Atlantic Union Bankshares Co. $AUB Shares Sold by North Reef Capital Management LP

North Reef Capital Management LP lessened its position in Atlantic Union Bankshares Co. (NYSE:AUB) by 6.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,285,000 shares of the company’s stock after selling 287,090 shares during the quarter. Atlantic Union Bankshares comprises 5.3% of North Reef Capital Management LP’s holdings, making the stock its 6th largest position. North Reef Capital Management LP owned 2.99% of Atlantic Union Bankshares worth $153,146,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in AUB. IFP Advisors Inc raised its stake in Atlantic Union Bankshares by 362.5% in the 4th quarter. IFP Advisors Inc now owns 740 shares of the company’s stock valued at $26,000 after purchasing an additional 580 shares during the last quarter. Commonwealth Retirement Investments LLC acquired a new stake in Atlantic Union Bankshares during the 4th quarter worth $39,000. EverSource Wealth Advisors LLC grew its holdings in shares of Atlantic Union Bankshares by 504.7% during the second quarter. EverSource Wealth Advisors LLC now owns 1,542 shares of the company’s stock worth $48,000 after buying an additional 1,287 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Atlantic Union Bankshares by 138.9% during the fourth quarter. Farther Finance Advisors LLC now owns 2,064 shares of the company’s stock worth $73,000 after buying an additional 1,200 shares in the last quarter. Finally, Johnson Financial Group Inc. acquired a new stake in shares of Atlantic Union Bankshares in the third quarter valued at about $77,000. 78.58% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AUB has been the topic of several research reports. Weiss Ratings assumed coverage on shares of Atlantic Union Bankshares in a research note on Monday, July 6th. They issued a “buy (b-)” rating on the stock. Stephens reiterated an “overweight” rating and issued a $46.00 price objective on shares of Atlantic Union Bankshares in a report on Thursday, June 11th. TD Cowen raised their target price on shares of Atlantic Union Bankshares from $46.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday. Piper Sandler restated an “overweight” rating and set a $47.00 target price on shares of Atlantic Union Bankshares in a report on Wednesday. Finally, Zacks Research lowered Atlantic Union Bankshares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $44.12.

Atlantic Union Bankshares Stock Up 0.1%

Shares of NYSE AUB opened at $42.18 on Friday. The company has a market capitalization of $6.04 billion, a P/E ratio of 12.59 and a beta of 0.79. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.93 and a quick ratio of 0.92. The company has a 50 day simple moving average of $40.02 and a 200-day simple moving average of $38.48. Atlantic Union Bankshares Co. has a 1 year low of $30.39 and a 1 year high of $43.62.

Atlantic Union Bankshares (NYSE:AUB) last released its quarterly earnings data on Tuesday, July 21st. The company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.02. The firm had revenue of $387.57 million for the quarter, compared to analysts’ expectations of $389.06 million. Atlantic Union Bankshares had a return on equity of 10.55% and a net margin of 21.97%.The firm’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.95 earnings per share. On average, equities research analysts predict that Atlantic Union Bankshares Co. will post 3.76 earnings per share for the current year.

Atlantic Union Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Friday, August 7th will be given a $0.37 dividend. The ex-dividend date is Friday, August 7th. This represents a $1.48 dividend on an annualized basis and a yield of 3.5%. Atlantic Union Bankshares’s payout ratio is currently 44.18%.

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.