Atlantic Union Bankshares (NYSE:AUB) Stock: Insider Ronald Tillett Sells 4,500 Shares

Atlantic Union Bankshares Co. (NYSE:AUB) Director Ronald Tillett sold 4,500 shares of the 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 transaction, 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Atlantic Union Bankshares Stock Performance

Shares of AUB opened at $40.24 on Thursday. The stock’s 50-day simple moving average is $39.13 and its 200 day simple moving average is $39.10. The stock has a market capitalization of $5.75 billion, a price-to-earnings ratio of 10.99 and a beta of 0.83. Atlantic Union Bankshares Co. has a 52-week low of $30.87 and a 52-week high of $43.62. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.94 and a current ratio of 0.94.

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

Atlantic Union Bankshares Increases Dividend

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

Institutional Investors Weigh In On Atlantic Union Bankshares

Several hedge funds and other institutional investors have recently modified their holdings of the stock. StoneX Group Inc. acquired a new position in Atlantic Union Bankshares in the third quarter worth approximately $1,916,000. Pictet Asset Management Holding SA boosted its holdings in shares of Atlantic Union Bankshares by 2.0% during the 3rd quarter. Pictet Asset Management Holding SA now owns 22,720 shares of the company’s stock worth $862,000 after buying an additional 456 shares during the period. Heritage Family Offices LLP bought a new position in Atlantic Union Bankshares during the third quarter valued at about $58,000. Kestra Advisory Services LLC boosted its holdings in Atlantic Union Bankshares by 1.7% during the third quarter. Kestra Advisory Services LLC now owns 101,683 shares of the company’s stock valued at $3,859,000 after purchasing an additional 1,711 shares in the last quarter. Finally, Covestor Ltd increased its stake in shares of Atlantic Union Bankshares by 86.9% in the third quarter. Covestor Ltd now owns 1,976 shares of the company’s stock valued at $75,000 after buying an additional 919 shares in the last quarter. Institutional investors own 78.58% of the company’s stock.

Analyst Upgrades and Downgrades

AUB has been the topic of several recent analyst reports. Weiss Ratings upgraded shares of Atlantic Union Bankshares from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Piper Sandler cut their price objective on shares of Atlantic Union Bankshares from $47.00 to $45.00 and set an “overweight” rating on the stock in a report on Wednesday, October 21st. TD Cowen decreased their target price on shares of Atlantic Union Bankshares from $44.00 to $43.00 and set a “buy” rating for the company in a research note on Wednesday, October 21st. Finally, Morgan Stanley boosted their target price on shares of Atlantic Union Bankshares from $49.00 to $50.00 and gave the company an “equal weight” rating in a report on Monday, September 28th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Atlantic Union Bankshares currently has an average rating of “Moderate Buy” and a consensus target price of $45.80.

Atlantic Union Bankshares Company 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.