Ceredex Value Advisors LLC Sells 2,300 Shares of Atlantic Union Bankshares Co. (NASDAQ:AUB)

Ceredex Value Advisors LLC trimmed its stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 0.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 365,467 shares of the company’s stock after selling 2,300 shares during the quarter. Ceredex Value Advisors LLC owned approximately 0.41% of Atlantic Union Bankshares worth $12,006,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vista Investment Management raised its holdings in Atlantic Union Bankshares by 4.6% in the 4th quarter. Vista Investment Management now owns 9,030 shares of the company’s stock valued at $330,000 after buying an additional 395 shares during the last quarter. Park Avenue Securities LLC lifted its holdings in shares of Atlantic Union Bankshares by 4.6% during the first quarter. Park Avenue Securities LLC now owns 10,178 shares of the company’s stock worth $359,000 after purchasing an additional 444 shares during the period. Brown Advisory Inc. grew its stake in shares of Atlantic Union Bankshares by 3.3% in the fourth quarter. Brown Advisory Inc. now owns 16,464 shares of the company’s stock worth $602,000 after purchasing an additional 520 shares during the last quarter. Canal Capital Management LLC increased its holdings in Atlantic Union Bankshares by 0.8% in the first quarter. Canal Capital Management LLC now owns 66,490 shares of the company’s stock valued at $2,348,000 after purchasing an additional 536 shares during the period. Finally, Mather Group LLC. bought a new position in Atlantic Union Bankshares during the 1st quarter worth $27,000. Institutional investors own 78.58% of the company’s stock.

Atlantic Union Bankshares Stock Performance

AUB traded up $2.07 during midday trading on Friday, reaching $39.56. The company had a trading volume of 493,467 shares, compared to its average volume of 424,075. Atlantic Union Bankshares Co. has a 12-month low of $26.91 and a 12-month high of $42.50. The business has a 50-day moving average price of $36.07 and a two-hundred day moving average price of $34.22. The stock has a market cap of $3.55 billion, a PE ratio of 14.54 and a beta of 0.90. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.90 and a current ratio of 0.90.

Atlantic Union Bankshares (NASDAQ:AUB) last issued its earnings results on Thursday, July 25th. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.05). Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.95%. The business had revenue of $212.20 million for the quarter, compared to the consensus estimate of $216.03 million. During the same period in the previous year, the firm earned $0.74 EPS. The company’s revenue was up 17.9% compared to the same quarter last year. On average, sell-side analysts expect that Atlantic Union Bankshares Co. will post 3.04 earnings per share for the current fiscal year.

Atlantic Union Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.28 annualized dividend and a yield of 3.24%. Atlantic Union Bankshares’s dividend payout ratio is currently 47.06%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Hovde Group upped their price target on Atlantic Union Bankshares from $40.00 to $46.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods increased their target price on shares of Atlantic Union Bankshares from $35.00 to $38.00 and gave the company a “market perform” rating in a research report on Monday, July 29th. Finally, Piper Sandler dropped their price target on shares of Atlantic Union Bankshares from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.20.

Insider Activity

In related news, Director Frank Russell Ellett bought 4,467 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were acquired at an average cost of $30.85 per share, with a total value of $137,806.95. Following the completion of the purchase, the director now directly owns 56,801 shares of the company’s stock, valued at approximately $1,752,310.85. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.87% of the company’s stock.

Atlantic Union Bankshares Company 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.