William Blair Investment Management LLC Has $39.23 Million Holdings in Atlantic Union Bankshares Co. $AUB

Key Points

• William Blair Investment Management increased its stake in Atlantic Union Bankshares by 8.8% in the fourth quarter, ending with 1,111,244 shares valued at about $39.23 million.
• The company recently reported quarterly earnings of $0.89 per share, missing estimates of $0.92, and revenue of $371.71 million, also below expectations.
• Atlantic Union Bankshares declared a quarterly dividend of $0.37 per share, implying an annualized yield of about 3.9%; meanwhile, analysts currently rate the stock a Moderate Buy with an average target price of $43.63.

William Blair Investment Management LLC raised its stake in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 8.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,111,244 shares of the company's stock after acquiring an additional 89,794 shares during the quarter. William Blair Investment Management LLC owned about 0.78% of Atlantic Union Bankshares worth $39,227,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Walleye Capital LLC increased its position in Atlantic Union Bankshares by 1.5% in the 2nd quarter. Walleye Capital LLC now owns 22,000 shares of the company's stock valued at $688,000 after acquiring an additional 322 shares in the last quarter. Westside Investment Management Inc. increased its position in Atlantic Union Bankshares by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 780 shares of the company's stock valued at $27,000 after acquiring an additional 390 shares in the last quarter. UMB Bank n.a. increased its position in Atlantic Union Bankshares by 32.5% in the 3rd quarter. UMB Bank n.a. now owns 1,660 shares of the company's stock valued at $59,000 after acquiring an additional 407 shares in the last quarter. Choreo LLC boosted its stake in shares of Atlantic Union Bankshares by 5.2% in the 3rd quarter. Choreo LLC now owns 8,282 shares of the company's stock valued at $292,000 after purchasing an additional 408 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its stake in shares of Atlantic Union Bankshares by 5.7% in the 3rd quarter. Mackenzie Financial Corp now owns 9,137 shares of the company's stock valued at $322,000 after purchasing an additional 492 shares during the last quarter. Institutional investors and hedge funds own 78.58% of the company's stock.

Atlantic Union Bankshares Stock Down 0.0%

Atlantic Union Bankshares stock opened at $37.55 on Monday. The company's 50 day simple moving average is $36.67 and its 200 day simple moving average is $36.65. Atlantic Union Bankshares Co. has a fifty-two week low of $28.11 and a fifty-two week high of $42.18. The firm has a market capitalization of $5.37 billion, a price-to-earnings ratio of 16.40 and a beta of 0.80. 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 (NASDAQ:AUB - Get Free Report) last released its quarterly earnings data on Tuesday, April 21st. The company reported $0.89 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.03). Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%.The firm had revenue of $371.71 million for the quarter, compared to the consensus estimate of $391.24 million. During the same period in the previous year, the business earned $0.90 EPS. As a group, sell-side analysts anticipate that Atlantic Union Bankshares Co. will post 3.26 EPS for the current year.

Atlantic Union Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Friday, May 22nd will be paid a $0.37 dividend. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $1.48 dividend on an annualized basis and a yield of 3.9%. Atlantic Union Bankshares's payout ratio is presently 62.71%.

Insiders Place Their Bets

In related news, Director Nancy H. Agee purchased 650 shares of the business's stock in a transaction on Monday, April 20th. The shares were purchased at an average price of $39.05 per share, with a total value of $25,382.50. Following the completion of the purchase, the director owned 37,797 shares in the company, valued at $1,475,972.85. This represents a 1.75% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.96% of the company's stock.

Wall Street Analyst Weigh In

AUB has been the topic of several recent research reports. Morgan Stanley raised 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 note on Monday, March 2nd. Stephens raised 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 note on Monday, January 26th. Piper Sandler reduced their target price on shares of Atlantic Union Bankshares from $47.50 to $45.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 22nd. Zacks Research lowered shares of Atlantic Union Bankshares from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, March 31st. Finally, TD Cowen raised their target price on shares of Atlantic Union Bankshares from $44.00 to $45.00 and gave the company a "buy" rating in a research note on Tuesday, May 12th. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $43.63.

About Atlantic Union Bankshares

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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