US Bancorp DE Acquires 8,067 Shares of Atlantic Union Bankshares Co. $AUB

US Bancorp DE grew its position in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 58.0% in the second quarter, Holdings Channel.com reports. The fund owned 21,981 shares of the company’s stock after buying an additional 8,067 shares during the period. US Bancorp DE’s holdings in Atlantic Union Bankshares were worth $688,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of AUB. SG Americas Securities LLC bought a new stake in shares of Atlantic Union Bankshares in the 1st quarter worth approximately $310,000. Wealth Enhancement Advisory Services LLC lifted its position in shares of Atlantic Union Bankshares by 3.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 19,130 shares of the company’s stock worth $596,000 after acquiring an additional 614 shares during the period. Oppenheimer Asset Management Inc. lifted its position in shares of Atlantic Union Bankshares by 1.9% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 30,755 shares of the company’s stock worth $958,000 after acquiring an additional 575 shares during the period. Asset Management One Co. Ltd. bought a new stake in shares of Atlantic Union Bankshares in the 1st quarter worth approximately $196,000. Finally, Illinois Municipal Retirement Fund lifted its position in shares of Atlantic Union Bankshares by 3.7% in the 1st quarter. Illinois Municipal Retirement Fund now owns 50,285 shares of the company’s stock worth $1,566,000 after acquiring an additional 1,774 shares during the period. Institutional investors own 78.58% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on AUB. National Bankshares set a $46.00 price objective on Atlantic Union Bankshares in a research report on Wednesday, September 24th. Cowen initiated coverage on Atlantic Union Bankshares in a research report on Wednesday, September 24th. They issued a “buy” rating for the company. Piper Sandler dropped their target price on Atlantic Union Bankshares from $46.00 to $45.00 and set an “overweight” rating for the company in a report on Friday, July 25th. Morgan Stanley increased their target price on Atlantic Union Bankshares from $35.00 to $41.00 and gave the stock an “underperform” rating in a report on Monday, September 29th. Finally, Janney Montgomery Scott initiated coverage on Atlantic Union Bankshares in a report on Wednesday, October 8th. They issued a “buy” rating and a $42.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $41.56.

Insider Buying and Selling at Atlantic Union Bankshares

In other news, Director Frank Russell Ellett bought 1,441 shares of the stock in a transaction dated Friday, August 8th. The stock was bought at an average cost of $31.49 per share, with a total value of $45,377.09. Following the purchase, the director owned 78,047 shares of the company’s stock, valued at approximately $2,457,700.03. This represents a 1.88% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO John C. Asbury bought 7,500 shares of the stock in a transaction dated Monday, July 28th. The stock was purchased at an average cost of $32.91 per share, with a total value of $246,825.00. Following the completion of the purchase, the chief executive officer directly owned 270,532 shares in the company, valued at approximately $8,903,208.12. This trade represents a 2.85% increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 18,941 shares of company stock valued at $606,502 over the last three months. Insiders own 0.87% of the company’s stock.

Atlantic Union Bankshares Trading Up 3.1%

AUB stock opened at $33.95 on Monday. The business has a fifty day moving average price of $35.06 and a 200 day moving average price of $31.73. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.91 and a quick ratio of 0.91. Atlantic Union Bankshares Co. has a fifty-two week low of $22.85 and a fifty-two week high of $44.54. The stock has a market capitalization of $4.84 billion, a price-to-earnings ratio of 14.82 and a beta of 0.87.

Atlantic Union Bankshares (NASDAQ:AUB) last announced its earnings results on Thursday, July 24th. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.80 by $0.15. The company had revenue of $377.22 million for the quarter, compared to analysts’ expectations of $369.70 million. Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%.The business’s revenue for the quarter was up 92.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.63 earnings per share. Analysts expect that Atlantic Union Bankshares Co. will post 3.26 EPS for the current fiscal year.

Atlantic Union Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 4th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Monday, August 4th. Atlantic Union Bankshares’s dividend payout ratio is presently 66.02%.

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.