Atlantic Union Bankshares Co. $AUB Shares Purchased by Sei Investments Co.

Sei Investments Co. raised its position in Atlantic Union Bankshares Co. (NYSE:AUB) by 30.8% during the first quarter, HoldingsChannel reports. The firm owned 460,912 shares of the company’s stock after purchasing an additional 108,646 shares during the period. Sei Investments Co.’s holdings in Atlantic Union Bankshares were worth $16,473,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AUB. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Atlantic Union Bankshares in the fourth quarter valued at about $87,022,000. State Street Corp grew its stake in Atlantic Union Bankshares by 24.5% during the 2nd quarter. State Street Corp now owns 7,400,456 shares of the company’s stock valued at $231,486,000 after acquiring an additional 1,457,647 shares in the last quarter. North Reef Capital Management LP grew its stake in Atlantic Union Bankshares by 23.1% during the 4th quarter. North Reef Capital Management LP now owns 4,572,090 shares of the company’s stock valued at $161,395,000 after acquiring an additional 858,486 shares in the last quarter. Aristotle Capital Boston LLC acquired a new stake in Atlantic Union Bankshares in the 4th quarter valued at about $22,169,000. Finally, Balyasny Asset Management L.P. raised its holdings in Atlantic Union Bankshares by 1,956.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 606,377 shares of the company’s stock valued at $21,405,000 after acquiring an additional 576,891 shares during the last quarter. Institutional investors and hedge funds own 78.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AUB. Stephens restated an “overweight” rating and set a $46.00 target price on shares of Atlantic Union Bankshares in a report on Thursday, June 11th. Piper Sandler reaffirmed an “overweight” rating and issued a $47.00 price target on shares of Atlantic Union Bankshares in a report on Wednesday, July 22nd. Morgan Stanley lifted their price objective on 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. TD Cowen boosted their price objective on Atlantic Union Bankshares from $46.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Finally, Weiss Ratings assumed coverage on Atlantic Union Bankshares in a report on Monday, July 6th. They issued a “buy (b-)” rating for the company. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $44.12.

Atlantic Union Bankshares Stock Down 1.2%

Shares of NYSE AUB opened at $42.55 on Thursday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.15. The business’s 50 day moving average is $40.35 and its two-hundred day moving average is $38.61. Atlantic Union Bankshares Co. has a 52-week low of $30.39 and a 52-week high of $43.62. The firm has a market cap of $6.09 billion, a price-to-earnings ratio of 12.70 and a beta of 0.79.

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

Atlantic Union Bankshares Dividend Announcement

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

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.