Trexquant Investment LP Makes New Investment in Atlantic Union Bankshares Co. $AUB

Key Points

• Trexquant Investment LP has acquired a new stake in Atlantic Union Bankshares, purchasing 46,583 shares valued at approximately $1,451,000, representing about 0.05% ownership.
• Analysts have a consensus rating of "Moderate Buy" on Atlantic Union Bankshares, with a target price of $38.33 and various ratings ranging from "Strong Buy" to "Hold."
• The company recently declared a quarterly dividend of $0.34 per share, which translates to a 3.8% dividend yield and a payout ratio of 66.02%.

Trexquant Investment LP bought a new stake 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 and Exchange Commission. The firm bought 46,583 shares of the company's stock, valued at approximately $1,451,000. Trexquant Investment LP owned 0.05% of Atlantic Union Bankshares as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Atlantic Union Bankshares by 8.9% during 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. boosted its holdings in Atlantic Union Bankshares by 6.3% in the 1st quarter. Ameriprise Financial Inc. now owns 2,751,341 shares of the company's stock worth $85,676,000 after buying an additional 163,451 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Atlantic Union Bankshares by 4.0% in the 1st quarter. Victory Capital Management Inc. now owns 1,644,177 shares of the company's stock worth $51,200,000 after buying an additional 63,650 shares during the last quarter. Northern Trust Corp boosted its holdings in Atlantic Union Bankshares by 35.5% in the 1st quarter. Northern Trust Corp now owns 1,573,946 shares of the company's stock worth $49,013,000 after buying an additional 412,730 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in Atlantic Union Bankshares by 19.3% in the 1st quarter. American Century Companies Inc. now owns 1,259,864 shares of the company's stock worth $39,232,000 after buying an additional 203,791 shares during the last quarter. 78.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Atlantic Union Bankshares news, Director Frank Russell Ellett acquired 5,000 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The shares were purchased at an average cost of $31.54 per share, for a total transaction of $157,700.00. Following the completion of the acquisition, the director owned 76,606 shares of the company's stock, valued at approximately $2,416,153.24. The trade was a 6.98% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO John C. Asbury acquired 7,500 shares of the firm's stock in a transaction that occurred on Monday, July 28th. The stock was acquired at an average price of $32.91 per share, for a total transaction of $246,825.00. Following the completion of the acquisition, the chief executive officer directly owned 270,532 shares of the company's stock, valued at $8,903,208.12. The trade was a 2.85% increase in their position. The disclosure for this purchase can be found here. Insiders purchased 18,941 shares of company stock worth $606,502 over the last quarter. 0.87% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Piper Sandler lowered their price objective on Atlantic Union Bankshares from $46.00 to $45.00 and set an "overweight" rating on the stock in a report on Friday, July 25th. Keefe, Bruyette & Woods lifted their price objective on Atlantic Union Bankshares from $33.00 to $34.00 and gave the stock a "market perform" rating in a report on Monday, August 4th. Raymond James Financial reiterated a "strong-buy" rating on shares of Atlantic Union Bankshares in a report on Wednesday, July 30th. Finally, Jefferies Financial Group set a $37.00 price objective on Atlantic Union Bankshares and gave the stock a "buy" rating in a report on Wednesday, May 21st. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Atlantic Union Bankshares currently has a consensus rating of "Moderate Buy" and an average price target of $38.33.

Atlantic Union Bankshares Price Performance

Shares of Atlantic Union Bankshares stock traded up $0.22 on Thursday, hitting $35.43. 799,233 shares of the company were exchanged, compared to its average volume of 1,391,401. The stock has a market capitalization of $5.05 billion, a price-to-earnings ratio of 15.47 and a beta of 0.90. The company has a 50-day moving average price of $33.67 and a 200 day moving average price of $31.25. Atlantic Union Bankshares Co. has a 1-year low of $22.85 and a 1-year high of $44.54. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.13.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last issued its earnings results on Thursday, July 24th. The company reported $0.95 earnings per share 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 analysts' expectations 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 for the quarter was up 92.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.63 EPS. As a group, sell-side analysts predict that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current fiscal year.

Atlantic Union Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 4th were issued a $0.34 dividend. The ex-dividend date was Monday, August 4th. This represents a $1.36 dividend on an annualized basis and a yield of 3.8%. Atlantic Union Bankshares's dividend payout ratio is currently 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.