Atlantic Union Bankshares Co. (NASDAQ:AUB) Stake Lowered by Janus Henderson Group PLC

Janus Henderson Group PLC trimmed its stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 15.4% during the third quarter, Holdings Channel reports. The firm owned 38,528 shares of the company’s stock after selling 7,000 shares during the period. Janus Henderson Group PLC’s holdings in Atlantic Union Bankshares were worth $1,452,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in AUB. Oppenheimer & Co. Inc. grew its position in Atlantic Union Bankshares by 5.5% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 8,616 shares of the company’s stock worth $325,000 after purchasing an additional 450 shares during the last quarter. UMB Bank n.a. grew its holdings in Atlantic Union Bankshares by 77.7% in the 3rd quarter. UMB Bank n.a. now owns 1,105 shares of the company’s stock worth $42,000 after buying an additional 483 shares in the last quarter. GAMMA Investing LLC increased its position in Atlantic Union Bankshares by 88.6% in 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 during the period. Moors & Cabot Inc. raised its stake in 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. Finally, Trust Point Inc. boosted its position in Atlantic Union Bankshares by 2.0% during the 3rd quarter. Trust Point Inc. now owns 25,998 shares of the company’s stock worth $979,000 after acquiring an additional 513 shares during the period. Institutional investors own 78.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. 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 report on Wednesday, October 2nd. Keefe, Bruyette & Woods raised their target price 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. Finally, Hovde Group reduced their price target on shares of Atlantic Union Bankshares from $46.00 to $45.00 and set an “outperform” rating for the company in a research note on Friday, September 13th. One 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, Atlantic Union Bankshares presently has a consensus rating of “Moderate Buy” and an average price target of $42.00.

Atlantic Union Bankshares Price Performance

NASDAQ:AUB opened at $40.95 on Friday. 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 business’s 50-day moving average price is $40.24 and its 200 day moving average price is $37.48. Atlantic Union Bankshares Co. has a 52-week low of $30.43 and a 52-week high of $44.54. The firm has a market cap of $3.68 billion, a P/E ratio of 16.99 and a beta of 0.91.

Atlantic Union Bankshares (NASDAQ:AUB) last announced its quarterly earnings data 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 company had revenue of $358.81 million for the quarter, compared to analysts’ expectations of $226.70 million. During the same quarter in the previous year, the company posted $0.80 EPS. As a group, sell-side analysts predict that Atlantic Union Bankshares Co. will post 2.93 earnings per share 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. Shareholders of record on Friday, November 8th were issued a $0.34 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.36 annualized dividend and a dividend yield of 3.32%. This is a boost from Atlantic Union Bankshares’s previous quarterly dividend of $0.32. Atlantic Union Bankshares’s dividend payout ratio is currently 56.43%.

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.