Kennedy Capital Management LLC Grows Stake in Atlantic Union Bankshares Co. $AUB

Kennedy Capital Management LLC increased its stake in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 39.5% in the 4th quarter, HoldingsChannel reports. The fund owned 435,054 shares of the company’s stock after acquiring an additional 123,298 shares during the period. Kennedy Capital Management LLC’s holdings in Atlantic Union Bankshares were worth $15,357,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. IFP Advisors Inc grew its position in Atlantic Union Bankshares by 362.5% in the fourth quarter. IFP Advisors Inc now owns 740 shares of the company’s stock worth $26,000 after acquiring an additional 580 shares in the last quarter. Commonwealth Retirement Investments LLC bought a new stake in Atlantic Union Bankshares in the fourth quarter worth about $39,000. Abich Financial Wealth Management LLC bought a new stake in Atlantic Union Bankshares in the third quarter worth about $50,000. EverSource Wealth Advisors LLC lifted its stake in Atlantic Union Bankshares by 504.7% in the second quarter. EverSource Wealth Advisors LLC now owns 1,542 shares of the company’s stock worth $48,000 after purchasing an additional 1,287 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake 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 worth $69,000 after purchasing an additional 939 shares during the last quarter. Hedge funds and other institutional investors own 78.58% of the company’s stock.

Atlantic Union Bankshares Stock Performance

Atlantic Union Bankshares stock opened at $40.22 on Friday. The company has a 50 day moving average price of $37.66 and a 200-day moving average price of $37.22. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.91 and a current ratio of 0.91. Atlantic Union Bankshares Co. has a fifty-two week low of $29.64 and a fifty-two week high of $42.18. The company has a market capitalization of $5.76 billion, a PE ratio of 17.56 and a beta of 0.80.

Atlantic Union Bankshares (NASDAQ:AUB) last posted its quarterly earnings results on Tuesday, April 21st. The company reported $0.89 earnings per share 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 for the quarter, compared to the consensus estimate of $391.24 million. During the same period in the prior year, the firm posted $0.90 EPS. As a group, equities analysts forecast 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 dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Friday, May 22nd. Atlantic Union Bankshares’s payout ratio is currently 62.71%.

Insider Buying and Selling at Atlantic Union Bankshares

In related news, Director Nancy H. Agee purchased 650 shares of the firm’s stock in a transaction dated Monday, April 20th. The stock was purchased at an average price of $39.05 per share, with a total value of $25,382.50. Following the completion of the purchase, the director owned 37,797 shares of the company’s stock, valued at approximately $1,475,972.85. The trade was a 1.75% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.96% of the company’s stock.

Wall Street Analysts Forecast Growth

AUB has been the subject of several analyst reports. Morgan Stanley raised 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 note on Monday, March 2nd. TD Cowen raised their price objective on shares of Atlantic Union Bankshares from $44.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Zacks Research downgraded shares of Atlantic Union Bankshares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 31st. Stephens reissued an “overweight” rating and issued a $46.00 price objective on shares of Atlantic Union Bankshares in a research note on Thursday. Finally, Piper Sandler raised their price objective on shares of Atlantic Union Bankshares from $45.00 to $46.00 and gave the stock an “overweight” rating in a research note on Thursday. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.88.

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.