VIRGINIA RETIREMENT SYSTEMS ET Al Purchases 47,200 Shares of Atlantic Union Bankshares Co. $AUB

VIRGINIA RETIREMENT SYSTEMS ET Al increased its position in shares of Atlantic Union Bankshares Co. (NYSE:AUB) by 502.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 56,600 shares of the company’s stock after purchasing an additional 47,200 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Atlantic Union Bankshares were worth $2,148,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its position in shares of Atlantic Union Bankshares by 53.4% during the first quarter. Bank of America Corp DE now owns 886,978 shares of the company’s stock valued at $31,701,000 after buying an additional 308,934 shares during the period. Hsbc Holdings PLC grew its stake in shares of Atlantic Union Bankshares by 1,292.0% during the fourth quarter. Hsbc Holdings PLC now owns 106,335 shares of the company’s stock valued at $3,752,000 after buying an additional 98,696 shares during the last quarter. Susquehanna Fundamental Investments LLC grew its stake in shares of Atlantic Union Bankshares by 286.2% during the second quarter. Susquehanna Fundamental Investments LLC now owns 149,189 shares of the company’s stock valued at $6,312,000 after buying an additional 110,560 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Atlantic Union Bankshares by 40.1% during the first quarter. Principal Financial Group Inc. now owns 951,373 shares of the company’s stock valued at $34,002,000 after buying an additional 272,119 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Atlantic Union Bankshares by 1.4% in the first quarter. Dimensional Fund Advisors LP now owns 7,635,464 shares of the company’s stock worth $272,883,000 after buying an additional 102,821 shares during the period. 78.58% of the stock is currently owned by institutional investors.

Atlantic Union Bankshares Price Performance

Shares of AUB stock opened at $39.55 on Wednesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market capitalization of $5.65 billion, a P/E ratio of 10.81 and a beta of 0.83. The company’s 50-day simple moving average is $39.14 and its two-hundred day simple moving average is $39.09. Atlantic Union Bankshares Co. has a one year low of $30.87 and a one year high of $43.62.

Atlantic Union Bankshares (NYSE:AUB) last issued its earnings results on Tuesday, October 20th. The company reported $0.96 EPS for the quarter, hitting analysts’ consensus estimates of $0.96. Atlantic Union Bankshares had a net margin of 23.97% and a return on equity of 10.79%. The business had revenue of $387.90 million for the quarter, compared to analyst estimates of $392.72 million. During the same period last year, the company posted $0.84 earnings per share. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. As a group, equities analysts anticipate that Atlantic Union Bankshares Co. will post 3.77 EPS for the current year.

Atlantic Union Bankshares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Friday, November 13th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 4.0%. This is an increase from Atlantic Union Bankshares’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Friday, November 13th. Atlantic Union Bankshares’s payout ratio is currently 40.44%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Piper Sandler decreased their price target on Atlantic Union Bankshares from $47.00 to $45.00 and set an “overweight” rating for the company in a research note on Wednesday, October 21st. Weiss Ratings raised Atlantic Union Bankshares from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. TD Cowen reduced their target price on Atlantic Union Bankshares from $44.00 to $43.00 and set a “buy” rating on the stock in a research note on Wednesday, October 21st. Finally, Morgan Stanley lifted their target price on Atlantic Union Bankshares from $49.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Monday, September 28th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $45.80.

Insider Activity at Atlantic Union Bankshares

In other Atlantic Union Bankshares news, EVP Matthew L. Linderman sold 7,746 shares of the firm’s stock in a transaction on Thursday, October 22nd. The stock was sold at an average price of $40.00, for a total transaction of $309,840.00. Following the transaction, the executive vice president directly owned 10,455 shares in the company, valued at $418,200. This trade represents a 42.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ronald Tillett sold 4,500 shares of Atlantic Union Bankshares stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $40.01, for a total value of $180,045.00. Following the sale, the director directly owned 30,364 shares of the company’s stock, valued at approximately $1,214,863.64. This trade represents a 12.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.96% of the stock is owned by corporate insiders.

Atlantic Union Bankshares Profile

Atlantic Union Bankshares Corporation (NYSE:AUB) is a financial services holding company headquartered in Richmond, Virginia. Its principal subsidiary, Atlantic Union Bank, provides banking and related financial services to individuals, businesses, institutions and government entities.

The company offers consumer and commercial deposit accounts, residential and commercial real estate lending, business loans, personal loans, treasury and cash management services, mortgage banking, investment and wealth management, and other financial solutions.