Thrivent Financial for Lutherans Increases Stock Holdings in Atlantic Union Bankshares Co. $AUB

Thrivent Financial for Lutherans boosted its holdings in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 1,128.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,398,654 shares of the company’s stock after buying an additional 1,284,759 shares during the period. Thrivent Financial for Lutherans owned approximately 0.98% of Atlantic Union Bankshares worth $49,358,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in AUB. Congress Asset Management Co. raised its position in shares of Atlantic Union Bankshares by 1,022.6% in the 3rd quarter. Congress Asset Management Co. now owns 1,877,188 shares of the company’s stock valued at $66,246,000 after purchasing an additional 1,709,975 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Atlantic Union Bankshares by 96.8% in the second quarter. Franklin Resources Inc. now owns 3,313,002 shares of the company’s stock worth $103,631,000 after buying an additional 1,629,591 shares during the last quarter. State Street Corp raised its holdings in shares of Atlantic Union Bankshares by 24.5% in the second quarter. State Street Corp now owns 7,400,456 shares of the company’s stock worth $231,486,000 after buying an additional 1,457,647 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Atlantic Union Bankshares by 59.2% during the second quarter. Geode Capital Management LLC now owns 3,375,225 shares of the company’s stock worth $105,589,000 after buying an additional 1,255,064 shares during the period. Finally, Systematic Financial Management LP grew its holdings in shares of Atlantic Union Bankshares by 189.1% during the second quarter. Systematic Financial Management LP now owns 1,572,663 shares of the company’s stock valued at $49,193,000 after buying an additional 1,028,723 shares during the last quarter. Institutional investors and hedge funds own 78.58% of the company’s stock.

Wall Street Analyst Weigh In

AUB has been the subject of a number of research reports. Stephens lifted their price target on Atlantic Union Bankshares from $43.00 to $45.00 and gave the stock an “overweight” rating in a research report on Monday, January 26th. Piper Sandler decreased their target price on Atlantic Union Bankshares from $45.00 to $41.50 and set an “overweight” rating for the company in a report on Friday, October 24th. Morgan Stanley upped their target price on Atlantic Union Bankshares from $41.00 to $44.00 and gave the company an “equal weight” rating in a research report on Thursday, December 11th. Raymond James Financial set a $45.00 price objective on shares of Atlantic Union Bankshares in a research note on Thursday, December 11th. Finally, Janney Montgomery Scott assumed coverage on shares of Atlantic Union Bankshares in a research note on Wednesday, October 8th. They issued a “buy” rating and a $42.00 price objective on the stock. Six analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Atlantic Union Bankshares currently has an average rating of “Moderate Buy” and a consensus price target of $41.95.

Atlantic Union Bankshares Trading Up 1.9%

Shares of AUB stock opened at $39.59 on Tuesday. Atlantic Union Bankshares Co. has a 1-year low of $22.85 and a 1-year high of $40.71. The company has a market cap of $5.64 billion, a price-to-earnings ratio of 17.29 and a beta of 0.83. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a 50 day simple moving average of $36.64 and a 200-day simple moving average of $34.91.

Atlantic Union Bankshares (NASDAQ:AUB) last issued its quarterly earnings results on Thursday, January 22nd. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.86 by $0.11. The company had revenue of $391.33 million during the quarter, compared to analyst estimates of $378.95 million. Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.50%. During the same quarter in the previous year, the firm earned $0.67 EPS. On average, equities research analysts expect that Atlantic Union Bankshares Co. will post 3.26 EPS for the current fiscal year.

Atlantic Union Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.7%. The ex-dividend date is Friday, February 13th. Atlantic Union Bankshares’s payout ratio is presently 72.55%.

Atlantic Union Bankshares Company Profile

Atlantic Union Bankshares, Inc is a bank holding company headquartered in Richmond, Virginia, operating through its principal subsidiary Atlantic Union Bank. The company offers a full suite of commercial and consumer banking services to individuals, businesses and institutions across Virginia, Maryland, North Carolina and the District of Columbia. Leveraging a network of full-service branches, commercial lending offices and digital platforms, Atlantic Union Bankshares focuses on relationship-driven solutions tailored to its regional client base.

Atlantic Union’s product lineup includes traditional deposit accounts, such as checking, savings and money market accounts, along with certificates of deposit.