StoneX Group Inc. Acquires 50,255 Shares of Atlantic Union Bankshares Co. $AUB

StoneX Group Inc. acquired a new position in shares of Atlantic Union Bankshares Co. (NYSE:AUB) in the 3rd quarter, Holdings Channel.com reports. The fund acquired 50,255 shares of the company’s stock, valued at approximately $1,916,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its position in Atlantic Union Bankshares by 1.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,635,464 shares of the company’s stock valued at $272,883,000 after acquiring an additional 102,821 shares in the last quarter. Congress Asset Management Co. boosted its stake in Atlantic Union Bankshares by 1.2% in the 3rd quarter. Congress Asset Management Co. now owns 2,531,692 shares of the company’s stock worth $96,078,000 after purchasing an additional 30,528 shares during the period. Principal Financial Group Inc. increased its holdings in Atlantic Union Bankshares by 40.1% during the 1st quarter. Principal Financial Group Inc. now owns 951,373 shares of the company’s stock worth $34,002,000 after purchasing an additional 272,119 shares in the last quarter. Bank of America Corp DE increased its holdings in Atlantic Union Bankshares by 53.4% during the 1st quarter. Bank of America Corp DE now owns 886,978 shares of the company’s stock worth $31,701,000 after purchasing an additional 308,934 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in Atlantic Union Bankshares by 20.8% during the 2nd quarter. Wellington Management Group LLP now owns 721,211 shares of the company’s stock worth $30,514,000 after purchasing an additional 124,135 shares in the last quarter. 78.58% of the stock is currently owned by institutional investors and hedge funds.

Atlantic Union Bankshares Stock Performance

Shares of AUB stock opened at $39.40 on Monday. Atlantic Union Bankshares Co. has a 12 month low of $30.87 and a 12 month high of $43.62. The company’s fifty day simple moving average is $39.07 and its 200-day simple moving average is $39.11. The firm has a market cap of $5.51 billion, a PE ratio of 10.77 and a beta of 0.83. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.17.

Atlantic Union Bankshares (NYSE:AUB) last released its earnings results on Tuesday, October 20th. The company reported $0.96 earnings per share for the quarter, meeting analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $392.72 million. During the same quarter last year, the firm earned $0.84 earnings per share. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. Equities research analysts expect that Atlantic Union Bankshares Co. will post 3.77 EPS for the current fiscal year.

Atlantic Union Bankshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Friday, November 13th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, November 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.1%. This is a positive change from Atlantic Union Bankshares’s previous quarterly dividend of $0.37. Atlantic Union Bankshares’s dividend payout ratio (DPR) is currently 43.72%.

Analysts Set New Price Targets

AUB has been the topic of several recent research reports. Morgan Stanley lifted their price target on Atlantic Union Bankshares from $49.00 to $50.00 and gave the company an “equal weight” rating in a research note on Monday, September 28th. TD Cowen decreased their price objective on Atlantic Union Bankshares from $44.00 to $43.00 and set a “buy” rating for the company in a report on Wednesday, October 21st. Weiss Ratings raised Atlantic Union Bankshares from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. 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 research note on Wednesday, October 21st. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $45.80.

Insider Transactions at Atlantic Union Bankshares

In related news, Director Ronald L. Tillett sold 4,500 shares of Atlantic Union Bankshares stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $40.01, for a total value of $180,045.00. Following the sale, the director owned 30,364 shares of the company’s stock, valued at approximately $1,214,863.64. The trade was a 12.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Matthew L. Linderman sold 7,746 shares of the company’s stock in a transaction dated Thursday, October 22nd. The stock was sold at an average price of $40.00, for a total value of $309,840.00. Following the sale, the executive vice president owned 10,455 shares in the company, valued at $418,200. The trade was a 42.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.96% of the company’s stock.

About Atlantic Union Bankshares

Atlantic Union Bankshares Corporation is a bank holding company headquartered in Richmond, Virginia. Its principal subsidiary, Atlantic Union Bank, provides personal and business banking services, including deposit accounts, loans, mortgage lending, cash management and wealth management.

The company serves individuals, businesses and organizations primarily across Virginia, Maryland and North Carolina through a network of branches and digital banking services. Its commercial banking offerings include lending and treasury management services for businesses and other institutions.

The company traces its roots to Union Bank & Trust, established in Virginia in 1902.