Tributary Capital Management LLC Raises Stock Position in Atlantic Union Bankshares Co. $AUB

Tributary Capital Management LLC boosted its position in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 8.2% during the 2nd quarter, HoldingsChannel reports. The firm owned 738,716 shares of the company’s stock after buying an additional 55,921 shares during the quarter. Atlantic Union Bankshares makes up about 2.0% of Tributary Capital Management LLC’s investment portfolio, making the stock its 9th largest position. Tributary Capital Management LLC’s holdings in Atlantic Union Bankshares were worth $23,107,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of AUB. CWM LLC lifted its position in Atlantic Union Bankshares by 99.4% in the 1st quarter. CWM LLC now owns 1,049 shares of the company’s stock valued at $33,000 after purchasing an additional 523 shares during the last quarter. Fifth Third Bancorp lifted its position in Atlantic Union Bankshares by 50.2% in the 2nd quarter. Fifth Third Bancorp now owns 2,052 shares of the company’s stock valued at $64,000 after purchasing an additional 686 shares during the last quarter. Concord Wealth Partners lifted its position in Atlantic Union Bankshares by 304.1% in the 1st quarter. Concord Wealth Partners now owns 2,728 shares of the company’s stock valued at $85,000 after purchasing an additional 2,053 shares during the last quarter. Signaturefd LLC lifted its position in Atlantic Union Bankshares by 731.9% in the 2nd quarter. Signaturefd LLC now owns 3,577 shares of the company’s stock valued at $112,000 after purchasing an additional 3,147 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in Atlantic Union Bankshares by 270.6% in the 2nd quarter. GAMMA Investing LLC now owns 3,962 shares of the company’s stock valued at $124,000 after purchasing an additional 2,893 shares during the last quarter. 78.58% of the stock is currently owned by institutional investors.

Atlantic Union Bankshares Stock Down 0.4%

AUB stock opened at $33.99 on Thursday. Atlantic Union Bankshares Co. has a 52 week low of $22.85 and a 52 week high of $44.54. The company has a market capitalization of $4.84 billion, a price-to-earnings ratio of 14.84 and a beta of 0.87. The firm’s 50-day moving average is $35.12 and its two-hundred day moving average is $31.82. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.13.

Atlantic Union Bankshares (NASDAQ:AUB) last released 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 net margin of 15.53% and a return on equity of 8.50%. The business had revenue of $377.22 million for the quarter, compared to the consensus estimate of $369.70 million. During the same period in the previous year, the firm earned $0.63 EPS. The business’s revenue for the quarter was up 92.0% on a year-over-year basis. On average, analysts forecast that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AUB. Cowen began coverage on shares of Atlantic Union Bankshares in a research report on Wednesday, September 24th. They issued a “buy” rating on the stock. Keefe, Bruyette & Woods boosted their price target on shares of Atlantic Union Bankshares from $33.00 to $34.00 and gave the stock a “market perform” rating in a research report on Monday, August 4th. Raymond James Financial restated a “strong-buy” rating and set a $43.00 price target (up from $42.00) on shares of Atlantic Union Bankshares in a research report on Friday, October 3rd. National Bankshares set a $46.00 price target on shares of Atlantic Union Bankshares in a research report on Wednesday, September 24th. Finally, Piper Sandler dropped their price target on shares of Atlantic Union Bankshares from $46.00 to $45.00 and set an “overweight” rating on the stock in a research report on Friday, July 25th. One 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $41.56.

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.