North Reef Capital Management LP Sells 287,090 Shares of Atlantic Union Bankshares Co. $AUB

North Reef Capital Management LP lessened its stake in shares of Atlantic Union Bankshares Co. (NYSE:AUB) by 6.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,285,000 shares of the company’s stock after selling 287,090 shares during the quarter. Atlantic Union Bankshares accounts for about 5.3% of North Reef Capital Management LP’s holdings, making the stock its 6th biggest holding. North Reef Capital Management LP’s holdings in Atlantic Union Bankshares were worth $153,146,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in the stock. IFP Advisors Inc raised its stake in shares of Atlantic Union Bankshares by 362.5% in the 4th quarter. IFP Advisors Inc now owns 740 shares of the company’s stock valued at $26,000 after acquiring an additional 580 shares during the period. Commonwealth Retirement Investments LLC purchased a new position in shares of Atlantic Union Bankshares during the 4th quarter worth approximately $39,000. EverSource Wealth Advisors LLC increased its holdings in Atlantic Union Bankshares by 504.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,542 shares of the company’s stock valued at $48,000 after purchasing an additional 1,287 shares during the last quarter. Farther Finance Advisors LLC raised its position in Atlantic Union Bankshares by 138.9% in the fourth quarter. Farther Finance Advisors LLC now owns 2,064 shares of the company’s stock valued at $73,000 after purchasing an additional 1,200 shares during the period. Finally, Johnson Financial Group Inc. acquired a new position in Atlantic Union Bankshares during the third quarter worth $77,000. 78.58% of the stock is currently owned by institutional investors and hedge funds.

Atlantic Union Bankshares Stock Performance

Shares of AUB stock opened at $42.18 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.15. Atlantic Union Bankshares Co. has a 52 week low of $30.39 and a 52 week high of $43.62. The stock has a market capitalization of $6.04 billion, a PE ratio of 12.59 and a beta of 0.79. The firm has a 50 day moving average of $40.02 and a two-hundred day moving average of $38.48.

Atlantic Union Bankshares (NYSE:AUB) last posted its quarterly earnings results on Tuesday, July 21st. The company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.92 by $0.02. Atlantic Union Bankshares had a net margin of 21.97% and a return on equity of 10.55%. The business had revenue of $387.57 million during the quarter, compared to the consensus estimate of $389.06 million. During the same quarter in the previous year, the firm posted $0.95 earnings per share. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. On average, research analysts predict that Atlantic Union Bankshares Co. will post 3.76 EPS for the current fiscal year.

Atlantic Union Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Friday, August 7th will be issued a $0.37 dividend. The ex-dividend date is Friday, August 7th. This represents a $1.48 dividend on an annualized basis and a yield of 3.5%. Atlantic Union Bankshares’s dividend payout ratio (DPR) is 44.18%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Piper Sandler restated an “overweight” rating and set a $47.00 price target on shares of Atlantic Union Bankshares in a research report on Wednesday. Zacks Research downgraded Atlantic Union Bankshares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. Morgan Stanley increased their target price on Atlantic Union Bankshares from $42.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Monday, June 29th. Stephens restated an “overweight” rating and set a $46.00 target price on shares of Atlantic Union Bankshares in a report on Thursday, June 11th. Finally, TD Cowen raised their target price on Atlantic Union Bankshares from $46.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.12.

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.