Atlantic Union Bankshares Co. $AUB Shares Acquired by Wellington Management Group LLP

Wellington Management Group LLP increased its stake in Atlantic Union Bankshares Co. (NYSE:AUB) by 20.8% in the second quarter, Holdings Channel reports. The institutional investor owned 721,211 shares of the company’s stock after acquiring an additional 124,135 shares during the quarter. Wellington Management Group LLP’s holdings in Atlantic Union Bankshares were worth $30,514,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Legacy Wealth Asset Management LLC bought a new stake in shares of Atlantic Union Bankshares in the 2nd quarter worth about $217,000. Hennion & Walsh Asset Management Inc. lifted its position in shares of Atlantic Union Bankshares by 14.0% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 9,219 shares of the company’s stock worth $390,000 after purchasing an additional 1,132 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Atlantic Union Bankshares by 12.3% during the second quarter. GAMMA Investing LLC now owns 7,477 shares of the company’s stock worth $316,000 after purchasing an additional 820 shares during the last quarter. Versant Capital Management Inc grew its stake in Atlantic Union Bankshares by 37.1% in the second quarter. Versant Capital Management Inc now owns 3,939 shares of the company’s stock worth $167,000 after purchasing an additional 1,066 shares in the last quarter. Finally, Empowered Funds LLC bought a new stake in Atlantic Union Bankshares in the first quarter valued at about $209,000. 78.58% of the stock is owned by institutional investors and hedge funds.

Atlantic Union Bankshares Price Performance

AUB opened at $40.89 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.15. The company’s 50-day moving average price is $41.91 and its 200 day moving average price is $39.05. Atlantic Union Bankshares Co. has a fifty-two week low of $30.87 and a fifty-two week high of $43.62. The firm has a market cap of $5.84 billion, a price-to-earnings ratio of 12.21 and a beta of 0.78.

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

Atlantic Union Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 7th were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Friday, August 7th. Atlantic Union Bankshares’s dividend payout ratio is presently 44.18%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Weiss Ratings upgraded Atlantic Union Bankshares from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Piper Sandler reiterated an “overweight” rating and issued a $47.00 price target on shares of Atlantic Union Bankshares in a report on Wednesday, July 22nd. Stephens reissued an “overweight” rating and set a $46.00 price target on shares of Atlantic Union Bankshares in a research report on Thursday, June 11th. TD Cowen upped their price target on Atlantic Union Bankshares from $46.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Finally, Morgan Stanley raised their price objective 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. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $45.57.

Atlantic Union Bankshares Company 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.