Atlantic Union Bankshares (NYSE:AUB) Director Ronald Tillett Sells 4,500 Shares of Company Stock

Atlantic Union Bankshares Co. (NYSE:AUB) Director Ronald Tillett sold 4,500 shares of Atlantic Union Bankshares stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $40.01, for a total value of $180,045.00. Following the transaction, the director owned 30,364 shares in the company, valued at approximately $1,214,863.64. This represents a 12.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Atlantic Union Bankshares Stock Down 2.1%

NYSE:AUB opened at $39.55 on Wednesday. Atlantic Union Bankshares Co. has a 1 year low of $30.87 and a 1 year high of $43.62. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.17. The stock has a market cap of $5.65 billion, a price-to-earnings ratio of 10.81 and a beta of 0.83. The stock has a 50-day moving average price of $39.14 and a two-hundred day moving average price of $39.09.

Atlantic Union Bankshares (NYSE:AUB) last announced its quarterly earnings results on Tuesday, October 20th. The company reported $0.96 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.96. The company had revenue of $387.90 million during the quarter, compared to the consensus estimate of $392.72 million. Atlantic Union Bankshares had a return on equity of 10.79% and a net margin of 23.97%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.84 earnings per share. As a group, equities analysts expect that Atlantic Union Bankshares Co. will post 3.77 earnings per share for the current year.

Atlantic Union Bankshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Friday, November 13th will be given a $0.40 dividend. The ex-dividend date is Friday, November 13th. This represents a $1.60 annualized dividend and a dividend yield of 4.0%. This is a boost from Atlantic Union Bankshares’s previous quarterly dividend of $0.37. Atlantic Union Bankshares’s payout ratio is presently 40.44%.

Analyst Ratings Changes

A number of research firms recently issued reports on AUB. TD Cowen lowered their target price on Atlantic Union Bankshares from $44.00 to $43.00 and set a “buy” rating for the company in a research note on Wednesday, October 21st. Morgan Stanley lifted their price target on shares of Atlantic Union Bankshares from $49.00 to $50.00 and gave the company an “equal weight” rating in a research note on Monday, September 28th. Weiss Ratings upgraded shares of Atlantic Union Bankshares from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Finally, Piper Sandler reduced their price target on shares of Atlantic Union Bankshares from $47.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, October 21st. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $45.80.

Hedge Funds Weigh In On Atlantic Union Bankshares

Large investors have recently added to or reduced their stakes in the company. Arizona State Retirement System grew its stake in shares of Atlantic Union Bankshares by 0.8% during the 2nd quarter. Arizona State Retirement System now owns 39,473 shares of the company’s stock worth $1,670,000 after acquiring an additional 307 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Atlantic Union Bankshares by 25.9% in the first quarter. EverSource Wealth Advisors LLC now owns 1,544 shares of the company’s stock valued at $55,000 after purchasing an additional 318 shares during the last quarter. Park Avenue Securities LLC lifted its position in shares of Atlantic Union Bankshares by 2.7% in the third quarter. Park Avenue Securities LLC now owns 12,523 shares of the company’s stock worth $475,000 after purchasing an additional 327 shares in the last quarter. CoreCap Advisors LLC lifted its position in shares of Atlantic Union Bankshares by 15.9% in the third quarter. CoreCap Advisors LLC now owns 2,660 shares of the company’s stock worth $101,000 after purchasing an additional 365 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its position in shares of Atlantic Union Bankshares by 24.2% in the third quarter. Farther Finance Advisors LLC now owns 1,881 shares of the company’s stock worth $71,000 after purchasing an additional 366 shares in the last quarter. Institutional investors own 78.58% of the company’s stock.

Atlantic Union Bankshares Company Profile

Atlantic Union Bankshares Corporation (NYSE:AUB) is a financial services holding company headquartered in Richmond, Virginia. Its principal subsidiary, Atlantic Union Bank, provides banking and related financial services to individuals, businesses, institutions and government entities.

The company offers consumer and commercial deposit accounts, residential and commercial real estate lending, business loans, personal loans, treasury and cash management services, mortgage banking, investment and wealth management, and other financial solutions.