Public Sector Pension Investment Board Lowers Stock Holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Public Sector Pension Investment Board reduced its position in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 3.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 190,449 shares of the company’s stock after selling 7,100 shares during the quarter. Public Sector Pension Investment Board owned about 0.21% of Atlantic Union Bankshares worth $7,174,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in Atlantic Union Bankshares by 13.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,681,290 shares of the company’s stock worth $186,626,000 after acquiring an additional 690,400 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Atlantic Union Bankshares by 45.3% in the second quarter. Bank of New York Mellon Corp now owns 1,180,199 shares of the company’s stock worth $38,770,000 after purchasing an additional 368,190 shares during the last quarter. Atlantic Union Bankshares Corp raised its stake in Atlantic Union Bankshares by 64.6% in the second quarter. Atlantic Union Bankshares Corp now owns 458,689 shares of the company’s stock valued at $15,066,000 after purchasing an additional 179,951 shares in the last quarter. Victory Capital Management Inc. raised 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 purchasing an additional 128,447 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in Atlantic Union Bankshares during the second quarter valued at approximately $4,096,000. Hedge funds and other institutional investors own 78.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AUB. Hovde Group decreased their price target on shares of Atlantic Union Bankshares from $46.00 to $45.00 and set an “outperform” rating on the stock in a report on Friday, September 13th. Raymond James reduced their target price on Atlantic Union Bankshares from $45.00 to $41.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 2nd. Finally, Keefe, Bruyette & Woods upped their price objective on Atlantic Union Bankshares from $42.00 to $46.00 and gave the stock a “market perform” rating in a report on Friday, November 22nd. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $42.00.

Atlantic Union Bankshares Price Performance

AUB stock opened at $42.43 on Friday. Atlantic Union Bankshares Co. has a 12-month low of $30.22 and a 12-month high of $44.54. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $3.81 billion, a price-to-earnings ratio of 17.61 and a beta of 0.89. The firm’s 50-day moving average price is $39.23 and its two-hundred day moving average price is $36.88.

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

Atlantic Union Bankshares Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 3.21%. The ex-dividend date was Friday, November 8th. This is an increase from Atlantic Union Bankshares’s previous quarterly dividend of $0.32. Atlantic Union Bankshares’s payout ratio is 56.43%.

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.