Heritage Wealth Management LLC Acquires New Holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Heritage Wealth Management LLC acquired a new stake in Atlantic Union Bankshares Co. (NASDAQ:AUB) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,825 shares of the company’s stock, valued at approximately $249,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Louisiana State Employees Retirement System acquired a new stake in shares of Atlantic Union Bankshares during the 4th quarter worth about $1,370,000. Charles Schwab Investment Management Inc. raised its holdings in Atlantic Union Bankshares by 4.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 596,051 shares of the company’s stock valued at $17,154,000 after buying an additional 26,362 shares during the period. London Co. of Virginia raised its holdings in Atlantic Union Bankshares by 8.7% in the third quarter. London Co. of Virginia now owns 677,922 shares of the company’s stock valued at $19,511,000 after buying an additional 54,498 shares during the period. Northern Trust Corp raised its stake in shares of Atlantic Union Bankshares by 0.3% during the third quarter. Northern Trust Corp now owns 977,763 shares of the company’s stock valued at $28,140,000 after purchasing an additional 3,364 shares during the period. Finally, Envestnet Asset Management Inc. raised its stake in shares of Atlantic Union Bankshares by 62.0% during the third quarter. Envestnet Asset Management Inc. now owns 318,334 shares of the company’s stock valued at $9,162,000 after purchasing an additional 121,806 shares during the period. 78.58% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Donald R. Kimble purchased 7,000 shares of Atlantic Union Bankshares stock in a transaction dated Friday, March 8th. The stock was bought at an average cost of $35.13 per share, for a total transaction of $245,910.00. Following the completion of the transaction, the director now owns 7,582 shares in the company, valued at $266,355.66. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.87% of the stock is owned by company insiders.

Atlantic Union Bankshares Stock Performance

Shares of NASDAQ AUB traded up $0.35 during midday trading on Friday, hitting $33.69. 72,912 shares of the company’s stock were exchanged, compared to its average volume of 408,903. The company’s 50 day moving average price is $33.49 and its 200 day moving average price is $33.25. The firm has a market capitalization of $2.54 billion, a PE ratio of 12.26 and a beta of 0.94. Atlantic Union Bankshares Co. has a 12 month low of $23.32 and a 12 month high of $37.86. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.15.

Atlantic Union Bankshares (NASDAQ:AUB) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.04). Atlantic Union Bankshares had a return on equity of 9.47% and a net margin of 19.51%. The business had revenue of $288.47 million for the quarter, compared to analyst estimates of $178.82 million. During the same period last year, the firm posted $0.63 EPS. As a group, analysts predict that Atlantic Union Bankshares Co. will post 3.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

AUB has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods dropped their price target on shares of Atlantic Union Bankshares from $36.00 to $35.00 and set a “market perform” rating for the company in a research note on Wednesday, April 24th. Raymond James boosted their price target on shares of Atlantic Union Bankshares from $34.00 to $39.00 and gave the stock an “outperform” rating in a research report on Friday, January 5th. Piper Sandler cut their price objective on Atlantic Union Bankshares from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Monday. Finally, Stephens lowered their price target on Atlantic Union Bankshares from $43.00 to $40.00 and set an “overweight” rating for the company in a research note on Wednesday, April 24th.

About Atlantic Union Bankshares

Atlantic Union Bankshares Corporation operates as the bank holding company for Atlantic Union Bank that provides banking and related financial products and services to consumers and businesses in the United States. It operates in two segments, Wholesale Banking and Consumer Banking. The company accepts various deposit products, including checking, savings, time deposit, and money market accounts; certificates of deposit; and other depository services.