Atlantic Union Bankshares Co. $AUB Shares Acquired by California State Teachers Retirement System

California State Teachers Retirement System increased its position in shares of Atlantic Union Bankshares Co. (NYSE:AUB) by 21.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 164,102 shares of the company’s stock after purchasing an additional 28,505 shares during the period. California State Teachers Retirement System’s holdings in Atlantic Union Bankshares were worth $5,865,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. IFP Advisors Inc grew its holdings in Atlantic Union Bankshares by 362.5% during the fourth quarter. IFP Advisors Inc now owns 740 shares of the company’s stock worth $26,000 after acquiring an additional 580 shares during the period. Commonwealth Retirement Investments LLC acquired a new stake in Atlantic Union Bankshares in the 4th quarter valued at about $39,000. EverSource Wealth Advisors LLC boosted its position in shares of Atlantic Union Bankshares by 504.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,542 shares of the company’s stock valued at $48,000 after purchasing an additional 1,287 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of Atlantic Union Bankshares by 138.9% in the 4th quarter. Farther Finance Advisors LLC now owns 2,064 shares of the company’s stock worth $73,000 after purchasing an additional 1,200 shares during the last quarter. Finally, Johnson Financial Group Inc. bought a new stake in shares of Atlantic Union Bankshares in the 3rd quarter worth approximately $77,000. 78.58% of the stock is owned by institutional investors.

Atlantic Union Bankshares Price Performance

Shares of NYSE:AUB opened at $43.10 on Thursday. The company’s fifty day moving average is $40.86 and its two-hundred day moving average is $38.81. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.15. Atlantic Union Bankshares Co. has a 12-month low of $30.87 and a 12-month high of $43.62. The company has a market cap of $6.17 billion, a P/E ratio of 12.86 and a beta of 0.79.

Atlantic Union Bankshares (NYSE:AUB) last released its earnings results on Tuesday, July 21st. The company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.02. The company had revenue of $387.57 million during the quarter, compared to analyst estimates of $389.06 million. Atlantic Union Bankshares had a return on equity of 10.55% and a net margin of 21.97%.The company’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.95 earnings per share. Equities analysts expect that Atlantic Union Bankshares Co. will post 3.76 earnings per share for the current fiscal year.

Atlantic Union Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Friday, August 7th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Friday, August 7th. Atlantic Union Bankshares’s dividend payout ratio is currently 44.18%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Stephens restated an “overweight” rating and set a $46.00 target price on shares of Atlantic Union Bankshares in a report on Thursday, June 11th. Morgan Stanley increased their price objective on Atlantic Union Bankshares from $42.00 to $45.00 and gave the company an “equal weight” rating in a research report on Monday, June 29th. Piper Sandler restated an “overweight” rating and issued a $47.00 target price on shares of Atlantic Union Bankshares in a report on Wednesday, July 22nd. Weiss Ratings assumed coverage on Atlantic Union Bankshares in a research report on Monday, July 6th. They set a “buy (b-)” rating on the stock. Finally, TD Cowen increased their price target on Atlantic Union Bankshares from $46.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $45.57.

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.