Posted by Defense World Staff on Jul 20th, 2024
Oppenheimer & Co. Inc. cut its holdings in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB – Free Report) by 7.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,916 shares of the company’s stock after selling 450 shares during the period. Oppenheimer & Co. Inc.’s holdings in Atlantic Union Bankshares were worth $209,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its position in shares of Atlantic Union Bankshares by 0.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,917,470 shares of the company’s stock valued at $179,687,000 after acquiring an additional 28,655 shares during the period. Louisiana State Employees Retirement System acquired a new stake in shares of Atlantic Union Bankshares during the 4th quarter valued at about $1,370,000. Franklin Resources Inc. grew its position in shares of Atlantic Union Bankshares by 41.5% during the 4th quarter. Franklin Resources Inc. now owns 892,883 shares of the company’s stock valued at $32,626,000 after acquiring an additional 261,825 shares during the period. Victory Capital Management Inc. grew its position in shares of Atlantic Union Bankshares by 2.9% during the 4th quarter. Victory Capital Management Inc. now owns 1,449,785 shares of the company’s stock valued at $52,975,000 after acquiring an additional 40,659 shares during the period. Finally, Fifth Lane Capital LP acquired a new stake in shares of Atlantic Union Bankshares during the 1st quarter valued at about $1,560,000. 78.58% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on AUB. Piper Sandler decreased their price target on shares of Atlantic Union Bankshares from $40.00 to $38.00 and set an “overweight” rating on the stock in a research note on Monday, April 29th. Keefe, Bruyette & Woods decreased their price target on shares of Atlantic Union Bankshares from $36.00 to $35.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 24th. Finally, Stephens decreased their price target on shares of Atlantic Union Bankshares from $43.00 to $40.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 24th.
Get Our Latest Stock Report on Atlantic Union Bankshares
Atlantic Union Bankshares Trading Down 0.6 %
AUB opened at $38.93 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.90 and a quick ratio of 0.90. The company’s 50 day simple moving average is $33.09 and its two-hundred day simple moving average is $33.66. Atlantic Union Bankshares Co. has a 1-year low of $26.91 and a 1-year high of $40.50. The firm has a market capitalization of $3.49 billion, a price-to-earnings ratio of 14.31 and a beta of 0.90.
Atlantic Union Bankshares (NASDAQ:AUB – Get Free Report) last released its earnings results on Tuesday, April 23rd. The company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.04). Atlantic Union Bankshares had a return on equity of 9.47% and a net margin of 19.51%. The business had revenue of $288.47 million during the quarter, compared to analysts’ expectations of $178.82 million. During the same period last year, the business earned $0.63 earnings per share. Analysts expect that Atlantic Union Bankshares Co. will post 2.92 EPS for the current fiscal year.
Atlantic Union Bankshares Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 24th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend was Thursday, May 23rd. Atlantic Union Bankshares’s dividend payout ratio (DPR) is 47.06%.
Insiders Place Their Bets
In other Atlantic Union Bankshares news, Director Frank Russell Ellett bought 5,000 shares of the firm’s stock in a transaction on Thursday, June 6th. The shares were acquired at an average cost of $31.71 per share, with a total value of $158,550.00. Following the purchase, the director now directly owns 47,334 shares of the company’s stock, valued at approximately $1,500,961.14. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.87% of the company’s stock.
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.
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