Tritonpoint Wealth LLC Takes Position in Atlantic Union Bankshares Co. $AUB

Key Points

• Tritonpoint Wealth LLC acquired a new stake in Atlantic Union Bankshares, buying 17,205 shares valued at approximately $538,000 in the second quarter.
• CEO John C. Asbury purchased 7,500 shares of Atlantic Union Bankshares at an average price of $32.91 per share, increasing his total ownership in the company to 270,532 shares valued at about $8.9 million.
• Atlantic Union Bankshares recently declared a quarterly dividend of $0.34 per share, representing an annualized yield of 3.8% with a payout ratio of 66.02%.

Tritonpoint Wealth LLC bought a new stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 17,205 shares of the company's stock, valued at approximately $538,000.

Several other large investors have also recently made changes to their positions in the business. Xponance Inc. lifted its holdings in shares of Atlantic Union Bankshares by 5.8% during the first quarter. Xponance Inc. now owns 6,798 shares of the company's stock valued at $212,000 after purchasing an additional 374 shares during the last quarter. Corebridge Financial Inc. lifted its holdings in shares of Atlantic Union Bankshares by 0.8% during the first quarter. Corebridge Financial Inc. now owns 48,026 shares of the company's stock valued at $1,496,000 after purchasing an additional 396 shares during the last quarter. CWM LLC lifted its holdings in shares of Atlantic Union Bankshares by 99.4% during the first quarter. CWM LLC now owns 1,049 shares of the company's stock valued at $33,000 after purchasing an additional 523 shares during the last quarter. OneDigital Investment Advisors LLC increased its position in shares of Atlantic Union Bankshares by 8.7% during the first quarter. OneDigital Investment Advisors LLC now owns 6,619 shares of the company's stock valued at $206,000 after acquiring an additional 527 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. increased its position in shares of Atlantic Union Bankshares by 1.9% during the first quarter. Oppenheimer Asset Management Inc. now owns 30,755 shares of the company's stock valued at $958,000 after acquiring an additional 575 shares in the last quarter. 78.58% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Atlantic Union Bankshares news, CEO John C. Asbury acquired 7,500 shares of the business's stock in a transaction dated Monday, July 28th. The stock was purchased at an average price of $32.91 per share, with a total value of $246,825.00. Following the transaction, the chief executive officer directly owned 270,532 shares in the company, valued at approximately $8,903,208.12. The trade was a 2.85% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frank Russell Ellett acquired 1,441 shares of the business's stock in a transaction dated Friday, August 8th. The shares were acquired at an average cost of $31.49 per share, with a total value of $45,377.09. Following the transaction, the director owned 78,047 shares in the company, valued at approximately $2,457,700.03. This trade represents a 1.88% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have bought 18,941 shares of company stock valued at $606,502. Insiders own 0.87% of the company's stock.

Atlantic Union Bankshares Trading Up 0.9%

NASDAQ:AUB opened at $35.95 on Monday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.13. Atlantic Union Bankshares Co. has a 12 month low of $22.85 and a 12 month high of $44.54. The company has a market cap of $5.12 billion, a PE ratio of 15.70 and a beta of 0.90. The company has a 50 day simple moving average of $34.23 and a two-hundred day simple moving average of $31.36.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last posted its earnings results on Thursday, July 24th. The company reported $0.95 EPS for the quarter, topping 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 the consensus estimate of $369.70 million. During the same quarter in the previous year, the firm posted $0.63 EPS. The firm's revenue was up 92.0% on a year-over-year basis. Research analysts forecast that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current year.

Atlantic Union Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 4th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Monday, August 4th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.8%. Atlantic Union Bankshares's payout ratio is presently 66.02%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AUB. TD Cowen began coverage on shares of Atlantic Union Bankshares in a research report on Thursday. They set a "buy" rating and a $46.00 price target for the company. Raymond James Financial reissued a "strong-buy" rating on shares of Atlantic Union Bankshares in a research report on Wednesday, July 30th. National Bankshares set a $46.00 price target on shares of Atlantic Union Bankshares in a research report on Wednesday. Piper Sandler reduced their price target on shares of Atlantic Union Bankshares from $46.00 to $45.00 and set an "overweight" rating for the company in a research report on Friday, July 25th. Finally, Keefe, Bruyette & Woods raised their price target on shares of 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 research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Atlantic Union Bankshares presently has an average rating of "Moderate Buy" and a consensus price target of $40.25.

Atlantic Union Bankshares Company 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.

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