Vanguard Group Inc. Cuts Stock Position in Atlantic Union Bankshares Co. $AUB

Key Points

• Vanguard trimmed its stake by 0.9% in Q4, selling 138,828 shares and finishing the period with 16,022,656 shares (about 11.24% of Atlantic Union) valued at $565.6 million.
• Atlantic Union missed quarterly expectations, reporting EPS of $0.89 vs. $0.92 expected and revenue of $371.7M vs. $391.2M, with a market capitalization of $5.32B and a P/E of 16.25.
• Institutional ownership is high at 78.58%, and several funds materially increased positions in the quarter (e.g., SG Americas +6,808% to 1.53M shares; State Street added ~1.46M shares), indicating strong institutional engagement.

Vanguard Group Inc. lessened its stake in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 0.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,022,656 shares of the company's stock after selling 138,828 shares during the quarter. Vanguard Group Inc. owned approximately 11.24% of Atlantic Union Bankshares worth $565,600,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AUB. SG Americas Securities LLC increased its holdings in Atlantic Union Bankshares by 6,808.0% in the 4th quarter. SG Americas Securities LLC now owns 1,532,473 shares of the company's stock worth $54,096,000 after acquiring an additional 1,510,289 shares in the last quarter. State Street Corp increased its holdings in Atlantic Union Bankshares by 24.5% in the 2nd quarter. State Street Corp now owns 7,400,456 shares of the company's stock worth $231,486,000 after acquiring an additional 1,457,647 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in Atlantic Union Bankshares by 1,128.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 1,398,654 shares of the company's stock worth $49,358,000 after acquiring an additional 1,284,759 shares in the last quarter. North Reef Capital Management LP increased its holdings in Atlantic Union Bankshares by 35.0% in the 3rd quarter. North Reef Capital Management LP now owns 3,713,604 shares of the company's stock worth $131,053,000 after acquiring an additional 963,604 shares in the last quarter. Finally, Tributary Capital Management LLC increased its holdings in Atlantic Union Bankshares by 91.4% in the 3rd quarter. Tributary Capital Management LLC now owns 1,414,240 shares of the company's stock worth $49,909,000 after acquiring an additional 675,524 shares in the last quarter. Hedge funds and other institutional investors own 78.58% of the company's stock.

Insider Buying and Selling at Atlantic Union Bankshares

In related news, Director Nancy H. Agee bought 650 shares of the company's stock in a transaction that occurred on Monday, April 20th. The stock was purchased at an average price of $39.05 per share, for a total transaction of $25,382.50. Following the acquisition, the director owned 37,797 shares of the company's stock, valued at approximately $1,475,972.85. This trade represents a 1.75% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.96% of the company's stock.

Atlantic Union Bankshares Trading Down 1.9%

Shares of AUB opened at $37.20 on Tuesday. 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 $28.11 and a 12-month high of $42.18. The firm has a 50-day moving average price of $36.71 and a 200 day moving average price of $36.28. The firm has a market capitalization of $5.32 billion, a P/E ratio of 16.25 and a beta of 0.80.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last announced its quarterly earnings data on Tuesday, April 21st. The company reported $0.89 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.92 by ($0.03). Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.50%. The firm had revenue of $371.71 million during the quarter, compared to analysts' expectations of $391.24 million. During the same period in the prior year, the company posted $0.90 EPS. Sell-side analysts forecast that Atlantic Union Bankshares Co. will post 3.26 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on AUB shares. Morgan Stanley increased their target price on shares of Atlantic Union Bankshares from $44.00 to $47.00 and gave the company an "equal weight" rating in a research report on Monday, March 2nd. Zacks Research cut shares of Atlantic Union Bankshares from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 31st. Stephens increased their target price on shares of Atlantic Union Bankshares from $43.00 to $45.00 and gave the company an "overweight" rating in a research report on Monday, January 26th. Finally, Piper Sandler reduced their target price on shares of Atlantic Union Bankshares from $47.50 to $45.00 and set an "overweight" rating for the company in a research report on Wednesday, April 22nd. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $42.89.

Atlantic Union Bankshares Profile

Atlantic Union Bankshares, Inc is a bank holding company headquartered in Richmond, Virginia, operating through its principal subsidiary Atlantic Union Bank. The company offers a full suite of commercial and consumer banking services to individuals, businesses and institutions across Virginia, Maryland, North Carolina and the District of Columbia. Leveraging a network of full-service branches, commercial lending offices and digital platforms, Atlantic Union Bankshares focuses on relationship-driven solutions tailored to its regional client base.

Atlantic Union's product lineup includes traditional deposit accounts, such as checking, savings and money market accounts, along with certificates of deposit.

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