MAI Capital Management Increases Stock Holdings in Atlantic Union Bankshares Co. $AUB

MAI Capital Management grew its holdings in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 521.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 36,758 shares of the company’s stock after purchasing an additional 30,844 shares during the quarter. MAI Capital Management’s holdings in Atlantic Union Bankshares were worth $1,297,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in AUB. AQR Capital Management LLC grew its position in Atlantic Union Bankshares by 634.3% during the first quarter. AQR Capital Management LLC now owns 41,902 shares of the company’s stock valued at $1,305,000 after buying an additional 36,196 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Atlantic Union Bankshares by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 53,232 shares of the company’s stock worth $1,658,000 after acquiring an additional 2,322 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Atlantic Union Bankshares by 36.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,137,072 shares of the company’s stock worth $66,548,000 after acquiring an additional 565,564 shares during the last quarter. Empowered Funds LLC bought a new stake in shares of Atlantic Union Bankshares during the 1st quarter valued at $3,011,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Atlantic Union Bankshares by 9.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 249,378 shares of the company’s stock valued at $7,766,000 after acquiring an additional 22,078 shares during the period. Institutional investors own 78.58% of the company’s stock.

Atlantic Union Bankshares Stock Down 6.4%

Shares of AUB opened at $36.97 on Friday. The business’s 50 day moving average is $38.48 and its 200 day moving average is $35.92. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.13. Atlantic Union Bankshares Co. has a 12-month low of $22.85 and a 12-month high of $42.18. The company has a market capitalization of $5.27 billion, a PE ratio of 16.14 and a beta of 0.83.

Atlantic Union Bankshares (NASDAQ:AUB) last announced its quarterly earnings data on Thursday, January 22nd. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.11. The business had revenue of $391.33 million during the quarter, compared to analyst estimates of $378.95 million. Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.50%. During the same period last year, the firm posted $0.67 EPS. Research analysts expect that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current fiscal year.

Atlantic Union Bankshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 13th were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Friday, February 13th. Atlantic Union Bankshares’s dividend payout ratio (DPR) is presently 72.55%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Stephens raised their target price on Atlantic Union Bankshares from $43.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, January 26th. Raymond James Financial set a $45.00 price objective on Atlantic Union Bankshares in a research note on Thursday, December 11th. Morgan Stanley boosted their price objective on Atlantic Union Bankshares from $41.00 to $44.00 and gave the company an “equal weight” rating in a research note on Thursday, December 11th. Zacks Research upgraded shares of Atlantic Union Bankshares from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 5th. Finally, Piper Sandler lifted their price target on shares of Atlantic Union Bankshares from $41.50 to $47.50 and gave the company an “overweight” rating in a report on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.55.

Atlantic Union Bankshares 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.