Truist Financial Corp Raises Stock Holdings in Atlantic Union Bankshares Co. $AUB

Truist Financial Corp raised its position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 11.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 181,264 shares of the company’s stock after buying an additional 18,107 shares during the quarter. Truist Financial Corp owned about 0.13% of Atlantic Union Bankshares worth $6,397,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Janney Montgomery Scott LLC grew its position in Atlantic Union Bankshares by 55.1% during the 2nd quarter. Janney Montgomery Scott LLC now owns 60,541 shares of the company’s stock valued at $1,894,000 after purchasing an additional 21,513 shares during the last quarter. StoneX Group Inc. bought a new position in shares of Atlantic Union Bankshares in the second quarter worth approximately $1,447,000. Verity & Verity LLC lifted its stake in shares of Atlantic Union Bankshares by 29.6% in the third quarter. Verity & Verity LLC now owns 504,420 shares of the company’s stock worth $17,801,000 after buying an additional 115,245 shares in the last quarter. Creative Planning grew its holdings in shares of Atlantic Union Bankshares by 738.9% during the second quarter. Creative Planning now owns 95,445 shares of the company’s stock valued at $2,986,000 after buying an additional 84,068 shares during the last quarter. Finally, Elizabeth Park Capital Advisors Ltd. bought a new stake in shares of Atlantic Union Bankshares during the second quarter valued at approximately $2,378,000. 78.58% of the stock is owned by hedge funds and other institutional investors.

Atlantic Union Bankshares Price Performance

NASDAQ AUB opened at $39.59 on Tuesday. The stock has a market capitalization of $5.64 billion, a price-to-earnings ratio of 17.29 and a beta of 0.83. Atlantic Union Bankshares Co. has a 1-year low of $22.85 and a 1-year high of $40.71. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.91 and a quick ratio of 0.91. The business’s fifty day moving average price is $36.64 and its 200-day moving average price is $34.91.

Atlantic Union Bankshares (NASDAQ:AUB) last posted its quarterly earnings data on Thursday, January 22nd. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.11. The company had revenue of $391.33 million during the quarter, compared to analysts’ expectations of $378.95 million. Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%.During the same quarter in the prior year, the business earned $0.67 earnings per share. On average, equities analysts predict that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current year.

Atlantic Union Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Friday, February 13th. Atlantic Union Bankshares’s dividend payout ratio is 72.55%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AUB. Piper Sandler decreased their price objective on shares of Atlantic Union Bankshares from $45.00 to $41.50 and set an “overweight” rating for the company in a report on Friday, October 24th. Stephens lifted their target price on Atlantic Union Bankshares from $43.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, January 26th. Raymond James Financial set a $45.00 price target on Atlantic Union Bankshares in a research note on Thursday, December 11th. Janney Montgomery Scott began coverage on Atlantic Union Bankshares in a research report on Wednesday, October 8th. They set a “buy” rating and a $42.00 price objective on the stock. Finally, Morgan Stanley lifted their price objective on Atlantic Union Bankshares from $41.00 to $44.00 and gave the stock an “equal weight” rating in a report on Thursday, December 11th. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Atlantic Union Bankshares currently has an average rating of “Moderate Buy” and an average target price of $41.95.

Atlantic Union Bankshares Company Profile

Atlantic Union Bankshares, Inc is a bank holding company headquartered in Richmond, Virginia, operating through its principal subsidiary Atlantic Union Bank. The company offers a full suite of commercial and consumer banking services to individuals, businesses and institutions across Virginia, Maryland, North Carolina and the District of Columbia. Leveraging a network of full-service branches, commercial lending offices and digital platforms, Atlantic Union Bankshares focuses on relationship-driven solutions tailored to its regional client base.

Atlantic Union’s product lineup includes traditional deposit accounts, such as checking, savings and money market accounts, along with certificates of deposit.