Jennison Associates LLC Cuts Stock Holdings in Atlantic Union Bankshares Co. $AUB

Jennison Associates LLC decreased its holdings in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 62.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 238,208 shares of the company’s stock after selling 394,371 shares during the quarter. Jennison Associates LLC’s holdings in Atlantic Union Bankshares were worth $8,409,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of AUB. State Street Corp lifted its position in Atlantic Union Bankshares by 24.5% in the second quarter. State Street Corp now owns 7,400,456 shares of the company’s stock valued at $231,486,000 after purchasing an additional 1,457,647 shares during the last quarter. North Reef Capital Management LP lifted its position in Atlantic Union Bankshares by 35.0% in the third quarter. North Reef Capital Management LP now owns 3,713,604 shares of the company’s stock valued at $131,053,000 after purchasing an additional 963,604 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Atlantic Union Bankshares by 7.8% during the third quarter. American Century Companies Inc. now owns 2,393,318 shares of the company’s stock valued at $84,460,000 after acquiring an additional 174,122 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Atlantic Union Bankshares by 36.0% during the first quarter. Goldman Sachs Group Inc. now owns 2,137,072 shares of the company’s stock valued at $66,548,000 after acquiring an additional 565,564 shares in the last quarter. Finally, Congress Asset Management Co. raised its holdings in shares of Atlantic Union Bankshares by 4.7% during the fourth quarter. Congress Asset Management Co. now owns 1,964,949 shares of the company’s stock valued at $69,363,000 after acquiring an additional 87,761 shares in the last quarter. Hedge funds and other institutional investors own 78.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on AUB shares. Piper Sandler decreased their target price on Atlantic Union Bankshares from $47.50 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, April 22nd. Stephens increased their price objective on Atlantic Union Bankshares from $43.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, January 26th. Zacks Research downgraded Atlantic Union Bankshares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. Finally, Morgan Stanley increased their price objective on Atlantic Union Bankshares from $44.00 to $47.00 and gave the stock an “equal weight” rating in a report on Monday, March 2nd. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Atlantic Union Bankshares has a consensus rating of “Moderate Buy” and a consensus price target of $42.89.

Insider Activity at Atlantic Union Bankshares

In related news, Director Nancy H. Agee acquired 650 shares of the firm’s stock in a transaction dated Monday, April 20th. The shares were 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 directly owned 37,797 shares of the company’s stock, valued at $1,475,972.85. This represents a 1.75% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.96% of the stock is owned by company insiders.

Atlantic Union Bankshares Stock Up 0.8%

AUB stock opened at $37.96 on Friday. Atlantic Union Bankshares Co. has a fifty-two week low of $28.11 and a fifty-two week high of $42.18. The business’s 50-day moving average is $36.71 and its two-hundred day moving average is $36.28. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market cap of $5.43 billion, a price-to-earnings ratio of 16.58 and a beta of 0.80.

Atlantic Union Bankshares (NASDAQ:AUB) last posted its earnings results on Tuesday, April 21st. The company reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $371.71 million during the quarter, compared to the consensus estimate of $391.24 million. During the same period in the prior year, the company posted $0.90 EPS. As a group, analysts forecast that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current year.

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.