Truist Financial Corp Acquires 18,107 Shares of Atlantic Union Bankshares Co. $AUB

Truist Financial Corp lifted its stake in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 11.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 181,264 shares of the company’s stock after acquiring an additional 18,107 shares during the period. Truist Financial Corp’s holdings in Atlantic Union Bankshares were worth $6,397,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Farther Finance Advisors LLC grew its holdings in Atlantic Union Bankshares by 309.5% during the third quarter. Farther Finance Advisors LLC now owns 864 shares of the company’s stock valued at $30,000 after purchasing an additional 653 shares during the period. Curio Wealth LLC bought a new position in shares of Atlantic Union Bankshares in the second quarter worth about $28,000. Huntington National Bank lifted its position in shares of Atlantic Union Bankshares by 71.7% during the 2nd quarter. Huntington National Bank now owns 1,298 shares of the company’s stock valued at $41,000 after buying an additional 542 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its position in shares of Atlantic Union Bankshares by 64.8% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 1,533 shares of the company’s stock valued at $48,000 after buying an additional 603 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Atlantic Union Bankshares by 504.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,542 shares of the company’s stock valued at $48,000 after acquiring an additional 1,287 shares during the period. 78.58% of the stock is currently owned by hedge funds and other institutional investors.

Atlantic Union Bankshares Price Performance

AUB stock opened at $39.59 on Tuesday. Atlantic Union Bankshares Co. has a one year low of $22.85 and a one year high of $40.71. The company’s fifty day moving average price is $36.64 and its 200-day moving average price is $34.91. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market capitalization of $5.64 billion, a PE ratio of 17.29 and a beta of 0.83.

Atlantic Union Bankshares (NASDAQ:AUB) last posted its earnings results on Thursday, January 22nd. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.11. The company had revenue of $391.33 million during the quarter, compared to analysts’ expectations 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 period last year, the company posted $0.67 earnings per share. On average, equities analysts anticipate that Atlantic Union Bankshares Co. will post 3.26 EPS for the current fiscal year.

Atlantic Union Bankshares Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have commented on AUB. Morgan Stanley raised their target price on shares of Atlantic Union Bankshares from $41.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 11th. Stephens increased their price objective on shares of Atlantic Union Bankshares from $43.00 to $45.00 and gave the stock an “overweight” rating in a research note on Monday, January 26th. TD Cowen restated a “buy” rating on shares of Atlantic Union Bankshares in a research note on Thursday, December 11th. Piper Sandler dropped their target price on shares of Atlantic Union Bankshares from $45.00 to $41.50 and set an “overweight” rating for the company in a report on Friday, October 24th. Finally, Raymond James Financial set a $45.00 price target on Atlantic Union Bankshares in a research note on Thursday, December 11th. Six investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $41.95.

Atlantic Union Bankshares 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.