Tributary Capital Management LLC Boosts Stock Holdings in Atlantic Union Bankshares Co. $AUB

Tributary Capital Management LLC increased its holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 91.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,414,240 shares of the company’s stock after buying an additional 675,524 shares during the period. Atlantic Union Bankshares comprises approximately 2.4% of Tributary Capital Management LLC’s holdings, making the stock its 6th biggest position. Tributary Capital Management LLC owned 0.99% of Atlantic Union Bankshares worth $49,909,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. SG Americas Securities LLC lifted its holdings in Atlantic Union Bankshares by 30.3% in the third quarter. SG Americas Securities LLC now owns 22,184 shares of the company’s stock worth $783,000 after acquiring an additional 5,157 shares during the last quarter. HB Wealth Management LLC acquired a new stake in shares of Atlantic Union Bankshares during the 3rd quarter worth approximately $503,000. Park Avenue Securities LLC lifted its holdings in shares of Atlantic Union Bankshares by 10.9% in the 3rd quarter. Park Avenue Securities LLC now owns 13,434 shares of the company’s stock worth $474,000 after purchasing an additional 1,325 shares during the last quarter. KLP Kapitalforvaltning AS boosted its position in Atlantic Union Bankshares by 7.2% during the 3rd quarter. KLP Kapitalforvaltning AS now owns 29,750 shares of the company’s stock valued at $1,050,000 after purchasing an additional 2,000 shares during the period. Finally, Hennion & Walsh Asset Management Inc. grew its stake in Atlantic Union Bankshares by 11.6% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 10,975 shares of the company’s stock worth $387,000 after buying an additional 1,137 shares during the last quarter. Institutional investors and hedge funds own 78.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Morgan Stanley raised their target price on Atlantic Union Bankshares from $41.00 to $44.00 and gave the company an “equal weight” rating in a research note on Thursday, December 11th. Janney Montgomery Scott started coverage on shares of Atlantic Union Bankshares in a research report on Wednesday, October 8th. They set a “buy” rating and a $42.00 price target for the company. National Bankshares set a $46.00 price objective on shares of Atlantic Union Bankshares in a research report on Wednesday, September 24th. Raymond James Financial set a $45.00 target price on shares of Atlantic Union Bankshares in a research report on Thursday, December 11th. Finally, TD Cowen lifted their price target on Atlantic Union Bankshares from $44.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $41.61.

Atlantic Union Bankshares Price Performance

NASDAQ:AUB opened at $36.74 on Thursday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.13. The business’s 50-day moving average price is $34.49 and its 200 day moving average price is $34.15. Atlantic Union Bankshares Co. has a 52-week low of $22.85 and a 52-week high of $39.29. The firm has a market cap of $5.24 billion, a P/E ratio of 16.04 and a beta of 0.83.

Atlantic Union Bankshares (NASDAQ:AUB) last posted its quarterly earnings data on Thursday, October 23rd. The company reported $0.84 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.02). Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.50%. The business had revenue of $319.21 million for the quarter, compared to the consensus estimate of $377.92 million. During the same quarter last year, the business posted $0.83 EPS. The business’s revenue for the quarter was up 69.8% on a year-over-year basis. As a group, sell-side analysts predict that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current fiscal year.

Atlantic Union Bankshares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were given a dividend of $0.37 per share. This is a boost from Atlantic Union Bankshares’s previous quarterly dividend of $0.34. The ex-dividend date was Friday, November 14th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.0%. Atlantic Union Bankshares’s payout ratio is currently 79.14%.

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.