Verity & Verity LLC Purchases 13,591 Shares of Atlantic Union Bankshares Co. $AUB

Verity & Verity LLC grew its position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 2.7% in the 4th quarter, HoldingsChannel reports. The fund owned 518,011 shares of the company’s stock after buying an additional 13,591 shares during the period. Atlantic Union Bankshares makes up about 1.4% of Verity & Verity LLC’s holdings, making the stock its 29th biggest holding. Verity & Verity LLC’s holdings in Atlantic Union Bankshares were worth $18,286,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Walleye Capital LLC increased its holdings in shares of Atlantic Union Bankshares by 1.5% during the second quarter. Walleye Capital LLC now owns 22,000 shares of the company’s stock valued at $688,000 after acquiring an additional 322 shares in the last quarter. Westside Investment Management Inc. increased its holdings in shares of 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 acquiring an additional 390 shares in the last quarter. UMB Bank n.a. increased its holdings in shares of Atlantic Union Bankshares by 32.5% during the third quarter. UMB Bank n.a. now owns 1,660 shares of the company’s stock valued at $59,000 after acquiring an additional 407 shares in the last quarter. Choreo LLC increased its holdings in shares of Atlantic Union Bankshares by 5.2% during the third quarter. Choreo LLC now owns 8,282 shares of the company’s stock valued at $292,000 after acquiring an additional 408 shares in the last quarter. Finally, Mackenzie Financial Corp increased its holdings in shares of Atlantic Union Bankshares by 5.7% during the third quarter. Mackenzie Financial Corp now owns 9,137 shares of the company’s stock valued at $322,000 after acquiring an additional 492 shares in the last quarter. Institutional investors own 78.58% of the company’s stock.

Insiders Place Their Bets

In other news, Director Nancy H. Agee purchased 650 shares of the company’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 transaction, the director directly owned 37,797 shares of the company’s stock, valued at approximately $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 the SEC website. Corporate insiders own 0.96% of the company’s stock.

Atlantic Union Bankshares Stock Down 0.3%

AUB stock opened at $37.62 on Friday. The stock’s fifty day simple moving average is $37.03 and its two-hundred day simple moving average is $36.81. 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 1-year low of $29.35 and a 1-year high of $42.18. The stock has a market cap of $5.38 billion, a P/E ratio of 16.43 and a beta of 0.80.

Atlantic Union Bankshares (NASDAQ:AUB) last posted its quarterly earnings data 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 return on equity of 8.50% and a net margin of 15.53%.The business had revenue of $371.71 million during the quarter, compared to analysts’ expectations of $391.24 million. During the same period in the prior year, the firm posted $0.90 EPS. Analysts expect that Atlantic Union Bankshares Co. will post 3.26 EPS for the current year.

Atlantic Union Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Friday, May 22nd will be given a $0.37 dividend. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $1.48 annualized dividend and a yield of 3.9%. Atlantic Union Bankshares’s payout ratio is currently 62.71%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. TD Cowen boosted their price objective on Atlantic Union Bankshares from $44.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Zacks Research downgraded Atlantic Union Bankshares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. Piper Sandler decreased their price objective 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. Finally, Morgan Stanley lifted their target price on Atlantic Union Bankshares from $44.00 to $47.00 and gave the company an “equal weight” rating in a research report on Monday, March 2nd. Four 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, the stock has a consensus rating of “Moderate Buy” and an average target price of $43.63.

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.