Insider Selling: Atlantic Union Bankshares (NYSE:AUB) EVP Sells 7,746 Shares of Stock

Atlantic Union Bankshares Co. (NYSE:AUB) EVP Matthew Linderman sold 7,746 shares of the stock in a transaction dated Thursday, October 22nd. The stock was sold at an average price of $40.00, for a total transaction of $309,840.00. Following the completion of the transaction, the executive vice president directly owned 10,455 shares of the company’s stock, valued at $418,200. This trade represents a 42.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Atlantic Union Bankshares Price Performance

AUB traded down $0.19 during midday trading on Monday, reaching $39.70. 1,342,209 shares of the company’s stock were exchanged, compared to its average volume of 1,131,147. The firm has a market capitalization of $5.67 billion, a price-to-earnings ratio of 10.85 and a beta of 0.80. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.17. Atlantic Union Bankshares Co. has a one year low of $30.87 and a one year high of $43.62. The business has a 50-day simple moving average of $39.39 and a two-hundred day simple moving average of $39.62.

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

Analyst Upgrades and Downgrades

Several brokerages recently commented on AUB. Piper Sandler decreased their price target on Atlantic Union Bankshares from $47.00 to $45.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 21st. Morgan Stanley increased their price objective 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 dropped their price objective 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. Finally, Weiss Ratings raised Atlantic Union Bankshares from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $45.80.

Institutional Investors Weigh In On Atlantic Union Bankshares

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE lifted its position in shares of Atlantic Union Bankshares by 53.4% during the first quarter. Bank of America Corp DE now owns 886,978 shares of the company’s stock worth $31,701,000 after purchasing an additional 308,934 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Atlantic Union Bankshares by 40.1% during the first quarter. Principal Financial Group Inc. now owns 951,373 shares of the company’s stock valued at $34,002,000 after purchasing an additional 272,119 shares during the last quarter. Fort Washington Investment Advisors Inc. OH grew its stake in shares of Atlantic Union Bankshares by 36.8% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 829,469 shares of the company’s stock valued at $29,645,000 after purchasing an additional 223,210 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Atlantic Union Bankshares by 20.8% during the second quarter. Wellington Management Group LLP now owns 721,211 shares of the company’s stock valued at $30,514,000 after purchasing an additional 124,135 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC increased its holdings in shares of Atlantic Union Bankshares by 286.2% in the second quarter. Susquehanna Fundamental Investments LLC now owns 149,189 shares of the company’s stock valued at $6,312,000 after purchasing an additional 110,560 shares in the last quarter. Institutional investors and hedge funds own 78.58% of the company’s stock.

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, 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.