Atlantic Union Bankshares Co. $AUB Shares Purchased by ProShare Advisors LLC

ProShare Advisors LLC grew its stake in shares of Atlantic Union Bankshares Co. (NYSE:AUB) by 33.2% during the third quarter, HoldingsChannel reports. The firm owned 252,195 shares of the company’s stock after purchasing an additional 62,825 shares during the quarter. ProShare Advisors LLC’s holdings in Atlantic Union Bankshares were worth $9,571,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Nykredit A S bought a new position in Atlantic Union Bankshares in the second quarter worth about $51,000. EverSource Wealth Advisors LLC boosted its position in Atlantic Union Bankshares by 25.9% during the 1st 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 in the last quarter. State of Wyoming bought a new stake in Atlantic Union Bankshares during the 3rd quarter valued at approximately $62,000. Farther Finance Advisors LLC boosted its position in Atlantic Union Bankshares by 24.2% during the 3rd 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 in the last quarter. Finally, CoreCap Advisors LLC grew its holdings in shares of Atlantic Union Bankshares by 15.9% during the 3rd quarter. CoreCap Advisors LLC now owns 2,660 shares of the company’s stock worth $101,000 after acquiring an additional 365 shares during the period. Hedge funds and other institutional investors own 78.58% of the company’s stock.

Analyst Ratings Changes

AUB has been the subject of several research reports. Morgan Stanley increased 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. Weiss Ratings upgraded Atlantic Union Bankshares from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Piper Sandler dropped their price target on Atlantic Union Bankshares from $47.00 to $45.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 21st. Finally, TD Cowen reduced their price target on Atlantic Union Bankshares from $44.00 to $43.00 and set a “buy” rating on the stock in a research note on Wednesday, October 21st. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Atlantic Union Bankshares presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.80.

Insider Activity at Atlantic Union Bankshares

In other news, EVP Matthew L. Linderman sold 7,746 shares of Atlantic Union Bankshares stock in a transaction that occurred on Thursday, October 22nd. The shares were sold at an average price of $40.00, for a total transaction of $309,840.00. Following the completion of the transaction, the executive vice president directly owned 10,455 shares in the company, valued at approximately $418,200. This trade represents a 42.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ronald Tillett sold 4,500 shares of the business’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $40.01, for a total value of $180,045.00. Following the completion of the sale, the director directly owned 30,364 shares in the company, valued at approximately $1,214,863.64. This represents a 12.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.96% of the stock is currently owned by company insiders.

Atlantic Union Bankshares Stock Down 2.1%

Shares of Atlantic Union Bankshares stock opened at $39.55 on Wednesday. Atlantic Union Bankshares Co. has a 1 year low of $30.87 and a 1 year high of $43.62. The firm has a market cap of $5.65 billion, a price-to-earnings ratio of 10.81 and a beta of 0.83. The company has a 50-day moving average of $39.14 and a 200 day moving average of $39.09. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.94 and a quick ratio of 0.94.

Atlantic Union Bankshares (NYSE:AUB) last posted its quarterly earnings data on Tuesday, October 20th. The company reported $0.96 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 business had revenue of $387.90 million for the quarter, compared to analyst estimates of $392.72 million. During the same quarter in the previous year, the firm posted $0.84 earnings per share. Atlantic Union Bankshares’s quarterly revenue was up 3.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Atlantic Union Bankshares Co. will post 3.77 earnings per share for the current fiscal year.

Atlantic Union Bankshares Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Friday, November 13th will be paid a dividend of $0.40 per share. This is a positive change from Atlantic Union Bankshares’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Friday, November 13th. Atlantic Union Bankshares’s payout ratio is 40.44%.

Atlantic Union Bankshares Company 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.