MAI Capital Management Purchases 30,844 Shares of Atlantic Union Bankshares Co. $AUB

MAI Capital Management increased its position in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 521.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,758 shares of the company’s stock after purchasing an additional 30,844 shares during the period. MAI Capital Management’s holdings in Atlantic Union Bankshares were worth $1,297,000 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. Cary Street Partners Financial LLC grew its position in shares of Atlantic Union Bankshares by 8.0% in the 3rd quarter. Cary Street Partners Financial LLC now owns 59,992 shares of the company’s stock worth $2,117,000 after buying an additional 4,436 shares during the period. Parkside Investments LLC purchased a new position in Atlantic Union Bankshares during the 3rd quarter valued at about $220,000. Dana Investment Advisors Inc. boosted its stake in Atlantic Union Bankshares by 5.8% during the third quarter. Dana Investment Advisors Inc. now owns 56,045 shares of the company’s stock worth $1,978,000 after acquiring an additional 3,083 shares in the last quarter. OneDigital Investment Advisors LLC grew its holdings in Atlantic Union Bankshares by 7.7% in the third quarter. OneDigital Investment Advisors LLC now owns 10,894 shares of the company’s stock worth $384,000 after purchasing an additional 778 shares during the period. Finally, Partners in Financial Planning bought a new position in shares of Atlantic Union Bankshares during the third quarter valued at approximately $220,000. Hedge funds and other institutional investors own 78.58% of the company’s stock.

Analyst Ratings Changes

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

Atlantic Union Bankshares Price Performance

AUB opened at $36.97 on Friday. The company’s 50-day simple moving average is $38.48 and its two-hundred day simple moving average is $35.92. 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 has a market capitalization of $5.27 billion, a P/E ratio of 16.14 and a beta of 0.83. Atlantic Union Bankshares Co. has a 52-week low of $22.85 and a 52-week high of $42.18.

Atlantic Union Bankshares (NASDAQ:AUB) last released its quarterly earnings data on Thursday, January 22nd. The company reported $0.97 earnings per share for the quarter, beating 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 firm had revenue of $391.33 million during the quarter, compared to analysts’ expectations of $378.95 million. During the same period in the previous year, the company earned $0.67 earnings per share. As a group, analysts predict that Atlantic Union Bankshares Co. will post 3.26 EPS for the current year.

Atlantic Union Bankshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Friday, February 13th. Atlantic Union Bankshares’s dividend payout ratio (DPR) is 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.