Louisiana State Employees Retirement System Makes New $2.25 Million Investment in Atlantic Union Bankshares Co. $AUB

Louisiana State Employees Retirement System bought a new position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) in the 1st quarter, HoldingsChannel reports. The institutional investor bought 62,900 shares of the company’s stock, valued at approximately $2,248,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Beacon Investment Advisors LLC increased its holdings in Atlantic Union Bankshares by 0.7% in the 4th quarter. Beacon Investment Advisors LLC now owns 34,442 shares of the company’s stock worth $1,216,000 after acquiring an additional 249 shares in the last quarter. Walleye Capital LLC lifted its holdings in Atlantic Union Bankshares by 1.5% during the second quarter. Walleye Capital LLC now owns 22,000 shares of the company’s stock valued at $688,000 after purchasing an additional 322 shares in the last quarter. Maryland State Retirement & Pension System grew its position in shares of Atlantic Union Bankshares by 1.7% in the fourth quarter. Maryland State Retirement & Pension System now owns 20,835 shares of the company’s stock valued at $735,000 after purchasing an additional 347 shares during the period. Choreo LLC increased its stake in Atlantic Union Bankshares by 5.2% during the 3rd quarter. Choreo LLC now owns 8,282 shares of the company’s stock worth $292,000 after buying an additional 408 shares in the last quarter. Finally, CIBC Asset Management Inc raised its holdings in shares of Atlantic Union Bankshares by 3.6% during the fourth quarter. CIBC Asset Management Inc now owns 13,399 shares of the company’s stock valued at $473,000 after acquiring an additional 468 shares during the last quarter. Institutional investors and hedge funds own 78.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on AUB shares. Piper Sandler increased their price objective on Atlantic Union Bankshares from $45.00 to $46.00 and gave the company an “overweight” rating in a research note on Thursday, June 11th. Morgan Stanley upped their target price on shares of Atlantic Union Bankshares from $42.00 to $45.00 and gave the stock an “equal weight” rating in a report on Monday. TD Cowen increased their target price on shares of Atlantic Union Bankshares from $44.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Stephens reissued an “overweight” rating and issued a $46.00 price target on shares of Atlantic Union Bankshares in a research note on Thursday, June 11th. Finally, Zacks Research lowered shares of Atlantic Union Bankshares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $43.62.

Atlantic Union Bankshares Stock Performance

NASDAQ AUB opened at $42.17 on Tuesday. The stock has a fifty day simple moving average of $38.27 and a 200-day simple moving average of $37.70. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.13. The stock has a market cap of $6.04 billion, a PE ratio of 18.42 and a beta of 0.80. Atlantic Union Bankshares Co. has a twelve month low of $30.39 and a twelve month high of $42.28.

Atlantic Union Bankshares (NASDAQ:AUB) last issued its quarterly earnings data on Tuesday, April 21st. The company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.03). Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.50%. The company had revenue of $371.71 million during the quarter, compared to analysts’ expectations of $391.24 million. During the same quarter last year, the firm posted $0.90 earnings per share. Equities analysts anticipate that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current year.

Atlantic Union Bankshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Friday, May 22nd. Atlantic Union Bankshares’s payout ratio is 62.71%.

Insider Activity

In related news, Director Nancy H. Agee acquired 650 shares of the firm’s stock in a transaction dated Monday, April 20th. The shares were purchased at an average cost of $39.05 per share, for a total transaction of $25,382.50. Following the acquisition, the director owned 37,797 shares in the company, valued at $1,475,972.85. The trade was a 1.75% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.96% of the company’s stock.

Atlantic Union Bankshares Company Profile

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.