ProShare Advisors LLC Sells 9,958 Shares of Atlantic Union Bankshares Co. (NASDAQ:AUB)

ProShare Advisors LLC lessened its stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 4.0% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 239,250 shares of the company’s stock after selling 9,958 shares during the period. ProShare Advisors LLC’s holdings in Atlantic Union Bankshares were worth $8,448,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Mather Group LLC. acquired a new position in Atlantic Union Bankshares during the 1st quarter worth approximately $27,000. Strs Ohio bought a new position in shares of Atlantic Union Bankshares in the 4th quarter worth $29,000. TFO Wealth Partners LLC grew its position in Atlantic Union Bankshares by 386,100.0% in the 4th quarter. TFO Wealth Partners LLC now owns 3,862 shares of the company’s stock valued at $141,000 after purchasing an additional 3,861 shares during the period. Nisa Investment Advisors LLC increased its stake in Atlantic Union Bankshares by 194.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,120 shares of the company’s stock valued at $151,000 after purchasing an additional 2,720 shares in the last quarter. Finally, Central Pacific Bank Trust Division acquired a new position in Atlantic Union Bankshares during the first quarter worth $179,000. 78.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AUB. Stephens reduced their price objective on shares of Atlantic Union Bankshares from $43.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday, April 24th. Keefe, Bruyette & Woods decreased their price target on Atlantic Union Bankshares from $36.00 to $35.00 and set a “market perform” rating for the company in a report on Wednesday, April 24th. Finally, Piper Sandler dropped their price objective on Atlantic Union Bankshares from $40.00 to $38.00 and set an “overweight” rating on the stock in a research note on Monday, April 29th.

Insider Activity at Atlantic Union Bankshares

In other news, Director Frank Russell Ellett purchased 5,000 shares of the stock in a transaction dated Thursday, June 6th. The shares were purchased at an average cost of $31.71 per share, with a total value of $158,550.00. Following the completion of the acquisition, the director now owns 47,334 shares in the company, valued at approximately $1,500,961.14. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.87% of the stock is currently owned by corporate insiders.

Atlantic Union Bankshares Stock Performance

Shares of Atlantic Union Bankshares stock traded up $1.35 during mid-day trading on Wednesday, hitting $39.78. 759,100 shares of the stock were exchanged, compared to its average volume of 404,543. The company has a 50-day simple moving average of $32.77 and a 200 day simple moving average of $33.56. The company has a market capitalization of $3.57 billion, a P/E ratio of 14.12 and a beta of 0.90. Atlantic Union Bankshares Co. has a 12 month low of $26.91 and a 12 month high of $39.98. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.90 and a current ratio of 0.90.

Atlantic Union Bankshares (NASDAQ:AUB) last released its earnings results on Tuesday, April 23rd. The company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.04). Atlantic Union Bankshares had a net margin of 19.51% and a return on equity of 9.47%. The company had revenue of $288.47 million for the quarter, compared to the consensus estimate of $178.82 million. During the same period in the prior year, the company earned $0.63 earnings per share. Sell-side analysts anticipate that Atlantic Union Bankshares Co. will post 2.92 earnings per share for the current fiscal year.

Atlantic Union Bankshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 24th were given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 3.22%. The ex-dividend date was Thursday, May 23rd. Atlantic Union Bankshares’s dividend payout ratio (DPR) is presently 47.06%.

Atlantic Union Bankshares Profile

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.