Royce & Associates LP Buys 16,000 Shares of Atlantic Union Bankshares Co. $AUB

Royce & Associates LP lifted its position in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 20.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 94,091 shares of the company’s stock after purchasing an additional 16,000 shares during the quarter. Royce & Associates LP owned about 0.07% of Atlantic Union Bankshares worth $3,320,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Westside Investment Management Inc. boosted its stake in Atlantic Union Bankshares by 100.0% during the third quarter. Westside Investment Management Inc. now owns 780 shares of the company’s stock valued at $27,000 after buying an additional 390 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Atlantic Union Bankshares by 309.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 864 shares of the company’s stock worth $30,000 after acquiring an additional 653 shares in the last quarter. Huntington National Bank boosted its position in shares of Atlantic Union Bankshares by 71.7% during the 2nd quarter. Huntington National Bank now owns 1,298 shares of the company’s stock valued at $41,000 after acquiring an additional 542 shares during the last quarter. Abich Financial Wealth Management LLC purchased a new position in shares of Atlantic Union Bankshares in the third quarter valued at $50,000. Finally, Nomura Asset Management Co. Ltd. increased its position in Atlantic Union Bankshares by 64.8% in the second quarter. Nomura Asset Management Co. Ltd. now owns 1,533 shares of the company’s stock worth $48,000 after purchasing an additional 603 shares during the last quarter. 78.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on AUB shares. TD Cowen reiterated a “buy” rating on shares of Atlantic Union Bankshares in a research report on Thursday, December 11th. Zacks Research raised shares of Atlantic Union Bankshares from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 5th. Raymond James Financial set a $45.00 price objective on Atlantic Union Bankshares in a research note on Thursday, December 11th. Morgan Stanley upped their price objective on Atlantic Union Bankshares from $44.00 to $47.00 and gave the company an “equal weight” rating in a research report on Monday. Finally, Piper Sandler lifted their target price on Atlantic Union Bankshares from $41.50 to $47.50 and gave the stock an “overweight” rating in a report on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.85.

Atlantic Union Bankshares Stock Performance

Shares of NASDAQ:AUB opened at $36.62 on Friday. 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 Co. has a 12 month low of $22.85 and a 12 month high of $42.18. The company has a market capitalization of $5.22 billion, a price-to-earnings ratio of 15.99 and a beta of 0.82. The firm’s 50-day moving average is $38.55 and its 200 day moving average is $36.00.

Atlantic Union Bankshares (NASDAQ:AUB) last announced its earnings results on Thursday, January 22nd. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.11. The business had revenue of $391.33 million during the quarter, compared to analyst estimates 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 predict that Atlantic Union Bankshares Co. will post 3.26 EPS for the current year.

Atlantic Union Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Friday, February 13th. Atlantic Union Bankshares’s dividend payout ratio is 72.55%.

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.