Atlantic Union Bankshares Co. $AUB Stock: ProShare Advisors LLC Grows Position

ProShare Advisors LLC increased its stake in Atlantic Union Bankshares Co. (NYSE:AUB) by 33.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 252,195 shares of the company’s stock after acquiring an additional 62,825 shares during the period. ProShare Advisors LLC owned about 0.18% of Atlantic Union Bankshares worth $9,571,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Nykredit A S purchased a new stake in Atlantic Union Bankshares during the 2nd quarter valued at about $51,000. EverSource Wealth Advisors LLC grew its position in Atlantic Union Bankshares by 25.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,544 shares of the company’s stock worth $55,000 after acquiring an additional 318 shares during the last quarter. State of Wyoming purchased a new position in Atlantic Union Bankshares in the 3rd quarter worth approximately $62,000. Farther Finance Advisors LLC increased its stake in Atlantic Union Bankshares by 24.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,881 shares of the company’s stock worth $71,000 after purchasing an additional 366 shares during the period. Finally, CoreCap Advisors LLC increased its stake in Atlantic Union Bankshares by 15.9% in the 3rd quarter. CoreCap Advisors LLC now owns 2,660 shares of the company’s stock worth $101,000 after purchasing an additional 365 shares during the period. Institutional investors own 78.58% of the company’s stock.

Wall Street Analysts Forecast Growth

AUB has been the subject of several recent research reports. TD Cowen lowered their price objective on Atlantic Union Bankshares from $44.00 to $43.00 and set a “buy” rating for the company in a research report on Wednesday, October 21st. Morgan Stanley raised their target price on shares of Atlantic Union Bankshares from $49.00 to $50.00 and gave the stock an “equal weight” rating in a report on Monday, September 28th. Weiss Ratings raised shares of Atlantic Union Bankshares from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Finally, Piper Sandler decreased their target price on shares of Atlantic Union Bankshares from $47.00 to $45.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 21st. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $45.80.

Insider Activity at Atlantic Union Bankshares

In other news, EVP Matthew L. Linderman sold 7,746 shares of the business’s stock in a transaction that occurred on Thursday, October 22nd. The stock was sold at an average price of $40.00, for a total transaction of $309,840.00. Following the transaction, the executive vice president directly owned 10,455 shares of the company’s stock, valued at approximately $418,200. The trade was a 42.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ronald L. Tillett sold 4,500 shares of the company’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $40.01, for a total value of $180,045.00. Following the transaction, the director owned 30,364 shares of the company’s stock, valued at approximately $1,214,863.64. This represents a 12.91% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.96% of the company’s stock.

Atlantic Union Bankshares Stock Performance

Shares of NYSE:AUB opened at $39.55 on Wednesday. The company has a market cap of $5.65 billion, a price-to-earnings ratio of 10.81 and a beta of 0.83. The company has a 50-day moving average price of $39.14 and a 200-day moving average price of $39.09. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.17. Atlantic Union Bankshares Co. has a 12 month low of $30.87 and a 12 month high of $43.62.

Atlantic Union Bankshares (NYSE:AUB) last posted its earnings results on Tuesday, October 20th. The company reported $0.96 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.96. The company had revenue of $387.90 million during the quarter, compared to analyst estimates of $392.72 million. Atlantic Union Bankshares had a net margin of 23.97% and a return on equity of 10.79%. Atlantic Union Bankshares’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.84 earnings per share. As a group, equities analysts anticipate that Atlantic Union Bankshares Co. will post 3.77 EPS for the current year.

Atlantic Union Bankshares Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Friday, November 13th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Friday, November 13th. This is a positive change from Atlantic Union Bankshares’s previous quarterly dividend of $0.37. Atlantic Union Bankshares’s dividend payout ratio is currently 40.44%.

Atlantic Union Bankshares Profile

Atlantic Union Bankshares Corporation (NYSE:AUB) is a financial services holding company headquartered in Richmond, Virginia. Its principal subsidiary, Atlantic Union Bank, provides banking and related financial services to individuals, businesses, institutions and government entities.

The company offers consumer and commercial deposit accounts, residential and commercial real estate lending, business loans, personal loans, treasury and cash management services, mortgage banking, investment and wealth management, and other financial solutions.