Walleye Capital LLC Cuts Stock Position in Atlantic Union Bankshares Co. $AUB

Key Points

• Walleye Capital LLC reduced its stake in Atlantic Union Bankshares Co. by 29.8%, holding 21,678 shares valued at approximately $675,000, after selling 9,186 shares in the first quarter.
• Atlantic Union Bankshares reported quarterly earnings of $0.95 per share, surpassing analysts' expectations, with a revenue of $377.22 million, indicating a significant year-over-year improvement.
• The firm issued a quarterly dividend of $0.34, translating to an annualized yield of 3.8%, with a dividend payout ratio of 66.02%.

Walleye Capital LLC reduced its position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 29.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 21,678 shares of the company's stock after selling 9,186 shares during the quarter. Walleye Capital LLC's holdings in Atlantic Union Bankshares were worth $675,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AUB. NBC Securities Inc. bought a new position in shares of Atlantic Union Bankshares during the 1st quarter valued at approximately $25,000. CWM LLC lifted its position in Atlantic Union Bankshares by 99.4% in the first quarter. CWM LLC now owns 1,049 shares of the company's stock worth $33,000 after buying an additional 523 shares during the last quarter. Investment Management Corp VA ADV bought a new stake in Atlantic Union Bankshares in the fourth quarter worth $72,000. Concord Wealth Partners lifted its position in Atlantic Union Bankshares by 304.1% in the first quarter. Concord Wealth Partners now owns 2,728 shares of the company's stock worth $85,000 after buying an additional 2,053 shares during the last quarter. Finally, ORG Wealth Partners LLC bought a new stake in Atlantic Union Bankshares in the first quarter worth $100,000. 78.58% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO John C. Asbury bought 7,500 shares of the business's stock in a transaction on Monday, July 28th. The shares were bought at an average price of $32.91 per share, for a total transaction of $246,825.00. Following the completion of the purchase, the chief executive officer directly owned 270,532 shares of the company's stock, valued at approximately $8,903,208.12. This trade represents a 2.85% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frank Russell Ellett bought 5,000 shares of the business's stock in a transaction on Thursday, August 7th. The stock was bought at an average price of $31.54 per share, for a total transaction of $157,700.00. Following the purchase, the director directly owned 76,606 shares of the company's stock, valued at $2,416,153.24. The trade was a 6.98% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 18,941 shares of company stock worth $606,502 in the last quarter. 0.87% of the stock is owned by insiders.

Atlantic Union Bankshares Stock Up 0.6%

Shares of Atlantic Union Bankshares stock traded up $0.22 during trading on Thursday, hitting $35.79. 259,801 shares of the stock traded hands, compared to its average volume of 1,409,159. The firm has a market cap of $5.10 billion, a P/E ratio of 15.64 and a beta of 0.90. 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 52-week low of $22.85 and a 52-week high of $44.54. The stock's fifty day simple moving average is $33.28 and its 200 day simple moving average is $31.30.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.80 by $0.15. The firm had revenue of $377.22 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm posted $0.63 earnings per share. On average, equities 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 company 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. The ex-dividend date was Monday, August 4th. This represents a $1.36 annualized dividend and a dividend yield of 3.8%. Atlantic Union Bankshares's dividend payout ratio (DPR) is currently 66.02%.

Analyst Ratings Changes

AUB has been the subject of a number of analyst reports. Piper Sandler lowered their price target on 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. Raymond James Financial restated a "strong-buy" rating on shares of Atlantic Union Bankshares in a research report on Wednesday, July 30th. Jefferies Financial Group set a $37.00 price target on Atlantic Union Bankshares and gave the stock a "buy" rating in a research report on Wednesday, May 21st. Finally, Keefe, Bruyette & Woods raised their price target on Atlantic Union Bankshares from $33.00 to $34.00 and gave the stock a "market perform" rating in a research report on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $38.33.

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.