Atlantic Union Bankshares Co. (NASDAQ:AUB) Stock Holdings Cut by Swiss National Bank

Swiss National Bank cut its position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 0.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 175,247 shares of the company’s stock after selling 900 shares during the quarter. Swiss National Bank owned 0.20% of Atlantic Union Bankshares worth $6,602,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Natixis Advisors LLC grew its position in Atlantic Union Bankshares by 24.2% in the third quarter. Natixis Advisors LLC now owns 60,782 shares of the company’s stock worth $2,290,000 after buying an additional 11,832 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Atlantic Union Bankshares during the 2nd quarter worth $4,096,000. Bank of New York Mellon Corp grew its holdings in shares of Atlantic Union Bankshares by 45.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,180,199 shares of the company’s stock worth $38,770,000 after acquiring an additional 368,190 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Atlantic Union Bankshares during the third quarter worth $7,660,000. Finally, Pinnacle Associates Ltd. lifted its holdings in shares of Atlantic Union Bankshares by 8.6% during the third quarter. Pinnacle Associates Ltd. now owns 290,468 shares of the company’s stock valued at $10,614,000 after purchasing an additional 23,087 shares during the last quarter. Institutional investors and hedge funds own 78.58% of the company’s stock.

Atlantic Union Bankshares Trading Down 2.3 %

Shares of NASDAQ AUB opened at $42.57 on Wednesday. The firm has a market capitalization of $3.82 billion, a PE ratio of 17.66 and a beta of 0.89. Atlantic Union Bankshares Co. has a one year low of $30.22 and a one year high of $44.54. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.13. The business has a 50-day moving average price of $38.93 and a two-hundred day moving average price of $36.67.

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

Atlantic Union Bankshares Increases Dividend

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

Analysts Set New Price Targets

Several analysts have issued reports on the company. Raymond James cut their price objective on Atlantic Union Bankshares from $45.00 to $41.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. Keefe, Bruyette & Woods boosted their price target on shares of Atlantic Union Bankshares from $42.00 to $46.00 and gave the company a “market perform” rating in a report on Friday, November 22nd. Finally, Hovde Group reduced their price target on shares of Atlantic Union Bankshares from $46.00 to $45.00 and set an “outperform” rating for the company in a research report on Friday, September 13th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Atlantic Union Bankshares has a consensus rating of “Moderate Buy” and a consensus target price of $42.00.

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.