First Trust Advisors LP Acquires 50,969 Shares of Atlantic Union Bankshares Co. $AUB

First Trust Advisors LP increased its stake in Atlantic Union Bankshares Co. (NYSE:AUB) by 18.8% during the first quarter, according to its most recent filing with the SEC. The fund owned 322,737 shares of the company’s stock after buying an additional 50,969 shares during the quarter. First Trust Advisors LP’s holdings in Atlantic Union Bankshares were worth $11,535,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its position in shares of Atlantic Union Bankshares by 1.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 7,635,464 shares of the company’s stock valued at $272,883,000 after acquiring an additional 102,821 shares during the period. State Street Corp raised its holdings in shares of Atlantic Union Bankshares by 24.5% in the 2nd quarter. State Street Corp now owns 7,400,456 shares of the company’s stock worth $231,486,000 after purchasing an additional 1,457,647 shares during the period. North Reef Capital Management LP lifted its stake in Atlantic Union Bankshares by 23.1% in the fourth quarter. North Reef Capital Management LP now owns 4,572,090 shares of the company’s stock valued at $161,395,000 after purchasing an additional 858,486 shares during the last quarter. T. Rowe Price Investment Management Inc. purchased a new position in Atlantic Union Bankshares in the fourth quarter valued at approximately $87,022,000. Finally, Goldman Sachs Group Inc. lifted its stake in Atlantic Union Bankshares by 36.0% in the first quarter. Goldman Sachs Group Inc. now owns 2,137,072 shares of the company’s stock valued at $66,548,000 after purchasing an additional 565,564 shares during the last quarter. Institutional investors own 78.58% of the company’s stock.

Atlantic Union Bankshares Trading Up 0.3%

Shares of AUB opened at $42.39 on Friday. Atlantic Union Bankshares Co. has a twelve month low of $30.39 and a twelve month high of $43.62. The stock has a market cap of $6.07 billion, a PE ratio of 12.65 and a beta of 0.79. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.15. The business’s 50-day moving average price is $40.54 and its 200-day moving average price is $38.67.

Atlantic Union Bankshares (NYSE:AUB) last posted its earnings results on Tuesday, July 21st. The company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.02. Atlantic Union Bankshares had a net margin of 21.97% and a return on equity of 10.55%. The business had revenue of $387.57 million for the quarter, compared to analysts’ expectations of $389.06 million. During the same period in the prior year, the company posted $0.95 EPS. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. On average, equities analysts forecast that Atlantic Union Bankshares Co. will post 3.76 EPS for the current fiscal year.

Atlantic Union Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Friday, August 7th will be given 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 is Friday, August 7th. Atlantic Union Bankshares’s dividend payout ratio (DPR) is 44.18%.

Analysts Set New Price Targets

Several brokerages have issued reports on AUB. TD Cowen boosted their target price on Atlantic Union Bankshares from $46.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Weiss Ratings started coverage on Atlantic Union Bankshares in a research note on Monday, July 6th. They issued a “buy (b-)” rating on the stock. Morgan Stanley upped their price objective on shares of Atlantic Union Bankshares from $42.00 to $45.00 and gave the company an “equal weight” rating in a report on Monday, June 29th. Stephens reiterated an “overweight” rating and set a $46.00 target price on shares of Atlantic Union Bankshares in a research report on Thursday, June 11th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $47.00 target price on shares of Atlantic Union Bankshares in a research note on Wednesday, July 22nd. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.12.

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.