US Bancorp DE boosted its holdings in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 58.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,981 shares of the company's stock after buying an additional 8,067 shares during the period. US Bancorp DE's holdings in Atlantic Union Bankshares were worth $688,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently bought and sold shares of AUB. Vanguard Group Inc. raised its position in Atlantic Union Bankshares by 8.9% during the first quarter. Vanguard Group Inc. now owns 11,932,493 shares of the company's stock valued at $371,578,000 after buying an additional 978,793 shares during the period. Millennium Management LLC raised its position in Atlantic Union Bankshares by 152.3% during the first quarter. Millennium Management LLC now owns 1,136,526 shares of the company's stock valued at $35,391,000 after buying an additional 686,137 shares during the period. Invesco Ltd. raised its position in Atlantic Union Bankshares by 207.5% during the first quarter. Invesco Ltd. now owns 1,016,402 shares of the company's stock valued at $31,651,000 after buying an additional 685,832 shares during the period. Goldman Sachs Group Inc. raised its position in Atlantic Union Bankshares by 36.0% during 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 period. Finally, Stieven Capital Advisors L.P. acquired a new position in Atlantic Union Bankshares during the first quarter valued at $12,923,000. 78.58% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Atlantic Union Bankshares
In other Atlantic Union Bankshares news, CEO John C. Asbury bought 7,500 shares of the firm's stock in a transaction that occurred on Monday, July 28th. The stock was purchased at an average price of $32.91 per share, for a total transaction of $246,825.00. Following the purchase, the chief executive officer directly owned 270,532 shares in the company, valued at $8,903,208.12. This trade represents a 2.85% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frank Russell Ellett bought 1,441 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were acquired at an average price of $31.49 per share, with a total value of $45,377.09. Following the purchase, the director owned 78,047 shares in the company, valued at $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 90 days, insiders have purchased 18,941 shares of company stock valued at $606,502. 0.87% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
Several research firms recently weighed in on AUB. Morgan Stanley upped their price target on Atlantic Union Bankshares from $35.00 to $41.00 and gave the company an "underperform" rating in a research report on Monday, September 29th. National Bankshares set a $46.00 target price on Atlantic Union Bankshares in a research note on Wednesday, September 24th. Piper Sandler lowered their target price on Atlantic Union Bankshares from $46.00 to $45.00 and set an "overweight" rating on the stock in a research note on Friday, July 25th. TD Cowen initiated coverage on Atlantic Union Bankshares in a research note on Thursday, September 25th. They issued a "buy" rating and a $46.00 target price on the stock. Finally, Janney Montgomery Scott initiated coverage on Atlantic Union Bankshares in a research note on Wednesday, October 8th. They issued a "buy" rating and a $42.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $41.56.
Read Our Latest Analysis on AUB
Atlantic Union Bankshares Stock Performance
AUB opened at $33.95 on Monday. The company has a market cap of $4.84 billion, a PE ratio of 14.82 and a beta of 0.87. The stock has a 50-day moving average of $35.06 and a 200-day moving average of $31.73. Atlantic Union Bankshares Co. has a 52-week low of $22.85 and a 52-week high of $44.54. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.91 and a current ratio of 0.91.
Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.15. The company had revenue of $377.22 million during the quarter, compared to the consensus estimate of $369.70 million. Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%.The firm's revenue was up 92.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.63 EPS. As a group, equities research analysts forecast that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current fiscal year.
Atlantic Union Bankshares Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 4th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Monday, August 4th. Atlantic Union Bankshares's dividend payout ratio is 66.02%.
Atlantic Union Bankshares Company Profile
(
Free Report)
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.
Further Reading

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