Vest Financial LLC Makes New Investment in Atlantic Union Bankshares Co. $AUB

Key Points

• Vest Financial LLC purchased 49,001 shares of Atlantic Union Bankshares in the third quarter, valued at approximately $1.86 million. Institutional investors and hedge funds collectively own 78.58% of the company.
• Atlantic Union Bankshares reported quarterly EPS of $0.96, matching analyst expectations, while revenue rose 3.3% year over year to $387.9 million but fell short of the $392.72 million consensus estimate.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $45.80, compared with the stock’s recent price of $39.94.

Vest Financial LLC purchased a new stake in Atlantic Union Bankshares Co. (NYSE:AUB - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 49,001 shares of the company's stock, valued at approximately $1,860,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of America Corp DE increased its stake in Atlantic Union Bankshares by 53.4% in the first quarter. Bank of America Corp DE now owns 886,978 shares of the company's stock valued at $31,701,000 after acquiring an additional 308,934 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Atlantic Union Bankshares by 40.1% during the first quarter. Principal Financial Group Inc. now owns 951,373 shares of the company's stock worth $34,002,000 after purchasing an additional 272,119 shares during the last quarter. Fort Washington Investment Advisors Inc. OH lifted its stake in Atlantic Union Bankshares by 36.8% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 829,469 shares of the company's stock worth $29,645,000 after purchasing an additional 223,210 shares during the last quarter. Wellington Management Group LLP lifted its stake in Atlantic Union Bankshares by 20.8% during the second quarter. Wellington Management Group LLP now owns 721,211 shares of the company's stock worth $30,514,000 after purchasing an additional 124,135 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC boosted its holdings in shares of Atlantic Union Bankshares by 286.2% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 149,189 shares of the company's stock valued at $6,312,000 after purchasing an additional 110,560 shares in the last quarter. Institutional investors and hedge funds own 78.58% of the company's stock.

Atlantic Union Bankshares Stock Performance

NYSE AUB opened at $39.94 on Friday. The firm's fifty day moving average price is $39.39 and its two-hundred day moving average price is $39.59. The stock has a market cap of $5.70 billion, a PE ratio of 10.91 and a beta of 0.80. Atlantic Union Bankshares Co. has a fifty-two week low of $30.87 and a fifty-two week high of $43.62. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.93 and a current ratio of 0.94.

Atlantic Union Bankshares (NYSE:AUB - Get Free Report) last announced its quarterly earnings results on Tuesday, October 20th. The company reported $0.96 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.96. Atlantic Union Bankshares had a net margin of 23.97% and a return on equity of 10.79%. The company had revenue of $387.90 million during the quarter, compared to the consensus estimate of $392.72 million. During the same period in the prior year, the business earned $0.84 earnings per share. The company's revenue for the quarter was up 3.3% compared to the same quarter last year. On average, equities analysts expect that Atlantic Union Bankshares Co. will post 3.77 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Weiss Ratings upgraded Atlantic Union Bankshares from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, October 8th. Piper Sandler dropped their price objective on Atlantic Union Bankshares from $47.00 to $45.00 and set an "overweight" rating for the company in a research report on Wednesday. Morgan Stanley raised their price objective on Atlantic Union Bankshares from $49.00 to $50.00 and gave the company an "equal weight" rating in a research note on Monday, September 28th. Finally, TD Cowen decreased their target price on Atlantic Union Bankshares from $44.00 to $43.00 and set a "buy" rating on the stock in a research report on Wednesday. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $45.80.

Atlantic Union Bankshares Company Profile

Atlantic Union Bankshares Corporation NYSE: AUB is a financial services holding company headquartered in Richmond, Virginia. Its principal subsidiary, Atlantic Union Bank, provides banking and related financial services to individuals, businesses, institutions and government entities.

The company offers consumer and commercial deposit accounts, residential and commercial real estate lending, business loans, personal loans, treasury and cash management services, mortgage banking, investment and wealth management, and other financial solutions.

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