Yousif Capital Management LLC Purchases 20,493 Shares of Atlantic Union Bankshares Co. $AUB

Key Points

• Yousif Capital Management LLC increased its holdings in Atlantic Union Bankshares by 61.8% during Q2, acquiring an additional 20,493 shares for a total worth of approximately $1.68 million.
• Analysts have a consensus rating of "Moderate Buy" for Atlantic Union Bankshares, with target prices ranging from $34.00 to $46.00.
• The company recently declared a quarterly dividend of $0.34 per share, reflecting a 4.0% dividend yield based on its current payout ratio of 66.02%.

Yousif Capital Management LLC lifted its position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 61.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 53,635 shares of the company's stock after acquiring an additional 20,493 shares during the quarter. Yousif Capital Management LLC's holdings in Atlantic Union Bankshares were worth $1,678,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in AUB. SG Americas Securities LLC bought a new position in shares of Atlantic Union Bankshares during the 1st quarter worth $310,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Atlantic Union Bankshares by 3.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 19,130 shares of the company's stock worth $596,000 after acquiring an additional 614 shares during the period. Oppenheimer Asset Management Inc. grew its stake in shares of 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 acquiring an additional 575 shares during the period. Asset Management One Co. Ltd. bought a new position in shares of Atlantic Union Bankshares during the 1st quarter worth $196,000. Finally, Illinois Municipal Retirement Fund grew its stake in shares of Atlantic Union Bankshares by 3.7% during the 1st quarter. Illinois Municipal Retirement Fund now owns 50,285 shares of the company's stock worth $1,566,000 after acquiring an additional 1,774 shares during the period. Institutional investors own 78.58% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on AUB shares. Keefe, Bruyette & Woods raised their target price 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 cut their target price on Atlantic Union Bankshares from $46.00 to $45.00 and set an "overweight" rating for the company in a research note on Friday, July 25th. Cowen started coverage on Atlantic Union Bankshares in a research note on Wednesday, September 24th. They issued a "buy" rating for the company. Morgan Stanley raised their target price on Atlantic Union Bankshares from $35.00 to $41.00 and gave the stock an "underperform" rating in a research note on Monday, September 29th. Finally, National Bankshares set a $46.00 target price on Atlantic Union Bankshares in a research note on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $41.56.

Atlantic Union Bankshares Stock Performance

NASDAQ:AUB opened at $33.95 on Monday. The business's 50-day moving average price is $35.06 and its two-hundred day moving average price is $31.73. Atlantic Union Bankshares Co. has a twelve month low of $22.85 and a twelve month high of $44.54. The stock has a market cap of $4.84 billion, a P/E ratio of 14.82 and a beta of 0.87. 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 released its quarterly earnings results 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. Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%.The firm had revenue of $377.22 million for the quarter, compared to analysts' expectations of $369.70 million. During the same quarter last year, the firm posted $0.63 EPS. The company's revenue was up 92.0% compared to the same quarter last year. As a group, equities analysts predict that Atlantic Union Bankshares Co. will post 3.26 EPS for the current fiscal year.

Atlantic Union Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 4th were issued a $0.34 dividend. The ex-dividend date of this dividend was Monday, August 4th. This represents a $1.36 annualized dividend and a dividend yield of 4.0%. Atlantic Union Bankshares's dividend payout ratio (DPR) is presently 66.02%.

Insider Activity

In other news, Director Frank Russell Ellett acquired 1,441 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were bought at an average cost of $31.49 per share, with a total value of $45,377.09. Following the acquisition, the director owned 78,047 shares in the company, valued at approximately $2,457,700.03. This represents a 1.88% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John C. Asbury acquired 7,500 shares of the firm's stock in a transaction that occurred on Monday, July 28th. The shares were purchased at an average cost 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 in the company, valued at $8,903,208.12. This represents a 2.85% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 18,941 shares of company stock worth $606,502. Insiders own 0.87% of the company's stock.

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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