recent SEC filing.
• The company reported earnings of $0.95 EPS for the last quarter, exceeding estimates, with a revenue of $377.22 million, reflecting a significant 92% increase compared to the previous year.
• Atlantic Union Bankshares recently declared a quarterly dividend of $0.34 per share, representing an annualized yield of 3.7%, with a payout ratio of 66.02%.

Strs Ohio bought a new position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 22,230 shares of the company's stock, valued at approximately $692,000.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Atlantic Union Bankshares by 8.9% in the 1st quarter. Vanguard Group Inc. now owns 11,932,493 shares of the company's stock valued at $371,578,000 after acquiring an additional 978,793 shares during the period. Ameriprise Financial Inc. raised its stake in Atlantic Union Bankshares by 6.3% in the first quarter. Ameriprise Financial Inc. now owns 2,751,341 shares of the company's stock valued at $85,676,000 after buying an additional 163,451 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Atlantic Union Bankshares by 36.0% in the first quarter. Goldman Sachs Group Inc. now owns 2,137,072 shares of the company's stock valued at $66,548,000 after buying an additional 565,564 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Atlantic Union Bankshares by 4.0% during the 1st quarter. Victory Capital Management Inc. now owns 1,644,177 shares of the company's stock worth $51,200,000 after acquiring an additional 63,650 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of Atlantic Union Bankshares by 35.5% during the 1st quarter. Northern Trust Corp now owns 1,573,946 shares of the company's stock worth $49,013,000 after acquiring an additional 412,730 shares during the last quarter. Institutional investors and hedge funds own 78.58% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Piper Sandler decreased 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 report on Friday, July 25th. Raymond James Financial reissued a "strong-buy" rating on shares of Atlantic Union Bankshares in a report on Wednesday, July 30th. Finally, Keefe, Bruyette & Woods upped their target price on Atlantic Union Bankshares from $33.00 to $34.00 and gave the company a "market perform" rating in a research report on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $38.33.

Insider Transactions at Atlantic Union Bankshares

In related news, Director Frank Russell Ellett purchased 1,441 shares of the firm's stock in a transaction dated Friday, August 8th. The stock was bought at an average price of $31.49 per share, with a total value of $45,377.09. Following the completion of the purchase, the director owned 78,047 shares in the company, valued at approximately $2,457,700.03. This represents a 1.88% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO John C. Asbury acquired 7,500 shares of the business's stock in a transaction that occurred 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 completion of the purchase, the chief executive officer owned 270,532 shares of the company's stock, valued at $8,903,208.12. This trade represents a 2.85% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 18,941 shares of company stock worth $606,502 in the last quarter. Corporate insiders own 0.87% of the company's stock.

Atlantic Union Bankshares Price Performance

AUB traded down $0.04 on Friday, reaching $36.52. The stock had a trading volume of 3,452,191 shares, compared to its average volume of 1,389,823. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $5.20 billion, a price-to-earnings ratio of 15.95 and a beta of 0.90. Atlantic Union Bankshares Co. has a fifty-two week low of $22.85 and a fifty-two week high of $44.54. The firm has a 50-day moving average of $33.93 and a 200-day moving average of $31.25.

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

Atlantic Union Bankshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 4th were issued 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 3.7%. Atlantic Union Bankshares's payout ratio is presently 66.02%.

Atlantic Union Bankshares 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.