Y Intercept Hong Kong Ltd Buys New Holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Y Intercept Hong Kong Ltd bought a new stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 38,806 shares of the company's stock, valued at approximately $1,208,000.

Several other large investors also recently added to or reduced their stakes in AUB. HighTower Advisors LLC boosted its position in shares of Atlantic Union Bankshares by 15.8% during the fourth quarter. HighTower Advisors LLC now owns 18,784 shares of the company's stock valued at $712,000 after buying an additional 2,561 shares during the period. Xponance Inc. grew its holdings in shares of Atlantic Union Bankshares by 9.5% in the fourth quarter. Xponance Inc. now owns 6,424 shares of the company's stock worth $243,000 after purchasing an additional 556 shares during the last quarter. American Century Companies Inc. boosted its position in Atlantic Union Bankshares by 3,195.3% in the 4th quarter. American Century Companies Inc. now owns 1,056,073 shares of the company's stock valued at $40,004,000 after buying an additional 1,024,025 shares during the period. Sei Investments Co. grew its stake in Atlantic Union Bankshares by 63.4% in the 4th quarter. Sei Investments Co. now owns 616,796 shares of the company's stock worth $23,364,000 after acquiring an additional 239,325 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Atlantic Union Bankshares during the fourth quarter valued at $680,000. 78.58% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on AUB shares. Piper Sandler cut their price target on shares of Atlantic Union Bankshares from $46.00 to $45.00 and set an "overweight" rating on the stock in a report on Friday. Raymond James Financial raised shares of Atlantic Union Bankshares from an "outperform" rating to a "strong-buy" rating and raised their price objective for the stock from $37.00 to $41.00 in a research note on Tuesday, June 10th. Keefe, Bruyette & Woods decreased their target price on shares of Atlantic Union Bankshares from $40.00 to $33.00 and set a "market perform" rating for the company in a research note on Monday, April 28th. Jefferies Financial Group set a $37.00 price objective on shares of Atlantic Union Bankshares and gave the stock a "buy" rating in a research report on Wednesday, May 21st. Finally, Morgan Stanley initiated coverage on shares of Atlantic Union Bankshares in a report on Wednesday, April 9th. They issued an "equal weight" rating and a $32.00 price target for the company. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Atlantic Union Bankshares presently has an average rating of "Moderate Buy" and a consensus target price of $38.00.

Atlantic Union Bankshares Stock Performance

NASDAQ:AUB traded down $0.01 during mid-day trading on Friday, reaching $33.08. 1,127,331 shares of the stock were exchanged, compared to its average volume of 1,471,518. The company has a 50 day simple moving average of $31.45 and a 200-day simple moving average of $32.07. The stock has a market capitalization of $4.71 billion, a P/E ratio of 14.44 and a beta of 0.86. Atlantic Union Bankshares Co. has a 1 year low of $22.85 and a 1 year high of $44.54. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.13.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last issued its earnings results on Thursday, July 24th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.80 by $0.15. Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%. The business had revenue of $377.22 million during the quarter, compared to the consensus estimate of $369.70 million. During the same period in the prior year, the business posted $0.63 EPS. The company's revenue for the quarter was up 92.0% on a year-over-year basis. Analysts anticipate that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current fiscal year.

Atlantic Union Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, August 4th will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.11%. The ex-dividend date is Monday, August 4th. Atlantic Union Bankshares's payout ratio is currently 62.10%.

About Atlantic Union Bankshares

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.