Apollon Wealth Management LLC Invests $311,000 in Atlantic Union Bankshares Co. $AUB

Apollon Wealth Management LLC acquired a new position in Atlantic Union Bankshares Co. (NASDAQ:AUB) in the second quarter, Holdings Channel.com reports. The fund acquired 9,927 shares of the company’s stock, valued at approximately $311,000.

A number of other institutional investors have also recently made changes to their positions in the business. SG Americas Securities LLC purchased a new stake in Atlantic Union Bankshares in the first quarter valued at about $310,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Atlantic Union Bankshares by 3.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 19,130 shares of the company’s stock valued at $596,000 after acquiring an additional 614 shares in the last quarter. ORG Wealth Partners LLC acquired a new position in shares of Atlantic Union Bankshares during the first quarter valued at about $100,000. Oppenheimer Asset Management Inc. increased its holdings in shares of Atlantic Union Bankshares by 1.9% during the first quarter. Oppenheimer Asset Management Inc. now owns 30,755 shares of the company’s stock valued at $958,000 after acquiring an additional 575 shares in the last quarter. Finally, Asset Management One Co. Ltd. acquired a new position in shares of Atlantic Union Bankshares during the first quarter valued at about $196,000. Institutional investors and hedge funds own 78.58% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on AUB shares. Raymond James Financial reissued a “strong-buy” rating and set a $43.00 target price (up previously from $42.00) on shares of Atlantic Union Bankshares in a research report on Friday, October 3rd. Morgan Stanley lifted their price objective on shares of Atlantic Union Bankshares from $35.00 to $41.00 and gave the stock an “underperform” rating in a research note on Monday, September 29th. Cowen began coverage on Atlantic Union Bankshares in a research note on Wednesday, September 24th. They issued a “buy” rating for the company. Keefe, Bruyette & Woods raised their target price on Atlantic Union Bankshares from $33.00 to $34.00 and gave the stock a “market perform” rating in a research note on Monday, August 4th. Finally, National Bankshares set a $46.00 price objective on Atlantic Union Bankshares in a report on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $41.56.

Insider Buying and Selling at Atlantic Union Bankshares

In other news, Director Frank Russell Ellett purchased 1,441 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The shares were bought at an average price of $31.49 per share, for a total transaction of $45,377.09. Following the completion of the transaction, the director owned 78,047 shares in the company, valued at $2,457,700.03. This represents a 1.88% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO John C. Asbury bought 7,500 shares of the stock in a transaction dated Monday, July 28th. The shares were purchased at an average cost of $32.91 per share, for a total transaction of $246,825.00. Following the completion of the purchase, the chief executive officer owned 270,532 shares in the company, valued at approximately $8,903,208.12. This represents a 2.85% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 18,941 shares of company stock worth $606,502. 0.87% of the stock is owned by company insiders.

Atlantic Union Bankshares Price Performance

Shares of AUB opened at $33.95 on Friday. Atlantic Union Bankshares Co. has a fifty-two week low of $22.85 and a fifty-two week high of $44.54. 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 company has a market capitalization of $4.84 billion, a P/E ratio of 14.82 and a beta of 0.87. The business’s 50-day moving average is $35.06 and its two-hundred day moving average is $31.69.

Atlantic Union Bankshares (NASDAQ:AUB) last issued its earnings results on Thursday, July 24th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.15. Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%.The firm had revenue of $377.22 million for the quarter, compared to the consensus estimate of $369.70 million. During the same quarter in the prior year, the business earned $0.63 earnings per share. The company’s revenue was up 92.0% compared to the same quarter last year. 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 company also recently announced a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 4th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend was Monday, August 4th. Atlantic Union Bankshares’s payout ratio is 66.02%.

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.