Algert Global LLC Invests $296,000 in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Algert Global LLC bought a new stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 9,009 shares of the company’s stock, valued at approximately $296,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of AUB. Vista Investment Management increased its position in Atlantic Union Bankshares by 4.6% during the fourth quarter. Vista Investment Management now owns 9,030 shares of the company’s stock valued at $330,000 after acquiring an additional 395 shares during the last quarter. Taylor Financial Group Inc. bought a new position in Atlantic Union Bankshares during the 4th quarter valued at about $651,000. Goldman Sachs Group Inc. raised its position in Atlantic Union Bankshares by 19.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 971,363 shares of the company’s stock worth $35,494,000 after purchasing an additional 161,479 shares during the period. Fisher Asset Management LLC lifted its stake in Atlantic Union Bankshares by 0.4% in the fourth quarter. Fisher Asset Management LLC now owns 302,253 shares of the company’s stock worth $11,044,000 after purchasing an additional 1,253 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Atlantic Union Bankshares by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 9,290,826 shares of the company’s stock worth $339,487,000 after purchasing an additional 111,580 shares during the last quarter. Hedge funds and other institutional investors own 78.58% of the company’s stock.

Atlantic Union Bankshares Stock Down 0.9 %

Shares of NASDAQ:AUB opened at $36.33 on Wednesday. The business’s 50 day moving average is $37.69 and its 200 day moving average is $35.16. The stock has a market cap of $3.26 billion, a P/E ratio of 13.36 and a beta of 0.89. Atlantic Union Bankshares Co. has a 52-week low of $26.91 and a 52-week high of $42.50. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.14.

Atlantic Union Bankshares (NASDAQ:AUB) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.05). The firm had revenue of $212.20 million for the quarter, compared to the consensus estimate of $216.03 million. Atlantic Union Bankshares had a return on equity of 8.95% and a net margin of 15.53%. Atlantic Union Bankshares’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.74 EPS. Sell-side analysts predict that Atlantic Union Bankshares Co. will post 3.01 EPS for the current year.

Atlantic Union Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were issued a $0.32 dividend. The ex-dividend date was Friday, August 9th. This represents a $1.28 annualized dividend and a dividend yield of 3.52%. Atlantic Union Bankshares’s dividend payout ratio is currently 47.06%.

Analyst Ratings Changes

Several brokerages have recently weighed in on AUB. Raymond James reduced their price target on Atlantic Union Bankshares from $45.00 to $41.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. Hovde Group reduced their target price on Atlantic Union Bankshares from $46.00 to $45.00 and set an “outperform” rating on the stock in a research note on Friday, September 13th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Atlantic Union Bankshares from $35.00 to $38.00 and gave the company a “market perform” rating in a research note on Monday, July 29th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Atlantic Union Bankshares has an average rating of “Moderate Buy” and an average price target of $40.40.

About Atlantic Union Bankshares

Atlantic Union Bankshares Corporation operates as the bank holding company for Atlantic Union Bank that provides banking and related financial products and services to consumers and businesses in the United States. It operates in two segments, Wholesale Banking and Consumer Banking. The company accepts various deposit products, including checking, savings, time deposit, and money market accounts; certificates of deposit; and other depository services.