Vaughan Nelson Investment Management L.P. Acquires 3,150 Shares of Atlantic Union Bankshares Co. $AUB

Vaughan Nelson Investment Management L.P. raised its holdings in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 27.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,610 shares of the company’s stock after acquiring an additional 3,150 shares during the period. Vaughan Nelson Investment Management L.P.’s holdings in Atlantic Union Bankshares were worth $457,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Truist Financial Corp grew its holdings in shares of Atlantic Union Bankshares by 39.7% in the second quarter. Truist Financial Corp now owns 163,157 shares of the company’s stock worth $5,104,000 after purchasing an additional 46,353 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Atlantic Union Bankshares by 55.1% in the second quarter. Janney Montgomery Scott LLC now owns 60,541 shares of the company’s stock worth $1,894,000 after purchasing an additional 21,513 shares during the last quarter. Tritonpoint Wealth LLC bought a new position in shares of Atlantic Union Bankshares in the second quarter worth approximately $538,000. Fort Washington Investment Advisors Inc. OH grew its holdings in shares of Atlantic Union Bankshares by 10.8% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 439,360 shares of the company’s stock worth $13,743,000 after purchasing an additional 42,868 shares during the last quarter. Finally, Signaturefd LLC grew its holdings in shares of Atlantic Union Bankshares by 731.9% in the second quarter. Signaturefd LLC now owns 3,577 shares of the company’s stock worth $112,000 after purchasing an additional 3,147 shares during the last quarter. 78.58% of the stock is currently owned by institutional investors.

Atlantic Union Bankshares Stock Performance

NASDAQ:AUB opened at $35.71 on Friday. The stock has a market cap of $5.09 billion, a P/E ratio of 15.59 and a beta of 0.87. The firm’s fifty day simple moving average is $34.44 and its 200 day simple moving average is $31.46. Atlantic Union Bankshares Co. has a twelve month low of $22.85 and a twelve month high of $44.54. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.13.

Atlantic Union Bankshares (NASDAQ:AUB) last released its quarterly earnings results on Thursday, July 24th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.15. The business had revenue of $377.22 million for the quarter, compared to analysts’ expectations of $369.70 million. Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.50%. The firm’s revenue for the quarter was up 92.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.63 earnings per share. As a group, research analysts predict that Atlantic Union Bankshares Co. will post 3.26 EPS for the current year.

Atlantic Union Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 4th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Monday, August 4th. This represents a $1.36 annualized dividend and a yield of 3.8%. Atlantic Union Bankshares’s dividend payout ratio (DPR) is currently 66.02%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AUB. Cowen began coverage on shares of Atlantic Union Bankshares in a report on Wednesday, September 24th. They issued a “buy” rating on the stock. Piper Sandler cut their target price on shares of Atlantic Union Bankshares from $46.00 to $45.00 and set an “overweight” rating on the stock in a report on Friday, July 25th. Raymond James Financial restated a “strong-buy” rating and issued a $43.00 target price (up previously from $42.00) on shares of Atlantic Union Bankshares in a report on Friday. Keefe, Bruyette & Woods lifted their price target on shares of Atlantic Union Bankshares from $33.00 to $34.00 and gave the company a “market perform” rating in a report on Monday, August 4th. Finally, TD Cowen assumed coverage on shares of Atlantic Union Bankshares in a report on Thursday, September 25th. They issued a “buy” rating and a $46.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Atlantic Union Bankshares currently has an average rating of “Moderate Buy” and an average price target of $41.50.

Insider Buying and Selling at Atlantic Union Bankshares

In other news, CEO John C. Asbury acquired 7,500 shares of the stock in a transaction on Monday, July 28th. The stock was acquired at an average price of $32.91 per share, with a total value of $246,825.00. Following the completion of the transaction, the chief executive officer owned 270,532 shares of the company’s stock, valued at $8,903,208.12. This represents a 2.85% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Frank Russell Ellett acquired 5,000 shares of the stock in a transaction on Thursday, August 7th. The shares were purchased at an average cost of $31.54 per share, with a total value of $157,700.00. Following the transaction, the director directly owned 76,606 shares of the company’s stock, valued at approximately $2,416,153.24. This trade represents a 6.98% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 18,941 shares of company stock valued at $606,502 in the last three months. Insiders own 0.87% of the company’s stock.

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.