Atlantic Union Bankshares Co. (NASDAQ:AUB) Shares Sold by Pitcairn Co.

Pitcairn Co. cut its stake in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 2.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,206 shares of the company’s stock after selling 539 shares during the period. Pitcairn Co.’s holdings in Atlantic Union Bankshares were worth $799,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of AUB. Oppenheimer & Co. Inc. increased its stake in Atlantic Union Bankshares by 5.5% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 8,616 shares of the company’s stock valued at $325,000 after purchasing an additional 450 shares in the last quarter. UMB Bank n.a. increased its position in shares of Atlantic Union Bankshares by 77.7% in the third quarter. UMB Bank n.a. now owns 1,105 shares of the company’s stock valued at $42,000 after buying an additional 483 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Atlantic Union Bankshares by 88.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,041 shares of the company’s stock worth $39,000 after buying an additional 489 shares during the last quarter. Moors & Cabot Inc. boosted its position in shares of Atlantic Union Bankshares by 5.5% in the 2nd quarter. Moors & Cabot Inc. now owns 9,532 shares of the company’s stock worth $313,000 after buying an additional 500 shares in the last quarter. Finally, Trust Point Inc. grew its stake in Atlantic Union Bankshares by 2.0% in the 3rd quarter. Trust Point Inc. now owns 25,998 shares of the company’s stock valued at $979,000 after acquiring an additional 513 shares during the last quarter. 78.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AUB has been the topic of several recent research reports. Hovde Group reduced their price target on shares of Atlantic Union Bankshares from $46.00 to $45.00 and set an “outperform” rating on the stock in a report on Friday, September 13th. Raymond James reduced their target price on Atlantic Union Bankshares from $45.00 to $41.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 2nd. Finally, Keefe, Bruyette & Woods raised their price target on Atlantic Union Bankshares from $42.00 to $46.00 and gave the stock a “market perform” rating in a research report on Friday. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $42.00.

Atlantic Union Bankshares Stock Up 1.8 %

Shares of NASDAQ AUB opened at $42.63 on Monday. The firm has a market cap of $3.83 billion, a P/E ratio of 14.75 and a beta of 0.89. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.90 and a current ratio of 0.90. Atlantic Union Bankshares Co. has a 1 year low of $30.22 and a 1 year high of $43.57. The firm’s 50 day moving average price is $38.82 and its 200 day moving average price is $36.61.

Atlantic Union Bankshares (NASDAQ:AUB) last posted its quarterly earnings data on Monday, October 21st. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.01. Atlantic Union Bankshares had a return on equity of 8.85% and a net margin of 16.25%. The business had revenue of $358.81 million for the quarter, compared to analysts’ expectations of $226.70 million. During the same quarter last year, the firm earned $0.80 earnings per share. As a group, sell-side analysts anticipate that Atlantic Union Bankshares Co. will post 2.93 earnings per share for the current year.

Atlantic Union Bankshares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.19%. This is an increase from Atlantic Union Bankshares’s previous quarterly dividend of $0.32. Atlantic Union Bankshares’s dividend payout ratio is currently 56.43%.

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.