Inspire Advisors LLC Makes New Investment in Atlantic Union Bankshares Co. $AUB

Inspire Advisors LLC bought a new stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) in the 2nd quarter, Holdings Channel reports. The firm bought 97,968 shares of the company’s stock, valued at approximately $3,064,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cerity Partners LLC raised its stake in Atlantic Union Bankshares by 24.9% during the first quarter. Cerity Partners LLC now owns 63,097 shares of the company’s stock valued at $1,965,000 after buying an additional 12,564 shares during the last quarter. Mutual of America Capital Management LLC grew its stake in shares of Atlantic Union Bankshares by 39.4% in the first quarter. Mutual of America Capital Management LLC now owns 18,956 shares of the company’s stock worth $590,000 after acquiring an additional 5,356 shares during the last quarter. CWM LLC increased its holdings in shares of Atlantic Union Bankshares by 99.4% during the first quarter. CWM LLC now owns 1,049 shares of the company’s stock valued at $33,000 after acquiring an additional 523 shares in the last quarter. HighPoint Advisor Group LLC increased its holdings in shares of Atlantic Union Bankshares by 14.8% during the first quarter. HighPoint Advisor Group LLC now owns 7,225 shares of the company’s stock valued at $225,000 after acquiring an additional 933 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Atlantic Union Bankshares in the 1st quarter worth about $1,208,000. Hedge funds and other institutional investors own 78.58% of the company’s stock.

Atlantic Union Bankshares Stock Performance

AUB stock opened at $31.34 on Tuesday. The company has a market cap of $4.47 billion, a P/E ratio of 13.69 and a beta of 0.93. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.91 and a quick ratio of 0.91. Atlantic Union Bankshares Co. has a 1 year low of $22.85 and a 1 year high of $44.54. The stock’s fifty day moving average price is $34.35 and its 200-day moving average price is $32.86.

Atlantic Union Bankshares (NASDAQ:AUB) last announced its earnings results on Thursday, October 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.02). Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%.The firm had revenue of $319.21 million during the quarter, compared to analysts’ expectations of $377.92 million. During the same period in the previous year, the business posted $0.83 earnings per share. The company’s revenue for the quarter was up 69.8% on a year-over-year basis. On average, equities analysts forecast that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current year.

Atlantic Union Bankshares Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 4.7%. This is a positive change from Atlantic Union Bankshares’s previous quarterly dividend of $0.34. The ex-dividend date is Friday, November 14th. Atlantic Union Bankshares’s dividend payout ratio (DPR) is presently 79.14%.

Analyst Upgrades and Downgrades

Several analysts recently commented on AUB shares. TD Cowen cut their price objective on shares of Atlantic Union Bankshares from $46.00 to $44.00 and set a “buy” rating on the stock in a research report on Monday, October 27th. Janney Montgomery Scott started coverage on shares of Atlantic Union Bankshares in a research report on Wednesday, October 8th. They set a “buy” rating and a $42.00 price target for the company. Morgan Stanley upped their price objective on Atlantic Union Bankshares from $35.00 to $41.00 and gave the company an “underperform” rating in a research report on Monday, September 29th. Cowen reissued a “buy” rating on shares of Atlantic Union Bankshares in a report on Monday, October 27th. Finally, National Bankshares set a $46.00 price target on Atlantic Union Bankshares in a report on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.61.

Atlantic Union Bankshares Profile

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.