Atlantic Union Bankshares Co. (NASDAQ:AUB) Shares Bought by Creative Planning

Creative Planning raised its stake in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 20.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,159 shares of the company’s stock after purchasing an additional 2,240 shares during the quarter. Creative Planning’s holdings in Atlantic Union Bankshares were worth $496,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. UMB Bank n.a. boosted its holdings in shares of Atlantic Union Bankshares by 77.7% in the 3rd quarter. UMB Bank n.a. now owns 1,105 shares of the company’s stock valued at $42,000 after purchasing an additional 483 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Atlantic Union Bankshares by 88.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,041 shares of the company’s stock valued at $39,000 after acquiring an additional 489 shares in the last quarter. Moors & Cabot Inc. lifted its holdings in shares of Atlantic Union Bankshares by 5.5% during the 2nd quarter. Moors & Cabot Inc. now owns 9,532 shares of the company’s stock valued at $313,000 after acquiring an additional 500 shares in the last quarter. US Bancorp DE lifted its holdings in shares of Atlantic Union Bankshares by 6.8% during the 1st quarter. US Bancorp DE now owns 12,098 shares of the company’s stock valued at $427,000 after acquiring an additional 769 shares in the last quarter. Finally, Texas Permanent School Fund Corp lifted its holdings in shares of Atlantic Union Bankshares by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 65,659 shares of the company’s stock valued at $2,318,000 after acquiring an additional 856 shares in the last quarter. Institutional investors and hedge funds own 78.58% of the company’s stock.

Analyst Ratings Changes

AUB has been the topic of several recent research reports. Hovde Group reduced 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 report on Friday, September 13th. Raymond James reduced their target price on shares of Atlantic Union Bankshares from $45.00 to $41.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. Finally, Keefe, Bruyette & Woods lifted 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 report on Monday, July 29th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Atlantic Union Bankshares presently has an average rating of “Moderate Buy” and a consensus target price of $40.40.

Atlantic Union Bankshares Stock Performance

Atlantic Union Bankshares stock opened at $37.84 on Wednesday. Atlantic Union Bankshares Co. has a 12-month low of $29.24 and a 12-month high of $42.50. The company has a market capitalization of $3.40 billion, a price-to-earnings ratio of 15.70 and a beta of 0.89. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.90 and a quick ratio of 0.90. The firm’s fifty day moving average price is $37.79 and its 200 day moving average price is $35.73.

Atlantic Union Bankshares (NASDAQ:AUB) last released its quarterly earnings results on Monday, October 21st. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.01. Atlantic Union Bankshares had a net margin of 16.25% and a return on equity of 8.85%. The firm had revenue of $358.81 million for the quarter, compared to the consensus estimate of $226.70 million. During the same quarter in the previous year, the firm posted $0.80 EPS. On average, research analysts forecast that Atlantic Union Bankshares Co. will post 3.05 EPS for the current fiscal year.

Atlantic Union Bankshares Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be given a $0.34 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.36 annualized dividend and a dividend yield of 3.59%. This is an increase from Atlantic Union Bankshares’s previous quarterly dividend of $0.32. Atlantic Union Bankshares’s payout ratio is presently 53.11%.

Atlantic Union Bankshares 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.