Intrust Bank NA Lowers Stock Holdings in Atlantic Union Bankshares Co. $AUB

Intrust Bank NA cut its holdings in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 47.9% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 9,738 shares of the company’s stock after selling 8,939 shares during the quarter. Intrust Bank NA’s holdings in Atlantic Union Bankshares were worth $305,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its holdings in Atlantic Union Bankshares by 59.2% in the 2nd quarter. Geode Capital Management LLC now owns 3,375,225 shares of the company’s stock valued at $105,589,000 after buying an additional 1,255,064 shares during the period. Vanguard Group Inc. boosted its position in shares of Atlantic Union Bankshares by 8.9% in the first quarter. Vanguard Group Inc. now owns 11,932,493 shares of the company’s stock worth $371,578,000 after acquiring an additional 978,793 shares during the last quarter. Millennium Management LLC grew its holdings in Atlantic Union Bankshares by 152.3% in the first quarter. Millennium Management LLC now owns 1,136,526 shares of the company’s stock valued at $35,391,000 after purchasing an additional 686,137 shares during the period. Invesco Ltd. increased its position in Atlantic Union Bankshares by 207.5% during the first quarter. Invesco Ltd. now owns 1,016,402 shares of the company’s stock worth $31,651,000 after purchasing an additional 685,832 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Atlantic Union Bankshares by 36.0% during the first quarter. Goldman Sachs Group Inc. now owns 2,137,072 shares of the company’s stock worth $66,548,000 after purchasing an additional 565,564 shares during the last quarter. 78.58% of the stock is owned by institutional investors and hedge funds.

Atlantic Union Bankshares Stock Up 0.4%

Shares of Atlantic Union Bankshares stock opened at $31.42 on Wednesday. Atlantic Union Bankshares Co. has a twelve month low of $22.85 and a twelve month high of $44.54. The stock has a market cap of $4.48 billion, a price-to-earnings ratio of 13.72 and a beta of 0.94. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.13. The company has a fifty day moving average price of $34.28 and a 200 day moving average price of $32.88.

Atlantic Union Bankshares (NASDAQ:AUB) last issued its quarterly earnings data on Thursday, October 23rd. The company reported $0.84 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.02). Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%.The company had revenue of $319.21 million for the quarter, compared to analyst estimates of $377.92 million. During the same quarter in the prior year, the firm earned $0.83 EPS. The company’s revenue for the quarter was up 69.8% compared to the same quarter last year. Equities research analysts forecast that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current fiscal year.

Atlantic Union Bankshares Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be issued a $0.37 dividend. The ex-dividend date is Friday, November 14th. This represents a $1.48 dividend on an annualized basis and a yield of 4.7%. This is a boost from Atlantic Union Bankshares’s previous quarterly dividend of $0.34. Atlantic Union Bankshares’s dividend payout ratio (DPR) is currently 79.14%.

Analyst Ratings Changes

AUB has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods increased 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 note on Monday, August 4th. Cowen reaffirmed a “buy” rating on shares of Atlantic Union Bankshares in a research report on Monday, October 27th. Morgan Stanley boosted their price target on Atlantic Union Bankshares from $35.00 to $41.00 and gave the company an “underperform” rating in a research report on Monday, September 29th. Raymond James Financial restated a “strong-buy” rating on shares of Atlantic Union Bankshares in a report on Friday, October 24th. Finally, Janney Montgomery Scott started coverage on Atlantic Union Bankshares in a research note on Wednesday, October 8th. They issued a “buy” rating and a $42.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $40.61.

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.