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

Principal Financial Group Inc. trimmed its holdings in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 4.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 423,265 shares of the company’s stock after selling 19,503 shares during the quarter. Principal Financial Group Inc. owned about 0.47% of Atlantic Union Bankshares worth $15,944,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of AUB. Nomura Asset Management Co. Ltd. boosted its stake in shares of Atlantic Union Bankshares by 78.8% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 930 shares of the company’s stock worth $35,000 after acquiring an additional 410 shares in the last quarter. Stifel Financial Corp grew its holdings in Atlantic Union Bankshares by 1.3% during the third quarter. Stifel Financial Corp now owns 32,485 shares of the company’s stock valued at $1,224,000 after purchasing an additional 428 shares during the last quarter. Oppenheimer & Co. Inc. raised its position in shares of Atlantic Union Bankshares by 5.5% in the third quarter. Oppenheimer & Co. Inc. now owns 8,616 shares of the company’s stock valued at $325,000 after purchasing an additional 450 shares during the period. UMB Bank n.a. raised its position in shares of Atlantic Union Bankshares by 77.7% in the third 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 period. Finally, GAMMA Investing LLC lifted its stake in shares of Atlantic Union Bankshares by 88.6% in the third quarter. GAMMA Investing LLC now owns 1,041 shares of the company’s stock worth $39,000 after buying an additional 489 shares during the last quarter. 78.58% of the stock is currently owned by institutional investors.

Atlantic Union Bankshares Price Performance

Atlantic Union Bankshares stock opened at $38.08 on Friday. The business has a 50 day simple moving average of $40.33 and a 200 day simple moving average of $37.94. Atlantic Union Bankshares Co. has a one year low of $30.43 and a one year high of $44.54. The company has a market capitalization of $3.42 billion, a PE ratio of 15.80 and a beta of 0.91. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.90 and a quick ratio of 0.90.

Atlantic Union Bankshares (NASDAQ:AUB) last issued its earnings results on Monday, October 21st. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.82 by $0.01. The company 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 company earned $0.80 EPS. On average, sell-side analysts forecast that Atlantic Union Bankshares Co. will post 2.93 EPS for the current fiscal year.

Atlantic Union Bankshares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were issued a dividend of $0.34 per share. The ex-dividend date was Friday, November 8th. This represents a $1.36 dividend on an annualized basis and a yield of 3.57%. This is a positive change from Atlantic Union Bankshares’s previous quarterly dividend of $0.32. Atlantic Union Bankshares’s dividend payout ratio is currently 56.43%.

Analyst Upgrades and Downgrades

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

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.