WBI Investments LLC Purchases New Position in Atlantic Union Bankshares Co. $AUB

WBI Investments LLC acquired a new stake in Atlantic Union Bankshares Co. (NASDAQ:AUB) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 29,249 shares of the company’s stock, valued at approximately $915,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AUB. Entropy Technologies LP raised its position in Atlantic Union Bankshares by 156.6% in the 1st quarter. Entropy Technologies LP now owns 14,879 shares of the company’s stock worth $463,000 after buying an additional 9,080 shares during the last quarter. Truist Financial Corp boosted its holdings in shares of Atlantic Union Bankshares by 39.7% during the 2nd quarter. Truist Financial Corp now owns 163,157 shares of the company’s stock valued at $5,104,000 after acquiring an additional 46,353 shares during the last quarter. Signaturefd LLC grew its stake in shares of Atlantic Union Bankshares by 731.9% in the second quarter. Signaturefd LLC now owns 3,577 shares of the company’s stock worth $112,000 after acquiring an additional 3,147 shares during the period. Systematic Financial Management LP raised its holdings in shares of Atlantic Union Bankshares by 3.7% during the first quarter. Systematic Financial Management LP now owns 543,940 shares of the company’s stock valued at $16,938,000 after purchasing an additional 19,475 shares during the last quarter. Finally, Jump Financial LLC purchased a new position in shares of Atlantic Union Bankshares during the first quarter valued at approximately $2,086,000. 78.58% of the stock is owned by institutional investors.

Atlantic Union Bankshares Stock Up 0.4%

AUB opened at $31.42 on Wednesday. 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 Co. has a 1-year low of $22.85 and a 1-year high of $44.54. The company has a market capitalization of $4.48 billion, a PE ratio of 13.72 and a beta of 0.94. The firm’s 50 day simple moving average is $34.28 and its two-hundred day simple moving average is $32.88.

Atlantic Union Bankshares (NASDAQ:AUB) last issued its quarterly earnings data on Thursday, October 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.02). Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.50%. The business had revenue of $319.21 million for the quarter, compared to the consensus estimate of $377.92 million. During the same period in the previous year, the firm earned $0.83 EPS. The company’s revenue was up 69.8% on a year-over-year basis. As a group, equities analysts forecast that Atlantic Union Bankshares Co. will post 3.26 EPS for the current 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 given a $0.37 dividend. The ex-dividend date is Friday, November 14th. This is a positive change from Atlantic Union Bankshares’s previous quarterly dividend of $0.34. This represents a $1.48 dividend on an annualized basis and a yield of 4.7%. Atlantic Union Bankshares’s dividend payout ratio (DPR) is currently 79.14%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on AUB shares. TD Cowen dropped their target price on shares of Atlantic Union Bankshares from $46.00 to $44.00 and set a “buy” rating on the stock in a report on Monday, October 27th. Janney Montgomery Scott started coverage on Atlantic Union Bankshares in a report on Wednesday, October 8th. They set a “buy” rating and a $42.00 price target on the stock. Raymond James Financial restated a “strong-buy” rating on shares of Atlantic Union Bankshares in a research note on Friday, October 24th. Piper Sandler cut their price objective on Atlantic Union Bankshares from $45.00 to $41.50 and set an “overweight” rating for the company in a report on Friday, October 24th. Finally, Keefe, Bruyette & Woods upped their price objective on Atlantic Union Bankshares from $33.00 to $34.00 and gave the company a “market perform” rating in a research report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.