Frank Russell Ellett Purchases 1,441 Shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) Stock

Key Points

• Frank Russell Ellett, a director of Atlantic Union Bankshares Co., acquired 1,441 shares at an average price of $31.49, totaling approximately $45,377, which increased his ownership to 78,047 shares.
• The company reported earnings per share (EPS) of $0.95 for the last quarter, exceeding the consensus estimate by $0.15, and experienced a significant year-over-year revenue growth of 92%.
• Atlantic Union Bankshares announced a quarterly dividend of $0.34 per share, with an annualized yield of 4.3%, and has a dividend payout ratio of 66.02%.

Atlantic Union Bankshares Co. (NASDAQ:AUB - Get Free Report) Director Frank Russell Ellett acquired 1,441 shares of the company's stock in a transaction on Friday, August 8th. The shares were purchased at an average cost of $31.49 per share, with a total value of $45,377.09. Following the completion of the acquisition, the director directly owned 78,047 shares in the company, valued at approximately $2,457,700.03. The trade was a 1.88% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Frank Russell Ellett also recently made the following trade(s):

• On Thursday, August 7th, Frank Russell Ellett purchased 5,000 shares of Atlantic Union Bankshares stock. The stock was bought at an average cost of $31.54 per share, with a total value of $157,700.00.
• On Tuesday, August 5th, Frank Russell Ellett purchased 5,000 shares of Atlantic Union Bankshares stock. The stock was bought at an average cost of $31.32 per share, with a total value of $156,600.00.

Atlantic Union Bankshares Stock Up 3.2%

NASDAQ AUB traded up $1.02 during trading hours on Tuesday, reaching $32.92. 111,203 shares of the company's stock were exchanged, compared to its average volume of 1,454,724. The company's 50-day moving average is $31.92 and its two-hundred day moving average is $31.60. Atlantic Union Bankshares Co. has a one year low of $22.85 and a one year high of $44.54. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market capitalization of $4.69 billion, a price-to-earnings ratio of 14.39 and a beta of 0.88.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last posted 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 analysts' expectations of $369.70 million. During the same period in the prior year, the business earned $0.63 EPS. Atlantic Union Bankshares's revenue for the quarter was up 92.0% compared to the same quarter last year. On average, analysts forecast that Atlantic Union Bankshares Co. will post 3.26 EPS for the current fiscal year.

Atlantic Union Bankshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, August 4th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Monday, August 4th. This represents a $1.36 dividend on an annualized basis and a yield of 4.1%. Atlantic Union Bankshares's dividend payout ratio is 66.02%.

Hedge Funds Weigh In On Atlantic Union Bankshares

A number of large investors have recently bought and sold shares of AUB. North Reef Capital Management LP acquired a new position in Atlantic Union Bankshares during the 4th quarter worth approximately $78,942,000. Geode Capital Management LLC boosted its position in Atlantic Union Bankshares by 59.2% during the 2nd quarter. Geode Capital Management LLC now owns 3,375,225 shares of the company's stock worth $105,589,000 after acquiring an additional 1,255,064 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Atlantic Union Bankshares by 62.0% during the 4th quarter. Ameriprise Financial Inc. now owns 2,587,890 shares of the company's stock worth $98,029,000 after acquiring an additional 990,583 shares during the last quarter. Vanguard Group Inc. boosted its position in Atlantic Union Bankshares by 8.9% during the 1st quarter. Vanguard Group Inc. now owns 11,932,493 shares of the company's stock worth $371,578,000 after acquiring an additional 978,793 shares during the last quarter. Finally, Millennium Management LLC boosted its position in 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. Institutional investors and hedge funds own 78.58% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AUB. Piper Sandler lowered their price target 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. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Atlantic Union Bankshares in a research note on Wednesday, July 30th. Keefe, Bruyette & Woods upped their price target on Atlantic Union Bankshares from $33.00 to $34.00 and gave the company a "market perform" rating in a research note on Monday, August 4th. Finally, Jefferies Financial Group set a $37.00 target price on Atlantic Union Bankshares and gave the stock a "buy" rating in a research note on Wednesday, May 21st. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $38.33.

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.