Vest Financial LLC Acquires New Shares in Atlantic Union Bankshares Co. $AUB

Vest Financial LLC acquired a new stake in Atlantic Union Bankshares Co. (NYSE:AUB) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 49,001 shares of the company’s stock, valued at approximately $1,860,000.

Other hedge funds have also added to or reduced their stakes in the company. Nykredit A S bought a new stake in Atlantic Union Bankshares during the 2nd quarter worth approximately $51,000. EverSource Wealth Advisors LLC raised its stake in shares of Atlantic Union Bankshares by 25.9% during the first quarter. EverSource Wealth Advisors LLC now owns 1,544 shares of the company’s stock valued at $55,000 after acquiring an additional 318 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of Atlantic Union Bankshares by 24.2% during the third quarter. Farther Finance Advisors LLC now owns 1,881 shares of the company’s stock valued at $71,000 after acquiring an additional 366 shares during the last quarter. CoreCap Advisors LLC raised its stake in shares of Atlantic Union Bankshares by 15.9% during the third quarter. CoreCap Advisors LLC now owns 2,660 shares of the company’s stock valued at $101,000 after acquiring an additional 365 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC acquired a new position in shares of Atlantic Union Bankshares during the first quarter worth $104,000. 78.58% of the stock is currently owned by institutional investors and hedge funds.

Atlantic Union Bankshares Stock Performance

NYSE:AUB opened at $39.94 on Friday. The company has a market capitalization of $5.70 billion, a PE ratio of 10.91 and a beta of 0.80. The company has a 50 day simple moving average of $39.39 and a two-hundred day simple moving average of $39.59. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.93 and a current ratio of 0.94. Atlantic Union Bankshares Co. has a fifty-two week low of $30.87 and a fifty-two week high of $43.62.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Weiss Ratings upgraded shares of Atlantic Union Bankshares from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. TD Cowen lowered their target price on Atlantic Union Bankshares from $44.00 to $43.00 and set a “buy” rating for the company in a research report on Wednesday. Morgan Stanley raised their target price on Atlantic Union Bankshares from $49.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Monday, September 28th. Finally, Piper Sandler cut their target price on Atlantic Union Bankshares from $47.00 to $45.00 and set an “overweight” rating on the stock in a report on Wednesday. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $45.80.

Atlantic Union Bankshares 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.