Atlantic Union Bankshares Co. $AUB Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC trimmed its stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 10.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 200,797 shares of the company’s stock after selling 23,133 shares during the quarter. ProShare Advisors LLC’s holdings in Atlantic Union Bankshares were worth $7,086,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Oppenheimer Asset Management Inc. raised its stake in shares of Atlantic Union Bankshares by 2.9% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 76,266 shares of the company’s stock valued at $2,691,000 after purchasing an additional 2,172 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in Atlantic Union Bankshares by 93.5% in the third quarter. Smartleaf Asset Management LLC now owns 1,943 shares of the company’s stock valued at $69,000 after buying an additional 939 shares during the last quarter. Portside Wealth Group LLC acquired a new stake in Atlantic Union Bankshares during the third quarter valued at approximately $377,000. HighPoint Advisor Group LLC lifted its holdings in Atlantic Union Bankshares by 7.1% during the 3rd quarter. HighPoint Advisor Group LLC now owns 7,871 shares of the company’s stock worth $278,000 after buying an additional 523 shares during the last quarter. Finally, SBI Securities Co. Ltd. lifted its holdings in Atlantic Union Bankshares by 1,040,800.0% during the 3rd quarter. SBI Securities Co. Ltd. now owns 20,818 shares of the company’s stock worth $735,000 after buying an additional 20,816 shares during the last quarter. Institutional investors own 78.58% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AUB. Piper Sandler boosted their price target on Atlantic Union Bankshares from $41.50 to $47.50 and gave the company an “overweight” rating in a report on Thursday, February 5th. Raymond James Financial set a $45.00 target price on shares of Atlantic Union Bankshares in a research note on Thursday, December 11th. TD Cowen reissued a “buy” rating on shares of Atlantic Union Bankshares in a report on Thursday, December 11th. Stephens lifted their price target on shares of Atlantic Union Bankshares from $43.00 to $45.00 and gave the company an “overweight” rating in a report on Monday, January 26th. Finally, Zacks Research raised shares of Atlantic Union Bankshares from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.55.

Atlantic Union Bankshares Stock Performance

AUB stock opened at $40.98 on Thursday. Atlantic Union Bankshares Co. has a 1 year low of $22.85 and a 1 year high of $42.18. The stock has a market capitalization of $5.84 billion, a price-to-earnings ratio of 17.89 and a beta of 0.83. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.91 and a current ratio of 0.91. The stock’s fifty day moving average is $37.62 and its two-hundred day moving average is $35.29.

Atlantic Union Bankshares (NASDAQ:AUB) last released its quarterly earnings results on Thursday, January 22nd. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.86 by $0.11. Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.50%. The business had revenue of $391.33 million during the quarter, compared to analyst estimates of $378.95 million. During the same quarter in the prior year, the firm earned $0.67 earnings per share. On average, 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 declared a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be paid a $0.37 dividend. The ex-dividend date is Friday, February 13th. This represents a $1.48 annualized dividend and a dividend yield of 3.6%. Atlantic Union Bankshares’s dividend payout ratio (DPR) is presently 72.55%.

About Atlantic Union Bankshares

Atlantic Union Bankshares, Inc is a bank holding company headquartered in Richmond, Virginia, operating through its principal subsidiary Atlantic Union Bank. The company offers a full suite of commercial and consumer banking services to individuals, businesses and institutions across Virginia, Maryland, North Carolina and the District of Columbia. Leveraging a network of full-service branches, commercial lending offices and digital platforms, Atlantic Union Bankshares focuses on relationship-driven solutions tailored to its regional client base.

Atlantic Union’s product lineup includes traditional deposit accounts, such as checking, savings and money market accounts, along with certificates of deposit.