Principal Financial Group Inc. Sells 19,503 Shares of Atlantic Union Bankshares Co. (NASDAQ:AUB)

Principal Financial Group Inc. cut its holdings in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 4.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 423,265 shares of the company’s stock after selling 19,503 shares during the period. Principal Financial Group Inc. owned 0.47% of Atlantic Union Bankshares worth $15,944,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in shares of Atlantic Union Bankshares by 88.6% during the third quarter. GAMMA Investing LLC now owns 1,041 shares of the company’s stock worth $39,000 after purchasing an additional 489 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of Atlantic Union Bankshares by 77.7% during the third quarter. UMB Bank n.a. now owns 1,105 shares of the company’s stock worth $42,000 after purchasing an additional 483 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Atlantic Union Bankshares by 110.2% during the third quarter. Blue Trust Inc. now owns 2,089 shares of the company’s stock worth $79,000 after purchasing an additional 1,095 shares during the last quarter. Family Firm Inc. purchased a new position in shares of Atlantic Union Bankshares during the second quarter worth $85,000. Finally, EMC Capital Management purchased a new position in shares of Atlantic Union Bankshares during the first quarter worth $199,000. 78.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AUB has been the topic of several research analyst reports. Hovde Group dropped their target price on shares of Atlantic Union Bankshares from $46.00 to $45.00 and set an “outperform” rating on the stock in a research report on Friday, September 13th. Keefe, Bruyette & Woods boosted their price target 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. Finally, Raymond James reduced their price target on shares of Atlantic Union Bankshares from $45.00 to $41.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Atlantic Union Bankshares presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.40.

Atlantic Union Bankshares Trading Down 0.4 %

Shares of Atlantic Union Bankshares stock opened at $42.48 on Friday. The company has a fifty day simple moving average of $38.36 and a 200-day simple moving average of $36.26. Atlantic Union Bankshares Co. has a 12-month low of $30.22 and a 12-month high of $43.57. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.13. The stock has a market cap of $3.81 billion, a price-to-earnings ratio of 17.63 and a beta of 0.89.

Atlantic Union Bankshares (NASDAQ:AUB) last issued its earnings results on Monday, October 21st. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.01. The business had revenue of $358.81 million for the quarter, compared to the consensus estimate of $226.70 million. Atlantic Union Bankshares had a net margin of 16.25% and a return on equity of 8.85%. During the same quarter in the previous year, the firm earned $0.80 earnings per share. On average, equities analysts forecast that Atlantic Union Bankshares Co. will post 2.93 EPS 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 22nd. Shareholders of record on Friday, November 8th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.36 dividend on an annualized basis and a yield of 3.20%. This is a boost from Atlantic Union Bankshares’s previous quarterly dividend of $0.32. Atlantic Union Bankshares’s payout ratio is presently 56.43%.

Atlantic Union Bankshares Company Profile

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.