Atlantic Union Bankshares Co. (NASDAQ:AUB) Director Frank Russell Ellett Purchases 5,000 Shares

Key Points

• Frank Russell Ellett, a director at Atlantic Union Bankshares, purchased 5,000 shares of stock at an average price of $31.32, totaling approximately $156,600.
• The company recently declared a quarterly dividend of $0.34 per share, translating to an annualized dividend yield of 4.3%.
• Atlantic Union Bankshares reported a 92% increase in revenue year-over-year, with earnings per share (EPS) of $0.95 for the latest quarter, exceeding analysts' expectations.

Atlantic Union Bankshares Co. (NASDAQ:AUB - Get Free Report) Director Frank Russell Ellett acquired 5,000 shares of Atlantic Union Bankshares stock in a transaction dated Tuesday, August 5th. The shares were acquired at an average price of $31.32 per share, with a total value of $156,600.00. Following the completion of the transaction, the director owned 66,606 shares of the company's stock, valued at approximately $2,086,099.92. This trade represents a 8.12% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

• On Friday, August 8th, Frank Russell Ellett acquired 1,441 shares of Atlantic Union Bankshares stock. The stock was acquired at an average price of $31.49 per share, with a total value of $45,377.09.
• On Thursday, August 7th, Frank Russell Ellett acquired 5,000 shares of Atlantic Union Bankshares stock. The shares were purchased at an average cost of $31.54 per share, with a total value of $157,700.00.

Atlantic Union Bankshares Trading Down 0.9%

Shares of AUB traded down $0.28 during midday trading on Monday, reaching $31.77. The company had a trading volume of 42,732 shares, compared to its average volume of 1,458,262. The stock has a market cap of $4.53 billion, a PE ratio of 13.90 and a beta of 0.88. 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 Co. has a 1-year low of $22.85 and a 1-year high of $44.54. The firm has a 50 day simple moving average of $31.88 and a 200-day simple moving average of $31.63.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last announced its 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 company had revenue of $377.22 million for the quarter, compared to the consensus estimate of $369.70 million. During the same period last year, the business posted $0.63 EPS. The company's revenue was up 92.0% on a year-over-year basis. Research analysts forecast that Atlantic Union Bankshares Co. will post 3.26 EPS for the current fiscal year.

Atlantic Union Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, August 4th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Monday, August 4th. This represents a $1.36 annualized dividend and a dividend yield of 4.3%. Atlantic Union Bankshares's dividend payout ratio (DPR) is currently 66.02%.

Wall Street Analyst Weigh In

AUB has been the topic of several research reports. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Atlantic Union Bankshares in a research report on Wednesday, July 30th. Jefferies Financial Group set a $37.00 target price on shares of Atlantic Union Bankshares and gave the stock a "buy" rating in a research note on Wednesday, May 21st. Piper Sandler dropped 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 research report on Friday, July 25th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Atlantic Union Bankshares from $33.00 to $34.00 and gave the company a "market perform" rating in a report on Monday, August 4th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $38.33.

Institutional Trading of Atlantic Union Bankshares

Hedge funds and other institutional investors have recently modified their holdings of the business. Universal Beteiligungs und Servicegesellschaft mbH raised its stake in shares of Atlantic Union Bankshares by 1.9% in the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 81,153 shares of the company's stock valued at $2,538,000 after acquiring an additional 1,540 shares during the last quarter. Rockefeller Capital Management L.P. bought a new position in Atlantic Union Bankshares during the second quarter worth $777,000. Kingsview Wealth Management LLC bought a new stake in shares of Atlantic Union Bankshares during the second quarter worth about $407,000. Westwood Holdings Group Inc. grew its position in shares of Atlantic Union Bankshares by 10.4% during the 2nd quarter. Westwood Holdings Group Inc. now owns 2,376,734 shares of the company's stock valued at $74,344,000 after acquiring an additional 224,267 shares during the period. Finally, Intech Investment Management LLC lifted its stake in shares of Atlantic Union Bankshares by 58.1% during the 2nd quarter. Intech Investment Management LLC now owns 80,133 shares of the company's stock valued at $2,507,000 after buying an additional 29,432 shares in the last quarter. Institutional investors and hedge funds own 78.58% of the company's stock.

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.