ZWJ Investment Counsel Inc. Purchases Shares of 8,049 Atlantic Union Bankshares Co. $AUB

Key Points

• ZWJ Investment Counsel Inc. has acquired a stake of 8,049 shares in Atlantic Union Bankshares Co., valued at approximately $252,000, as reported in their latest SEC filing.
• Institutional investors hold 78.58% of Atlantic Union Bankshares' stock, with significant increases in holdings from firms like Vanguard Group Inc. and Millennium Management LLC during the first quarter.
• Atlantic Union Bankshares reported a strong quarterly performance with earnings of $0.95 per share, exceeding estimates, and a revenue increase of 92.0% year-over-year.

ZWJ Investment Counsel Inc. purchased a new stake in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 8,049 shares of the company's stock, valued at approximately $252,000.

Several other large investors have also recently bought and sold shares of AUB. Vanguard Group Inc. boosted its holdings in Atlantic Union Bankshares by 8.9% in the 1st quarter. Vanguard Group Inc. now owns 11,932,493 shares of the company's stock valued at $371,578,000 after purchasing an additional 978,793 shares during the period. Millennium Management LLC lifted its holdings in shares of Atlantic Union Bankshares by 152.3% during the 1st quarter. Millennium Management LLC now owns 1,136,526 shares of the company's stock worth $35,391,000 after acquiring an additional 686,137 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Atlantic Union Bankshares by 207.5% during the 1st quarter. Invesco Ltd. now owns 1,016,402 shares of the company's stock worth $31,651,000 after acquiring an additional 685,832 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Atlantic Union Bankshares by 36.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,137,072 shares of the company's stock worth $66,548,000 after acquiring an additional 565,564 shares during the last quarter. Finally, Stieven Capital Advisors L.P. bought a new stake in shares of Atlantic Union Bankshares during the 1st quarter worth $12,923,000. 78.58% of the stock is owned by institutional investors.

Insider Transactions at Atlantic Union Bankshares

In other news, CEO John C. Asbury acquired 7,500 shares of the firm's stock in a transaction on Monday, July 28th. The shares were purchased at an average price of $32.91 per share, for a total transaction of $246,825.00. Following the completion of the transaction, the chief executive officer owned 270,532 shares of the company's stock, valued at $8,903,208.12. The trade was a 2.85% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frank Russell Ellett acquired 5,000 shares of the firm's stock in a transaction on Thursday, August 7th. The stock was purchased at an average price of $31.54 per share, for a total transaction of $157,700.00. Following the transaction, the director directly owned 76,606 shares of the company's stock, valued at approximately $2,416,153.24. This trade represents a 6.98% increase in their position. The disclosure for this purchase can be found here. Insiders acquired 18,941 shares of company stock worth $606,502 in the last 90 days. Corporate insiders own 0.87% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. National Bankshares set a $46.00 price objective on shares of Atlantic Union Bankshares in a report on Wednesday, September 24th. Keefe, Bruyette & Woods lifted their price objective on shares of Atlantic Union Bankshares from $33.00 to $34.00 and gave the stock a "market perform" rating in a report on Monday, August 4th. Morgan Stanley lifted their price objective on shares of Atlantic Union Bankshares from $35.00 to $41.00 and gave the stock an "underperform" rating in a report on Monday, September 29th. Raymond James Financial reaffirmed a "strong-buy" rating and set a $43.00 price objective (up from $42.00) on shares of Atlantic Union Bankshares in a report on Friday. Finally, Piper Sandler dropped their price objective on shares of Atlantic Union Bankshares from $46.00 to $45.00 and set an "overweight" rating for the company in a report on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $41.50.

Atlantic Union Bankshares Stock Performance

Atlantic Union Bankshares stock opened at $35.71 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $5.09 billion, a PE ratio of 15.59 and a beta of 0.87. The firm has a fifty day simple moving average of $34.44 and a two-hundred day simple moving average of $31.46. Atlantic Union Bankshares Co. has a twelve month low of $22.85 and a twelve month high of $44.54.

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

Atlantic Union Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 4th were given a $0.34 dividend. The ex-dividend date was Monday, August 4th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.8%. Atlantic Union Bankshares's payout ratio is presently 66.02%.

Atlantic Union Bankshares Company 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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