SG Americas Securities LLC increased its stake in shares of Union Bankshares Corporation (NYSE:AUB) by 36.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,552 shares of the company’s stock after buying an additional 10,118 shares during the quarter. SG Americas Securities LLC’s holdings in Union Bankshares were worth $870,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in AUB. Janus Henderson Group PLC grew its stake in Union Bankshares by 14.4% in the 1st quarter. Janus Henderson Group PLC now owns 2,640,954 shares of the company’s stock valued at $57,837,000 after purchasing an additional 331,857 shares during the period. Geode Capital Management LLC grew its stake in Union Bankshares by 8.2% in the 1st quarter. Geode Capital Management LLC now owns 1,182,347 shares of the company’s stock valued at $25,893,000 after purchasing an additional 89,530 shares during the period. Norges Bank bought a new position in Union Bankshares in the 4th quarter valued at $33,327,000. Franklin Resources Inc. grew its stake in Union Bankshares by 30.9% in the 1st quarter. Franklin Resources Inc. now owns 846,694 shares of the company’s stock valued at $18,543,000 after purchasing an additional 199,623 shares during the period. Finally, GW&K Investment Management LLC grew its stake in Union Bankshares by 2.6% in the 1st quarter. GW&K Investment Management LLC now owns 794,215 shares of the company’s stock valued at $17,393,000 after purchasing an additional 19,967 shares during the period.
AUB has been the subject of a number of recent analyst reports. Piper Sandler initiated coverage on Union Bankshares in a research note on Monday, July 27th. They issued a “neutral” rating for the company. Compass Point upgraded Union Bankshares from a “neutral” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Friday, July 24th. Stephens upgraded Union Bankshares from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, May 5th. Zacks Investment Research upgraded Union Bankshares from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 30th. Finally, Raymond James cut Union Bankshares from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 29th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $36.50.
Union Bankshares (NYSE:AUB) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.09. The firm had revenue of $173.24 million for the quarter, compared to analysts’ expectations of $155.04 million.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Friday, August 7th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $1.00 dividend on an annualized basis and a yield of 4.43%.
In related news, Director Michael W. Clarke sold 6,000 shares of the stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $23.45, for a total transaction of $140,700.00. Following the sale, the director now owns 475,519 shares of the company’s stock, valued at approximately $11,150,920.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael W. Clarke sold 2,000 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $23.16, for a total value of $46,320.00. Following the sale, the director now directly owns 530,979 shares in the company, valued at approximately $12,297,473.64. The disclosure for this sale can be found here. Insiders have sold a total of 52,000 shares of company stock worth $1,221,420 in the last three months.
Union Bankshares Company Profile
Atlantic Union Bankshares Corporation operates as the holding company for Atlantic Union Bank that provides banking and related financial services to consumers and businesses. It accepts various deposit products, including checking, savings, NOW, time deposit, and money market accounts, as well as certificates of deposit and other depository services.
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