Kestra Advisory Services LLC Lowers Position in Atlantic Union Bankshares Co. $AUB

Kestra Advisory Services LLC lessened its stake in shares of Atlantic Union Bankshares Co. (NYSE:AUB) by 12.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 99,320 shares of the company’s stock after selling 14,630 shares during the quarter. Kestra Advisory Services LLC owned 0.07% of Atlantic Union Bankshares worth $3,550,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. UBS Group AG grew its position in Atlantic Union Bankshares by 10.9% in the 4th quarter. UBS Group AG now owns 475,259 shares of the company’s stock valued at $16,777,000 after acquiring an additional 46,867 shares in the last quarter. Congress Asset Management Co. raised its holdings in shares of Atlantic Union Bankshares by 4.7% in the 4th quarter. Congress Asset Management Co. now owns 1,964,949 shares of the company’s stock valued at $69,363,000 after purchasing an additional 87,761 shares in the last quarter. Sovran Advisors LLC purchased a new position in Atlantic Union Bankshares in the fourth quarter valued at $1,204,000. AlphaCore Capital LLC purchased a new position in Atlantic Union Bankshares in the fourth quarter valued at $1,941,000. Finally, William Blair Investment Management LLC raised its stake in Atlantic Union Bankshares by 8.8% in the fourth quarter. William Blair Investment Management LLC now owns 1,111,244 shares of the company’s stock valued at $39,227,000 after buying an additional 89,794 shares in the last quarter. 78.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently issued reports on AUB shares. Zacks Research cut Atlantic Union Bankshares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. TD Cowen lifted their price target on Atlantic Union Bankshares from $44.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Weiss Ratings started coverage on shares of Atlantic Union Bankshares in a research note on Monday, July 6th. They set a “buy (b-)” rating for the company. Piper Sandler upped their price objective on shares of Atlantic Union Bankshares from $45.00 to $46.00 and gave the stock an “overweight” rating in a research report on Thursday, June 11th. Finally, Morgan Stanley upped their price objective on Atlantic Union Bankshares from $42.00 to $45.00 and gave the stock an “equal weight” rating in a report on Monday, June 29th. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $43.62.

Atlantic Union Bankshares Price Performance

AUB stock opened at $42.64 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.92 and a current ratio of 0.92. Atlantic Union Bankshares Co. has a 1 year low of $30.39 and a 1 year high of $43.62. The stock has a 50-day simple moving average of $39.46 and a 200-day simple moving average of $38.24. The firm has a market cap of $6.10 billion, a P/E ratio of 18.07 and a beta of 0.79.

Atlantic Union Bankshares (NYSE:AUB) last posted its earnings results on Tuesday, April 21st. The company reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.03). Atlantic Union Bankshares had a return on equity of 10.74% and a net margin of 15.50%.The firm had revenue of $371.71 million for the quarter, compared to analyst estimates of $391.24 million. During the same period in the previous year, the firm posted $0.90 earnings per share. On average, equities analysts predict that Atlantic Union Bankshares Co. will post 3.74 earnings per share for the current fiscal year.

Atlantic Union Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 22nd were issued a dividend of $0.37 per share. The ex-dividend date was Friday, May 22nd. This represents a $1.48 annualized dividend and a yield of 3.5%. Atlantic Union Bankshares’s payout ratio is currently 62.71%.

Insider Activity

In related news, Director Nancy H. Agee purchased 650 shares of the business’s stock in a transaction that occurred on Monday, April 20th. The shares were purchased at an average cost of $39.05 per share, with a total value of $25,382.50. Following the completion of the acquisition, the director directly owned 37,797 shares of the company’s stock, valued at approximately $1,475,972.85. The trade was a 1.75% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.96% of the company’s stock.

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.