The Manufacturers Life Insurance Company Has $53.77 Million Stake in Atlantic Union Bankshares Co. (NASDAQ:AUB)

The Manufacturers Life Insurance Company reduced its stake in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 0.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,636,712 shares of the company’s stock after selling 1,747 shares during the period. The Manufacturers Life Insurance Company owned approximately 1.82% of Atlantic Union Bankshares worth $53,766,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in AUB. Mather Group LLC. bought a new stake in shares of Atlantic Union Bankshares during the 1st quarter valued at $27,000. Family Firm Inc. bought a new stake in Atlantic Union Bankshares during the second quarter worth about $85,000. TFO Wealth Partners LLC grew its stake in Atlantic Union Bankshares by 386,100.0% during the fourth quarter. TFO Wealth Partners LLC now owns 3,862 shares of the company’s stock worth $141,000 after buying an additional 3,861 shares in the last quarter. Central Pacific Bank Trust Division bought a new position in Atlantic Union Bankshares in the 1st quarter valued at about $179,000. Finally, EMC Capital Management acquired a new position in shares of Atlantic Union Bankshares in the 1st quarter valued at approximately $199,000. Institutional investors and hedge funds own 78.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on AUB shares. Keefe, Bruyette & Woods lifted their price objective 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. Hovde Group decreased their price target 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 investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $40.00.

Atlantic Union Bankshares Stock Up 0.1 %

Shares of AUB opened at $37.11 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.90 and a current ratio of 0.90. Atlantic Union Bankshares Co. has a 52 week low of $26.91 and a 52 week high of $42.50. The stock has a market capitalization of $3.33 billion, a price-to-earnings ratio of 13.64 and a beta of 0.89. The stock has a fifty day moving average of $38.30 and a 200-day moving average of $35.02.

Atlantic Union Bankshares (NASDAQ:AUB) last posted its earnings results on Thursday, July 25th. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.05). Atlantic Union Bankshares had a return on equity of 8.95% and a net margin of 15.53%. The business had revenue of $212.20 million for the quarter, compared to analyst estimates of $216.03 million. During the same quarter in the prior year, the business earned $0.74 earnings per share. The firm’s quarterly revenue was up 17.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Atlantic Union Bankshares Co. will post 3.04 earnings per share for the current fiscal year.

Atlantic Union Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were issued a $0.32 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.28 dividend on an annualized basis and a yield of 3.45%. Atlantic Union Bankshares’s payout ratio is 47.06%.

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.