Frank Russell Ellett Buys 5,000 Shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) Stock

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 purchased 5,000 shares of the business's stock in a transaction on Tuesday, August 5th. The shares were acquired at an average price of $31.32 per share, for a total transaction of $156,600.00. Following the completion of the purchase, the director directly 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• On Thursday, August 7th, Frank Russell Ellett acquired 5,000 shares of Atlantic Union Bankshares stock. The stock was acquired at an average price of $31.54 per share, with a total value of $157,700.00.

Atlantic Union Bankshares Stock Performance

AUB traded down $0.29 on Thursday, hitting $31.40. 1,481,587 shares of the company traded hands, compared to its average volume of 1,467,732. The company has a 50 day moving average of $31.82 and a 200-day moving average of $31.79. Atlantic Union Bankshares Co. has a 12-month low of $22.85 and a 12-month high of $44.54. The stock has a market capitalization of $4.47 billion, a PE ratio of 13.71 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 (NASDAQ:AUB - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.15. Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.50%. The company had revenue of $377.22 million for the quarter, compared to analysts' expectations of $369.70 million. During the same period in the previous year, the company posted $0.63 EPS. Atlantic Union Bankshares's revenue was up 92.0% compared to the same quarter last year. Sell-side analysts anticipate that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current year.

Atlantic Union Bankshares Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have commented on AUB. Morgan Stanley began coverage on shares of Atlantic Union Bankshares in a research note on Wednesday, April 9th. They issued an "equal weight" rating and a $32.00 price target for the company. Keefe, Bruyette & Woods increased their price target on Atlantic Union Bankshares from $33.00 to $34.00 and gave the company a "market perform" rating in a research report on Monday. Raymond James Financial reissued 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 company a "buy" rating in a report on Wednesday, May 21st. Finally, Piper Sandler lowered their price target 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. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $38.33.

Hedge Funds Weigh In On Atlantic Union Bankshares

Several hedge funds have recently added to or reduced their stakes in the business. NBC Securities Inc. purchased a new position in Atlantic Union Bankshares in the 1st quarter valued at about $25,000. Curio Wealth LLC purchased a new position in shares of Atlantic Union Bankshares in the 2nd quarter worth $28,000. CWM LLC lifted its stake in shares of Atlantic Union Bankshares by 99.4% in the 1st quarter. CWM LLC now owns 1,049 shares of the company's stock valued at $33,000 after purchasing an additional 523 shares in the last quarter. Huntington National Bank lifted its position in Atlantic Union Bankshares by 71.7% during the second quarter. Huntington National Bank now owns 1,298 shares of the company's stock valued at $41,000 after buying an additional 542 shares in the last quarter. Finally, Fifth Third Bancorp lifted its holdings in shares of Atlantic Union Bankshares by 50.2% during the 2nd quarter. Fifth Third Bancorp now owns 2,052 shares of the company's stock valued at $64,000 after acquiring an additional 686 shares in the last quarter. 78.58% of the stock is currently owned by hedge funds and other institutional investors.

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.

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