New York State Common Retirement Fund Buys 17,570 Shares of Atlantic Union Bankshares Co. $AUB

New York State Common Retirement Fund raised its stake in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 63.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,222 shares of the company’s stock after buying an additional 17,570 shares during the period. New York State Common Retirement Fund’s holdings in Atlantic Union Bankshares were worth $1,415,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in AUB. Curio Wealth LLC purchased a new position in Atlantic Union Bankshares in the second quarter worth $28,000. Huntington National Bank lifted its stake in Atlantic Union Bankshares by 71.7% during the second quarter. Huntington National Bank now owns 1,298 shares of the company’s stock worth $41,000 after purchasing an additional 542 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in Atlantic Union Bankshares by 64.8% during the second quarter. Nomura Asset Management Co. Ltd. now owns 1,533 shares of the company’s stock worth $48,000 after purchasing an additional 603 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of Atlantic Union Bankshares by 50.2% in the 2nd quarter. Fifth Third Bancorp now owns 2,052 shares of the company’s stock worth $64,000 after purchasing an additional 686 shares in the last quarter. Finally, Spire Wealth Management bought a new position in shares of Atlantic Union Bankshares during the 2nd quarter valued at about $79,000. Hedge funds and other institutional investors own 78.58% of the company’s stock.

Atlantic Union Bankshares Trading Up 0.9%

NASDAQ:AUB opened at $34.58 on Wednesday. The firm has a market capitalization of $4.93 billion, a P/E ratio of 15.10 and a beta of 0.85. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.13. The company has a fifty day moving average of $33.75 and a 200 day moving average of $33.29. Atlantic Union Bankshares Co. has a 52 week low of $22.85 and a 52 week high of $42.73.

Atlantic Union Bankshares (NASDAQ:AUB) last announced its quarterly earnings results on Thursday, October 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.02). Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%.The firm had revenue of $319.21 million during the quarter, compared to the consensus estimate of $377.92 million. During the same period last year, the business earned $0.83 EPS. Atlantic Union Bankshares’s revenue was up 69.8% on a year-over-year basis. On average, research analysts predict that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current year.

Atlantic Union Bankshares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 14th were issued a $0.37 dividend. This is a boost from Atlantic Union Bankshares’s previous quarterly dividend of $0.34. The ex-dividend date was Friday, November 14th. This represents a $1.48 annualized dividend and a yield of 4.3%. Atlantic Union Bankshares’s dividend payout ratio (DPR) is currently 79.14%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Cowen restated a “buy” rating on shares of Atlantic Union Bankshares in a research report on Monday, October 27th. TD Cowen lowered their price objective on shares of Atlantic Union Bankshares from $46.00 to $44.00 and set a “buy” rating for the company in a report on Monday, October 27th. National Bankshares set a $46.00 price objective on shares of Atlantic Union Bankshares in a research note on Wednesday, September 24th. Piper Sandler decreased their target price on shares of Atlantic Union Bankshares from $45.00 to $41.50 and set an “overweight” rating on the stock in a research report on Friday, October 24th. Finally, Janney Montgomery Scott started coverage on shares of Atlantic Union Bankshares in a research report on Wednesday, October 8th. They set a “buy” rating and a $42.00 price target for the company. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Atlantic Union Bankshares presently has an average rating of “Moderate Buy” and an average target price of $40.61.

About Atlantic Union Bankshares

Atlantic Union Bankshares Corporation operates as the bank holding company for Atlantic Union Bank that provides banking and related financial products and services to consumers and businesses in the United States. It operates in two segments, Wholesale Banking and Consumer Banking. The company accepts various deposit products, including checking, savings, time deposit, and money market accounts; certificates of deposit; and other depository services.