Atlantic Union Bankshares Co. $AUB is North Reef Capital Management LP’s 7th Largest Position

North Reef Capital Management LP grew its stake in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 35.0% during the third quarter, Holdings Channel reports. The firm owned 3,713,604 shares of the company’s stock after purchasing an additional 963,604 shares during the period. Atlantic Union Bankshares makes up approximately 6.1% of North Reef Capital Management LP’s portfolio, making the stock its 7th largest position. North Reef Capital Management LP’s holdings in Atlantic Union Bankshares were worth $131,053,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of AUB. StoneX Group Inc. purchased a new position in Atlantic Union Bankshares during the 2nd quarter worth $1,447,000. Verity & Verity LLC raised its holdings in shares of Atlantic Union Bankshares by 29.6% in the third quarter. Verity & Verity LLC now owns 504,420 shares of the company’s stock valued at $17,801,000 after purchasing an additional 115,245 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Atlantic Union Bankshares by 10.9% in the third quarter. Envestnet Asset Management Inc. now owns 659,791 shares of the company’s stock valued at $23,284,000 after purchasing an additional 64,806 shares during the last quarter. Elizabeth Park Capital Advisors Ltd. bought a new position in shares of Atlantic Union Bankshares during the second quarter valued at about $2,378,000. Finally, Creative Planning boosted its holdings in Atlantic Union Bankshares by 738.9% during the second quarter. Creative Planning now owns 95,445 shares of the company’s stock worth $2,986,000 after purchasing an additional 84,068 shares during the last quarter. Hedge funds and other institutional investors own 78.58% of the company’s stock.

Atlantic Union Bankshares Stock Performance

Shares of AUB opened at $34.19 on Tuesday. The company has a market cap of $4.87 billion, a price-to-earnings ratio of 14.93 and a beta of 0.82. The business’s fifty day simple moving average is $38.42 and its two-hundred day simple moving average is $36.03. Atlantic Union Bankshares Co. has a 12 month low of $22.85 and a 12 month high of $42.18. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.13.

Atlantic Union Bankshares (NASDAQ:AUB) last posted its quarterly earnings results on Thursday, January 22nd. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.11. The firm had revenue of $391.33 million during the quarter, compared to analysts’ expectations of $378.95 million. Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%.During the same quarter in the previous year, the business earned $0.67 earnings per share. Research analysts anticipate that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current fiscal year.

Atlantic Union Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were given a $0.37 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $1.48 dividend on an annualized basis and a yield of 4.3%. Atlantic Union Bankshares’s payout ratio is 72.55%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AUB. Morgan Stanley upped their price objective on shares of Atlantic Union Bankshares from $44.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Monday, March 2nd. Stephens boosted their target price on Atlantic Union Bankshares from $43.00 to $45.00 and gave the stock an “overweight” rating in a research note on Monday, January 26th. Zacks Research raised Atlantic Union Bankshares from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 5th. Piper Sandler increased their price target on Atlantic Union Bankshares from $41.50 to $47.50 and gave the company an “overweight” rating in a research report on Thursday, February 5th. Finally, TD Cowen reiterated a “buy” rating on shares of Atlantic Union Bankshares in a report on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.17.

Atlantic Union Bankshares 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.