Insider Buying: Atlantic Union Bankshares Co. (NASDAQ:AUB) Director Buys 5,000 Shares of Stock

Key Points

• Frank Russell Ellett, a director at Atlantic Union Bankshares Co., purchased 5,000 shares of stock at an average price of $31.54, raising his total holdings to 76,606 shares valued at approximately $2.4 million.
• Atlantic Union Bankshares recently declared a $0.34 quarterly dividend, with a yield of 4.3%, to be paid on August 18th to shareholders of record on August 4th.
• The company's earnings per share for the last quarter were reported at $0.95, above the consensus estimate of $0.80, with a revenue increase of 92% year-over-year.

Atlantic Union Bankshares Co. (NASDAQ:AUB - Get Free Report) Director Frank Russell Ellett purchased 5,000 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The shares were bought at an average price of $31.54 per share, with a total value of $157,700.00. Following the completion of the acquisition, the director owned 76,606 shares of the company's stock, valued at $2,416,153.24. This trade represents a 6.98% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

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

Atlantic Union Bankshares Stock Performance

Shares of Atlantic Union Bankshares stock traded down $0.29 during trading on Thursday, reaching $31.40. The company's stock had a trading volume of 1,481,587 shares, compared to its average volume of 1,467,732. The firm has a market cap of $4.47 billion, a price-to-earnings ratio of 13.71 and a beta of 0.88. Atlantic Union Bankshares Co. has a one year low of $22.85 and a one year high of $44.54. The business's fifty day moving average price is $31.82 and its 200-day moving average price is $31.79. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.91 and a current ratio of 0.91.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last released 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 net margin of 15.53% and a return on equity of 8.50%. The business had revenue of $377.22 million during the quarter, compared to analysts' expectations of $369.70 million. During the same quarter last year, the company earned $0.63 earnings per share. The firm's revenue was up 92.0% on a year-over-year basis. As a group, equities research analysts predict that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current year.

Atlantic Union Bankshares Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Morgan Stanley began coverage on Atlantic Union Bankshares in a research note on Wednesday, April 9th. They issued an "equal weight" rating and a $32.00 target price on the stock. Keefe, Bruyette & Woods increased their price objective on Atlantic Union Bankshares from $33.00 to $34.00 and gave the stock a "market perform" rating in a report on Monday. Jefferies Financial Group set a $37.00 target price on shares of Atlantic Union Bankshares and gave the company 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 note on Friday, July 25th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating on shares of Atlantic Union Bankshares in a research note on Wednesday, July 30th. Two equities research 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 company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $38.33.

Institutional Investors Weigh In On Atlantic Union Bankshares

Several institutional investors and hedge funds have recently bought and sold shares of the business. North Reef Capital Management LP bought a new stake in Atlantic Union Bankshares in the fourth quarter valued at about $78,942,000. Ameriprise Financial Inc. boosted its holdings in Atlantic Union Bankshares by 62.0% during the fourth quarter. Ameriprise Financial Inc. now owns 2,587,890 shares of the company's stock valued at $98,029,000 after purchasing an additional 990,583 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of 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 raised its holdings in shares of Atlantic Union Bankshares by 152.3% in the 1st quarter. Millennium Management LLC now owns 1,136,526 shares of the company's stock worth $35,391,000 after buying an additional 686,137 shares in the last quarter. Finally, Invesco Ltd. lifted its position 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 buying an additional 685,832 shares during the period. Institutional investors own 78.58% of the company's stock.

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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