Lazard Asset Management LLC Sells 29,794 Shares of Atlantic Union Bankshares Co. $AUB

Lazard Asset Management LLC trimmed its holdings in Atlantic Union Bankshares Co. (NYSE:AUB) by 21.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 106,922 shares of the company’s stock after selling 29,794 shares during the period. Lazard Asset Management LLC’s holdings in Atlantic Union Bankshares were worth $3,821,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in AUB. Beacon Investment Advisors LLC increased its holdings in shares of Atlantic Union Bankshares by 0.7% during the 4th quarter. Beacon Investment Advisors LLC now owns 34,442 shares of the company’s stock worth $1,216,000 after acquiring an additional 249 shares during the last quarter. Walleye Capital LLC raised its stake in Atlantic Union Bankshares by 1.5% in the 2nd quarter. Walleye Capital LLC now owns 22,000 shares of the company’s stock valued at $688,000 after acquiring an additional 322 shares during the period. Maryland State Retirement & Pension System lifted its holdings in Atlantic Union Bankshares by 1.7% during the 4th quarter. Maryland State Retirement & Pension System now owns 20,835 shares of the company’s stock valued at $735,000 after purchasing an additional 347 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in Atlantic Union Bankshares by 3.6% during the 4th quarter. CIBC Asset Management Inc now owns 13,399 shares of the company’s stock valued at $473,000 after purchasing an additional 468 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its position in Atlantic Union Bankshares by 5.7% during the third quarter. Mackenzie Financial Corp now owns 9,137 shares of the company’s stock worth $322,000 after purchasing an additional 492 shares during the period. 78.58% of the stock is currently owned by institutional investors.

Atlantic Union Bankshares Stock Performance

NYSE:AUB opened at $42.39 on Friday. The stock has a market cap of $6.07 billion, a P/E ratio of 12.65 and a beta of 0.79. The stock has a 50 day simple moving average of $40.54 and a 200 day simple moving average of $38.67. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.15. Atlantic Union Bankshares Co. has a 1-year low of $30.39 and a 1-year high of $43.62.

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

Atlantic Union Bankshares Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have commented on AUB. Morgan Stanley upped their price objective on shares of Atlantic Union Bankshares from $42.00 to $45.00 and gave the company an “equal weight” rating in a report on Monday, June 29th. TD Cowen raised their target price on shares of Atlantic Union Bankshares from $46.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Weiss Ratings initiated coverage on shares of Atlantic Union Bankshares in a report on Monday, July 6th. They set a “buy (b-)” rating for the company. Piper Sandler reiterated an “overweight” rating and issued a $47.00 price target on shares of Atlantic Union Bankshares in a research note on Wednesday, July 22nd. Finally, Stephens reiterated 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 issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target 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.