30,528 Atlantic Union Bankshares Co. $AUB Shares Purchased by Congress Asset Management Co.

Congress Asset Management Co. increased its stake in Atlantic Union Bankshares Co. (NYSE:AUB) by 1.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,531,692 shares of the company’s stock after acquiring an additional 30,528 shares during the quarter. Congress Asset Management Co. owned about 1.77% of Atlantic Union Bankshares worth $96,078,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Commonwealth Retirement Investments LLC acquired a new position in Atlantic Union Bankshares during the 4th quarter worth approximately $39,000. Nykredit A S acquired a new position in Atlantic Union Bankshares during the 2nd quarter valued at about $51,000. EverSource Wealth Advisors LLC raised its stake 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 worth $55,000 after purchasing an additional 318 shares during the last quarter. Cassaday & Co Wealth Management LLC bought a new position in shares of Atlantic Union Bankshares in the first quarter valued at approximately $104,000. Finally, Main Street Group LTD bought a new stake in Atlantic Union Bankshares during the first quarter worth $110,000. Institutional investors own 78.58% of the company’s stock.

Analysts Set New Price Targets

AUB has been the subject of several recent analyst reports. Piper Sandler reaffirmed an “overweight” rating and issued a $47.00 target price on shares of Atlantic Union Bankshares in a report on Wednesday, July 22nd. Morgan Stanley increased their price target on Atlantic Union Bankshares from $49.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Monday, September 28th. TD Cowen cut their target price on shares of Atlantic Union Bankshares from $48.00 to $44.00 and set a “buy” rating for the company in a research report on Monday. Stephens restated an “overweight” rating and set a $46.00 target price on shares of Atlantic Union Bankshares in a research report on Thursday, June 11th. Finally, Weiss Ratings lowered Atlantic Union Bankshares from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, September 17th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.67.

Atlantic Union Bankshares Trading Down 0.5%

Shares of NYSE:AUB traded down $0.20 on Tuesday, hitting $38.16. The company had a trading volume of 909,055 shares, compared to its average volume of 1,110,074. Atlantic Union Bankshares Co. has a 1 year low of $30.87 and a 1 year high of $43.62. The firm has a market capitalization of $5.45 billion, a price-to-earnings ratio of 11.39 and a beta of 0.80. The firm’s 50-day simple moving average is $40.60 and its two-hundred day simple moving average is $39.32. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.15.

Atlantic Union Bankshares (NYSE:AUB) last issued its quarterly earnings results on Tuesday, July 21st. The company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $389.06 million. During the same period last year, the business earned $0.95 EPS. Atlantic Union Bankshares’s quarterly revenue was up 3.1% compared to the same quarter last year. Equities analysts anticipate that Atlantic Union Bankshares Co. will post 3.76 earnings per share for the current fiscal year.

Atlantic Union Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 7th were paid a dividend of $0.37 per share. The ex-dividend date was Friday, August 7th. This represents a $1.48 dividend on an annualized basis and a yield of 3.9%. Atlantic Union Bankshares’s payout ratio is presently 44.18%.

About Atlantic Union Bankshares

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, families, businesses and institutions.

The bank offers deposit accounts, residential and commercial lending, mortgages, credit cards, cash management, treasury services and online and mobile banking. Through its wealth management and investment services, it also provides financial planning, trust, brokerage and portfolio management solutions.

Atlantic Union Bank serves customers through a network of branches and digital channels across Virginia, Maryland and North Carolina, with a focus on the Mid-Atlantic region.