Insider Selling: Atlantic Union Bankshares (NYSE:AUB) EVP Sells $309,840.00 in Stock

Key Points

• Atlantic Union Bankshares EVP Matthew Linderman sold 7,746 shares at an average price of $40, generating $309,840 and reducing his ownership by 42.56% to 10,455 shares.
• AUB shares recently traded at $39.70, with a $5.67 billion market capitalization, a P/E ratio of 10.85, and a 52-week range of $30.87 to $43.62.
• The company matched quarterly EPS expectations at $0.96, while revenue rose 3.3% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $45.80.

Atlantic Union Bankshares Co. (NYSE:AUB - Get Free Report) EVP Matthew Linderman sold 7,746 shares of the firm's stock in a transaction dated Thursday, October 22nd. The stock was sold at an average price of $40.00, for a total value of $309,840.00. Following the completion of the transaction, the executive vice president owned 10,455 shares in the company, valued at approximately $418,200. This trade represents a 42.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Atlantic Union Bankshares Stock Performance

Shares of Atlantic Union Bankshares stock traded down $0.19 during trading on Monday, hitting $39.70. 1,342,209 shares of the stock were exchanged, compared to its average volume of 1,131,147. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.94 and a current ratio of 0.94. Atlantic Union Bankshares Co. has a 12 month low of $30.87 and a 12 month high of $43.62. The stock's fifty day moving average is $39.39 and its 200 day moving average is $39.62. The stock has a market cap of $5.67 billion, a PE ratio of 10.85 and a beta of 0.80.

Atlantic Union Bankshares (NYSE:AUB - Get Free Report) last announced its quarterly earnings data on Tuesday, October 20th. The company reported $0.96 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.96. The firm had revenue of $387.90 million during the quarter, compared to the consensus estimate of $392.72 million. Atlantic Union Bankshares had a return on equity of 10.79% and a net margin of 23.97%. The business's revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.84 EPS. As a group, sell-side analysts anticipate that Atlantic Union Bankshares Co. will post 3.77 EPS for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on AUB shares. Piper Sandler cut their price objective on Atlantic Union Bankshares from $47.00 to $45.00 and set an "overweight" rating for the company in a report on Wednesday, October 21st. Morgan Stanley boosted their target price on Atlantic Union Bankshares from $49.00 to $50.00 and gave the company an "equal weight" rating in a research note on Monday, September 28th. TD Cowen lowered their target price on Atlantic Union Bankshares from $44.00 to $43.00 and set a "buy" rating on the stock in a research note on Wednesday, October 21st. Finally, Weiss Ratings raised Atlantic Union Bankshares from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, October 8th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $45.80.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Bank of America Corp DE raised its holdings in Atlantic Union Bankshares by 53.4% in the 1st quarter. Bank of America Corp DE now owns 886,978 shares of the company's stock valued at $31,701,000 after acquiring an additional 308,934 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Atlantic Union Bankshares by 40.1% in the 1st quarter. Principal Financial Group Inc. now owns 951,373 shares of the company's stock worth $34,002,000 after acquiring an additional 272,119 shares during the period. Fort Washington Investment Advisors Inc. OH grew its holdings in shares of Atlantic Union Bankshares by 36.8% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 829,469 shares of the company's stock worth $29,645,000 after purchasing an additional 223,210 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Atlantic Union Bankshares by 20.8% during the 2nd quarter. Wellington Management Group LLP now owns 721,211 shares of the company's stock worth $30,514,000 after purchasing an additional 124,135 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC grew its holdings in shares of Atlantic Union Bankshares by 286.2% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 149,189 shares of the company's stock worth $6,312,000 after purchasing an additional 110,560 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 NYSE: AUB is a financial services holding company headquartered in Richmond, Virginia. Its principal subsidiary, Atlantic Union Bank, provides banking and related financial services to individuals, businesses, institutions and government entities.

The company offers consumer and commercial deposit accounts, residential and commercial real estate lending, business loans, personal loans, treasury and cash management services, mortgage banking, investment and wealth management, and other financial solutions.

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