Atlantic Union Bankshares Co. (NASDAQ:AUB) Director Buys $157,700.00 in 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 acquired 5,000 shares of the business's stock in a transaction dated Thursday, August 7th. The stock was acquired at an average price of $31.54 per share, for a total transaction of $157,700.00. Following the purchase, 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 ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Friday, August 8th, Frank Russell Ellett purchased 1,441 shares of Atlantic Union Bankshares stock. The stock was bought at an average cost of $31.49 per share, for a total transaction of $45,377.09.
• On Tuesday, August 5th, Frank Russell Ellett acquired 5,000 shares of Atlantic Union Bankshares stock. The stock was acquired at an average price of $31.32 per share, with a total value of $156,600.00.

Atlantic Union Bankshares Stock Down 0.9%

Atlantic Union Bankshares stock traded down $0.28 during mid-day trading on Monday, reaching $31.77. 42,732 shares of the company were exchanged, compared to its average volume of 1,458,262. 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 business has a fifty day moving average of $31.88 and a 200 day moving average of $31.63. Atlantic Union Bankshares Co. has a 12-month low of $22.85 and a 12-month high of $44.54. The firm has a market cap of $4.53 billion, a P/E ratio of 13.90 and a beta of 0.88.

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

Atlantic Union Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, August 4th will be issued a $0.34 dividend. 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 is presently 66.02%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in shares of Atlantic Union Bankshares by 1.9% during the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 81,153 shares of the company's stock worth $2,538,000 after purchasing an additional 1,540 shares during the last quarter. Rockefeller Capital Management L.P. bought a new stake in shares of Atlantic Union Bankshares during the 2nd quarter valued at about $777,000. Kingsview Wealth Management LLC purchased a new position in shares of Atlantic Union Bankshares during the 2nd quarter valued at about $407,000. Westwood Holdings Group Inc. boosted its holdings in Atlantic Union Bankshares by 10.4% in the second 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 in the last quarter. Finally, Intech Investment Management LLC boosted its holdings 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. 78.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AUB. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Atlantic Union Bankshares in a research note on Wednesday, July 30th. Jefferies Financial Group set a $37.00 price objective on shares of Atlantic Union Bankshares and gave the company a "buy" rating in a research note on Wednesday, May 21st. Piper Sandler lowered their target price on 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, Keefe, Bruyette & Woods boosted their target price on Atlantic Union Bankshares from $33.00 to $34.00 and gave the stock a "market perform" rating in a report on Monday, August 4th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $38.33.

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.