Atlantic Union Bankshares Co. (NASDAQ:AUB) Holdings Lifted by Cerity Partners LLC

Cerity Partners LLC raised its position in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 24.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 55,349 shares of the company’s stock after acquiring an additional 10,860 shares during the quarter. Cerity Partners LLC’s holdings in Atlantic Union Bankshares were worth $2,085,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Citigroup Inc. increased its holdings in shares of Atlantic Union Bankshares by 22.6% during the third quarter. Citigroup Inc. now owns 161,729 shares of the company’s stock valued at $6,092,000 after purchasing an additional 29,784 shares during the period. Charles Schwab Investment Management Inc. grew its position in Atlantic Union Bankshares by 8.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 973,480 shares of the company’s stock valued at $36,671,000 after buying an additional 77,642 shares in the last quarter. Intech Investment Management LLC bought a new position in Atlantic Union Bankshares in the 3rd quarter valued at about $526,000. Jennison Associates LLC increased its stake in Atlantic Union Bankshares by 21.1% during the 3rd quarter. Jennison Associates LLC now owns 536,814 shares of the company’s stock valued at $20,222,000 after buying an additional 93,664 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in shares of Atlantic Union Bankshares by 2.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 49,019 shares of the company’s stock worth $1,847,000 after buying an additional 958 shares in the last quarter. Institutional investors own 78.58% of the company’s stock.

Atlantic Union Bankshares Stock Performance

AUB opened at $42.43 on Monday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.13. The firm has a market cap of $3.81 billion, a PE ratio of 17.61 and a beta of 0.89. The business has a fifty day simple moving average of $39.23 and a 200-day simple moving average of $36.90. Atlantic Union Bankshares Co. has a fifty-two week low of $30.22 and a fifty-two week high of $44.54.

Atlantic Union Bankshares (NASDAQ:AUB) last released its earnings results on Monday, October 21st. The company reported $0.83 earnings per share for the quarter, topping 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 period last year, the firm posted $0.80 earnings per share. As a group, equities analysts predict that Atlantic Union Bankshares Co. will post 2.93 EPS for the current fiscal year.

Atlantic Union Bankshares Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.21%. This is a positive change from Atlantic Union Bankshares’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, November 8th. Atlantic Union Bankshares’s dividend payout ratio is 56.43%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on AUB shares. Keefe, Bruyette & Woods raised their price objective on shares of Atlantic Union Bankshares from $42.00 to $46.00 and gave the company a “market perform” rating in a research note on Friday, November 22nd. Raymond James lowered their price target on Atlantic Union Bankshares from $45.00 to $41.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 2nd. Finally, Hovde Group dropped their price objective 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. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $42.00.

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.