Atlantic Union Bankshares Co. $AUB Shares Sold by London Co. of Virginia

London Co. of Virginia cut its stake in Atlantic Union Bankshares Co. (NYSE:AUB) by 3.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 820,010 shares of the company’s stock after selling 27,396 shares during the period. London Co. of Virginia’s holdings in Atlantic Union Bankshares were worth $29,307,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. UBS Group AG grew its position in shares of Atlantic Union Bankshares by 10.9% during the fourth quarter. UBS Group AG now owns 475,259 shares of the company’s stock worth $16,777,000 after buying an additional 46,867 shares in the last quarter. Sovran Advisors LLC purchased a new stake in shares of Atlantic Union Bankshares during the fourth quarter worth approximately $1,204,000. AlphaCore Capital LLC acquired a new stake in Atlantic Union Bankshares in the fourth quarter valued at approximately $1,941,000. William Blair Investment Management LLC raised its holdings in Atlantic Union Bankshares by 8.8% in the fourth quarter. William Blair Investment Management LLC now owns 1,111,244 shares of the company’s stock valued at $39,227,000 after acquiring an additional 89,794 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its stake in Atlantic Union Bankshares by 1,292.0% in the fourth quarter. Hsbc Holdings PLC now owns 106,335 shares of the company’s stock worth $3,752,000 after acquiring an additional 98,696 shares during the last quarter. Hedge funds and other institutional investors own 78.58% of the company’s stock.

Atlantic Union Bankshares Stock Performance

Shares of Atlantic Union Bankshares stock opened at $42.18 on Friday. The firm has a market capitalization of $6.04 billion, a P/E ratio of 12.59 and a beta of 0.79. Atlantic Union Bankshares Co. has a 52 week low of $30.39 and a 52 week high of $43.62. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.15. The firm’s 50 day moving average is $40.02 and its two-hundred day moving average is $38.48.

Atlantic Union Bankshares (NYSE:AUB) last released its quarterly earnings data on Tuesday, July 21st. The company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.02. Atlantic Union Bankshares had a net margin of 21.97% and a return on equity of 10.55%. The company had revenue of $387.57 million for the quarter, compared to analysts’ expectations of $389.06 million. During the same quarter last year, the company earned $0.95 earnings per share. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. Research analysts forecast that Atlantic Union Bankshares Co. will post 3.76 EPS for the current fiscal year.

Atlantic Union Bankshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Friday, August 7th will be given a $0.37 dividend. The ex-dividend date of this dividend is Friday, August 7th. This represents a $1.48 dividend on an annualized basis and a yield of 3.5%. Atlantic Union Bankshares’s payout ratio is 44.18%.

Analyst Upgrades and Downgrades

Several research analysts have commented on AUB shares. Weiss Ratings began coverage on shares of Atlantic Union Bankshares in a report on Monday, July 6th. They set a “buy (b-)” rating for the company. Morgan Stanley lifted their price objective on shares of Atlantic Union Bankshares from $42.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. Zacks Research downgraded shares of Atlantic Union Bankshares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 31st. Piper Sandler reissued an “overweight” rating and issued a $47.00 target price on shares of Atlantic Union Bankshares in a report on Wednesday. Finally, Stephens restated an “overweight” rating and issued a $46.00 price target on shares of Atlantic Union Bankshares in a research note on Thursday, June 11th. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Atlantic Union Bankshares presently has a consensus rating of “Moderate Buy” and an average target price of $44.12.

About Atlantic Union Bankshares

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.