Thrivent Financial for Lutherans Raises Holdings in Atlantic Union Bankshares Co. $AUB

Thrivent Financial for Lutherans boosted its position in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 1,128.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,398,654 shares of the company’s stock after purchasing an additional 1,284,759 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Atlantic Union Bankshares were worth $49,358,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC grew its holdings in shares of Atlantic Union Bankshares by 634.3% during the first quarter. AQR Capital Management LLC now owns 41,902 shares of the company’s stock worth $1,305,000 after buying an additional 36,196 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Atlantic Union Bankshares by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 53,232 shares of the company’s stock worth $1,658,000 after acquiring an additional 2,322 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Atlantic Union Bankshares by 36.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,137,072 shares of the company’s stock valued at $66,548,000 after acquiring an additional 565,564 shares in the last quarter. Empowered Funds LLC acquired a new stake in Atlantic Union Bankshares in the 1st quarter valued at about $3,011,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Atlantic Union Bankshares by 9.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 249,378 shares of the company’s stock valued at $7,766,000 after acquiring an additional 22,078 shares during the last quarter. Hedge funds and other institutional investors own 78.58% of the company’s stock.

Atlantic Union Bankshares Trading Up 1.9%

Shares of Atlantic Union Bankshares stock opened at $39.59 on Tuesday. Atlantic Union Bankshares Co. has a fifty-two week low of $22.85 and a fifty-two week high of $40.71. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a market capitalization of $5.64 billion, a price-to-earnings ratio of 17.29 and a beta of 0.83. The stock has a 50 day moving average of $36.64 and a 200 day moving average of $34.91.

Atlantic Union Bankshares (NASDAQ:AUB) last released its quarterly earnings results on Thursday, January 22nd. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.11. The business had revenue of $391.33 million during the quarter, compared to analysts’ expectations of $378.95 million. Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%.During the same period in the prior year, the business posted $0.67 EPS. As a group, research analysts predict that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current year.

Atlantic Union Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be given a dividend of $0.37 per share. The ex-dividend date is Friday, February 13th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.7%. Atlantic Union Bankshares’s dividend payout ratio (DPR) is currently 72.55%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AUB. Janney Montgomery Scott began coverage on Atlantic Union Bankshares in a report on Wednesday, October 8th. They set a “buy” rating and a $42.00 target price on the stock. Raymond James Financial set a $45.00 price objective on Atlantic Union Bankshares in a research report on Thursday, December 11th. TD Cowen restated a “buy” rating on shares of Atlantic Union Bankshares in a report on Thursday, December 11th. Morgan Stanley raised their target price on Atlantic Union Bankshares from $41.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 11th. Finally, Stephens boosted their price target on shares of Atlantic Union Bankshares from $43.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, January 26th. Six research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $41.95.

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.