Westbourne Investments Inc. Takes Position in Atlantic Union Bankshares Co. $AUB

Key Points

• Westbourne Investments Inc. acquired 13,500 shares of Atlantic Union Bankshares Co. for approximately $422,000 during the second quarter as indicated in their Form 13F filing.
• CEO John C. Asbury purchased 7,500 shares at a price of $32.91 per share, increasing their holdings to a total value of around $8.9 million.
• Atlantic Union Bankshares recently announced a quarterly dividend of $0.34 per share, contributing to an annualized yield of 3.9%.

Westbourne Investments Inc. purchased a new stake in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 13,500 shares of the company's stock, valued at approximately $422,000.

Several other hedge funds have also added to or reduced their stakes in the business. Xponance Inc. raised its stake in Atlantic Union Bankshares by 5.8% during the 1st quarter. Xponance Inc. now owns 6,798 shares of the company's stock worth $212,000 after buying an additional 374 shares during the period. Corebridge Financial Inc. raised its stake in Atlantic Union Bankshares by 0.8% during the 1st quarter. Corebridge Financial Inc. now owns 48,026 shares of the company's stock worth $1,496,000 after buying an additional 396 shares during the period. CWM LLC raised its stake in Atlantic Union Bankshares by 99.4% during the 1st quarter. CWM LLC now owns 1,049 shares of the company's stock worth $33,000 after buying an additional 523 shares during the period. OneDigital Investment Advisors LLC raised its stake in Atlantic Union Bankshares by 8.7% during the 1st quarter. OneDigital Investment Advisors LLC now owns 6,619 shares of the company's stock worth $206,000 after buying an additional 527 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its stake in Atlantic Union Bankshares by 1.9% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 30,755 shares of the company's stock worth $958,000 after buying an additional 575 shares during the period. Institutional investors and hedge funds own 78.58% of the company's stock.

Insider Transactions at Atlantic Union Bankshares

In other Atlantic Union Bankshares news, CEO John C. Asbury purchased 7,500 shares of Atlantic Union Bankshares stock in a transaction that occurred on Monday, July 28th. The stock was acquired at an average price of $32.91 per share, for a total transaction of $246,825.00. Following the completion of the acquisition, the chief executive officer 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 position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Frank Russell Ellett purchased 5,000 shares of Atlantic Union Bankshares stock in a transaction that occurred on Thursday, August 7th. The shares were acquired at an average price of $31.54 per share, with a total value of $157,700.00. Following the acquisition, the director directly owned 76,606 shares of the company's stock, valued at $2,416,153.24. This trade represents a 6.98% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 18,941 shares of company stock valued at $606,502 in the last quarter. 1.16% of the stock is currently owned by corporate insiders.

Atlantic Union Bankshares Price Performance

Shares of NASDAQ AUB opened at $34.71 on Wednesday. The stock has a market capitalization of $4.95 billion, a price-to-earnings ratio of 15.16 and a beta of 0.90. The business has a 50-day moving average of $33.77 and a 200-day moving average of $31.21. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.91 and a quick ratio of 0.91. Atlantic Union Bankshares Co. has a fifty-two week low of $22.85 and a fifty-two week high of $44.54.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.15. The company had revenue of $377.22 million during the quarter, compared to analysts' expectations of $369.70 million. Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%.Atlantic Union Bankshares's revenue for the quarter was up 92.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.63 EPS. As a group, sell-side analysts predict that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current fiscal year.

Atlantic Union Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 4th were issued a dividend of $0.34 per share. The ex-dividend date was Monday, August 4th. This represents a $1.36 dividend on an annualized basis and a yield of 3.9%. Atlantic Union Bankshares's dividend payout ratio (DPR) is presently 66.02%.

Wall Street Analyst Weigh In

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

Atlantic Union Bankshares 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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