Wills Financial Group LLC Invests $2.28 Million in Atlantic Union Bankshares Co. $AUB

Key Points

• Wills Financial Group disclosed a new position in Atlantic Union Bankshares, buying 64,640 shares worth about $2.28 million in the fourth quarter.
• Other institutional investors have also been active in the stock, including large increases from AQR Capital and Goldman Sachs. Overall, institutional investors own 78.58% of Atlantic Union Bankshares.
• The company reported mixed quarterly results, with EPS of $0.89 missing estimates and revenue also below expectations. Despite that, it paid a quarterly dividend of $0.37 per share, implying a 3.8% yield, and analysts currently rate the stock a Moderate Buy on average.

Wills Financial Group LLC acquired a new position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 64,640 shares of the company's stock, valued at approximately $2,282,000.

Other hedge funds also recently made changes to their positions in the company. AQR Capital Management LLC lifted its stake in Atlantic Union Bankshares by 634.3% in the first quarter. AQR Capital Management LLC now owns 41,902 shares of the company's stock worth $1,305,000 after purchasing an additional 36,196 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Atlantic Union Bankshares by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 53,232 shares of the company's stock worth $1,658,000 after purchasing an additional 2,322 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Atlantic Union Bankshares by 36.0% in the first quarter. Goldman Sachs Group Inc. now owns 2,137,072 shares of the company's stock worth $66,548,000 after purchasing an additional 565,564 shares during the last quarter. Empowered Funds LLC bought a new stake in Atlantic Union Bankshares in the first quarter worth $3,011,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Atlantic Union Bankshares by 9.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 249,378 shares of the company's stock worth $7,766,000 after purchasing an additional 22,078 shares during the last quarter. 78.58% of the stock is owned by institutional investors.

Insider Activity

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

Atlantic Union Bankshares Price Performance

Shares of NASDAQ AUB opened at $38.63 on Wednesday. Atlantic Union Bankshares Co. has a 1 year low of $29.64 and a 1 year high of $42.18. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.91 and a quick ratio of 0.91. The company's 50-day moving average is $37.42 and its 200 day moving average is $37.10. The stock has a market capitalization of $5.53 billion, a P/E ratio of 16.87 and a beta of 0.80.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last announced its quarterly earnings results on Tuesday, April 21st. The company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $371.71 million for the quarter, compared to analysts' expectations of $391.24 million. During the same quarter in the prior year, the firm earned $0.90 EPS. On average, sell-side analysts expect that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current year.

Atlantic Union Bankshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were given a dividend of $0.37 per share. The ex-dividend date was Friday, May 22nd. This represents a $1.48 annualized dividend and a dividend yield of 3.8%. Atlantic Union Bankshares's payout ratio is currently 62.71%.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Piper Sandler lowered their price target on shares of Atlantic Union Bankshares from $47.50 to $45.00 and set an "overweight" rating for the company in a research note on Wednesday, April 22nd. Morgan Stanley boosted their price target on shares of Atlantic Union Bankshares from $44.00 to $47.00 and gave the stock an "equal weight" rating in a research note on Monday, March 2nd. TD Cowen boosted their price target on shares of Atlantic Union Bankshares from $44.00 to $45.00 and gave the stock a "buy" rating in a research note on Tuesday, May 12th. Finally, Zacks Research downgraded shares of Atlantic Union Bankshares from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, March 31st. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Atlantic Union Bankshares presently has an average rating of "Moderate Buy" and a consensus price target of $43.63.

Atlantic Union Bankshares Company 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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