Versor Investments LP Takes Position in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Versor Investments LP purchased a new position in Atlantic Union Bankshares Co. (NASDAQ:AUB) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 5,400 shares of the company’s stock, valued at approximately $203,000.

A number of other hedge funds have also recently made changes to their positions in AUB. Dimensional Fund Advisors LP raised its holdings in Atlantic Union Bankshares by 13.8% in the second quarter. Dimensional Fund Advisors LP now owns 5,681,290 shares of the company’s stock worth $186,626,000 after purchasing an additional 690,400 shares in the last quarter. Westwood Holdings Group Inc. grew its position in shares of Atlantic Union Bankshares by 19.0% in the 1st quarter. Westwood Holdings Group Inc. now owns 2,627,756 shares of the company’s stock worth $92,786,000 after buying an additional 419,793 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Atlantic Union Bankshares by 45.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,180,199 shares of the company’s stock worth $38,770,000 after acquiring an additional 368,190 shares in the last quarter. Atlantic Union Bankshares Corp lifted its position in Atlantic Union Bankshares by 64.6% during the second quarter. Atlantic Union Bankshares Corp now owns 458,689 shares of the company’s stock valued at $15,066,000 after acquiring an additional 179,951 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in Atlantic Union Bankshares by 8.8% in the second quarter. Victory Capital Management Inc. now owns 1,595,728 shares of the company’s stock valued at $52,420,000 after acquiring an additional 128,447 shares in the last quarter. 78.58% of the stock is currently owned by hedge funds and other institutional investors.

Atlantic Union Bankshares Stock Performance

Shares of AUB stock opened at $42.48 on Friday. The business has a fifty day moving average of $38.36 and a 200 day moving average of $36.29. Atlantic Union Bankshares Co. has a 1 year low of $30.22 and a 1 year high of $43.57. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market capitalization of $3.81 billion, a price-to-earnings ratio of 17.63 and a beta of 0.89.

Atlantic Union Bankshares (NASDAQ:AUB) last announced its quarterly earnings data on Monday, October 21st. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.01. The firm had revenue of $358.81 million during the quarter, compared to analysts’ expectations of $226.70 million. Atlantic Union Bankshares had a return on equity of 8.85% and a net margin of 16.25%. During the same period last year, the business posted $0.80 earnings per share. As a group, research analysts expect that Atlantic Union Bankshares Co. will post 2.93 earnings per share for the current year.

Atlantic Union Bankshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be issued a $0.34 dividend. This is an increase from Atlantic Union Bankshares’s previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a dividend yield of 3.20%. The ex-dividend date is Friday, November 8th. Atlantic Union Bankshares’s dividend payout ratio is 56.43%.

Analysts Set New Price Targets

AUB has been the subject of several analyst reports. Keefe, Bruyette & Woods increased their price objective on Atlantic Union Bankshares from $35.00 to $38.00 and gave the company a “market perform” rating in a report on Monday, July 29th. Raymond James decreased their price target on Atlantic Union Bankshares from $45.00 to $41.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. Finally, Hovde Group dropped their price target on Atlantic Union Bankshares from $46.00 to $45.00 and set an “outperform” rating on the stock in a research note on Friday, September 13th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $40.40.

About Atlantic Union Bankshares

Atlantic Union Bankshares Corporation operates as the bank holding company for Atlantic Union Bank that provides banking and related financial products and services to consumers and businesses in the United States. It operates in two segments, Wholesale Banking and Consumer Banking. The company accepts various deposit products, including checking, savings, time deposit, and money market accounts; certificates of deposit; and other depository services.