Legal & General Group Plc Sells 24,067 Shares of Atlantic Union Bankshares Co. $AUB

Legal & General Group Plc lessened its stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 6.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 356,267 shares of the company’s stock after selling 24,067 shares during the quarter. Legal & General Group Plc owned about 0.25% of Atlantic Union Bankshares worth $12,576,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in AUB. SG Americas Securities LLC lifted its holdings in Atlantic Union Bankshares by 6,808.0% in the 4th quarter. SG Americas Securities LLC now owns 1,532,473 shares of the company’s stock worth $54,096,000 after purchasing an additional 1,510,289 shares during the last quarter. State Street Corp grew its holdings in Atlantic Union Bankshares by 24.5% during 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. Thrivent Financial for Lutherans grew its holdings in Atlantic Union Bankshares by 1,128.0% during the third quarter. Thrivent Financial for Lutherans now owns 1,398,654 shares of the company’s stock valued at $49,358,000 after purchasing an additional 1,284,759 shares during the last quarter. North Reef Capital Management LP raised its position in shares of 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 period. Finally, Goldman Sachs Group Inc. raised its position in shares of 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 period. Institutional investors and hedge funds own 78.58% of the company’s stock.

Insider Activity

In other Atlantic Union Bankshares news, Director Nancy H. Agee acquired 650 shares of Atlantic Union Bankshares stock in a transaction dated Monday, April 20th. The stock was bought at an average cost of $39.05 per share, with a total value of $25,382.50. Following the acquisition, the director owned 37,797 shares of the company’s stock, valued at approximately $1,475,972.85. The trade was a 1.75% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.96% of the company’s stock.

Atlantic Union Bankshares Price Performance

Shares of AUB stock opened at $37.62 on Wednesday. Atlantic Union Bankshares Co. has a 12 month low of $29.44 and a 12 month high of $42.18. The company has a market capitalization of $5.38 billion, a P/E ratio of 16.43 and a beta of 0.80. The stock has a 50 day moving average of $37.08 and a two-hundred day moving average of $36.87. 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 (NASDAQ:AUB) last released its quarterly earnings data on Tuesday, April 21st. The company reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.03). The firm had revenue of $371.71 million for the quarter, compared to the consensus estimate of $391.24 million. Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.50%. During the same quarter in the prior year, the firm posted $0.90 earnings per share. As a group, equities 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 declared a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Friday, May 22nd will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Friday, May 22nd. Atlantic Union Bankshares’s payout ratio is 62.71%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Piper Sandler decreased their price objective on shares of Atlantic Union Bankshares from $47.50 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, April 22nd. TD Cowen boosted their target price on shares of Atlantic Union Bankshares from $44.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Zacks Research cut shares of Atlantic Union Bankshares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. Finally, Morgan Stanley raised their price target 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 research analysts have rated the stock with a Buy rating and four 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 $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.