Verity & Verity LLC Raises Stock Holdings in Atlantic Union Bankshares Co. $AUB

Verity & Verity LLC boosted its position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 29.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 504,420 shares of the company’s stock after buying an additional 115,245 shares during the quarter. Verity & Verity LLC owned approximately 0.35% of Atlantic Union Bankshares worth $17,801,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in AUB. Farther Finance Advisors LLC raised its stake in shares of Atlantic Union Bankshares by 309.5% during the third quarter. Farther Finance Advisors LLC now owns 864 shares of the company’s stock valued at $30,000 after acquiring an additional 653 shares during the last quarter. Curio Wealth LLC purchased a new position in Atlantic Union Bankshares during the 2nd quarter valued at about $28,000. Huntington National Bank increased its holdings in Atlantic Union Bankshares by 71.7% during the 2nd quarter. Huntington National Bank now owns 1,298 shares of the company’s stock valued at $41,000 after purchasing an additional 542 shares during the period. Nomura Asset Management Co. Ltd. raised its position in Atlantic Union Bankshares by 64.8% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 1,533 shares of the company’s stock valued at $48,000 after purchasing an additional 603 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted 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 worth $48,000 after buying an additional 1,287 shares during the period. Institutional investors own 78.58% of the company’s stock.

Atlantic Union Bankshares Stock Up 0.5%

NASDAQ:AUB opened at $35.48 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market capitalization of $5.06 billion, a PE ratio of 15.50 and a beta of 0.83. The firm’s 50-day moving average price is $34.30 and its 200-day moving average price is $33.98. Atlantic Union Bankshares Co. has a 1-year low of $22.85 and a 1-year high of $39.29.

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

Atlantic Union Bankshares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 14th were given a dividend of $0.37 per share. This is a boost from Atlantic Union Bankshares’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Friday, November 14th. This represents a $1.48 dividend on an annualized basis and a yield of 4.2%. Atlantic Union Bankshares’s dividend payout ratio is presently 79.14%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AUB. Janney Montgomery Scott began coverage on Atlantic Union Bankshares in a research note on Wednesday, October 8th. They set a “buy” rating and a $42.00 target price on the stock. TD Cowen lifted their price target on shares of Atlantic Union Bankshares from $44.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, December 11th. National Bankshares set a $46.00 price objective on shares of Atlantic Union Bankshares in a report on Wednesday, September 24th. Cowen reaffirmed a “buy” rating on shares of Atlantic Union Bankshares in a research report on Thursday, December 11th. Finally, Piper Sandler cut their target price on shares of Atlantic Union Bankshares from $45.00 to $41.50 and set an “overweight” rating on the stock in a research note on Friday, October 24th. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Atlantic Union Bankshares has an average rating of “Moderate Buy” and an average price target of $41.61.

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.