Atlantic Union Bankshares Co. $AUB Stock Holdings Raised by Congress Asset Management Co.

Congress Asset Management Co. lifted its holdings in Atlantic Union Bankshares Co. (NYSE:AUB) by 1.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,531,692 shares of the company’s stock after purchasing an additional 30,528 shares during the quarter. Congress Asset Management Co.’s holdings in Atlantic Union Bankshares were worth $96,078,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Aristotle Capital Boston LLC purchased a new stake in Atlantic Union Bankshares during the fourth quarter valued at $22,169,000. Bank of America Corp DE increased its stake in shares of Atlantic Union Bankshares by 53.4% in the first quarter. Bank of America Corp DE now owns 886,978 shares of the company’s stock worth $31,701,000 after purchasing an additional 308,934 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Atlantic Union Bankshares by 40.1% in the first quarter. Principal Financial Group Inc. now owns 951,373 shares of the company’s stock valued at $34,002,000 after acquiring an additional 272,119 shares in the last quarter. Fort Washington Investment Advisors Inc. OH boosted its stake in Atlantic Union Bankshares by 36.8% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 829,469 shares of the company’s stock worth $29,645,000 after purchasing an additional 223,210 shares during the period. Finally, Wellington Management Group LLP lifted its stake in Atlantic Union Bankshares by 20.8% in the 2nd quarter. Wellington Management Group LLP now owns 721,211 shares of the company’s stock worth $30,514,000 after purchasing an additional 124,135 shares in the last quarter. Institutional investors own 78.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Piper Sandler restated an “overweight” rating and set a $47.00 price objective on shares of Atlantic Union Bankshares in a research report on Wednesday, July 22nd. TD Cowen reduced their target price on shares of Atlantic Union Bankshares from $48.00 to $44.00 and set a “buy” rating on the stock in a research report on Monday. Weiss Ratings lowered shares of Atlantic Union Bankshares from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, September 17th. Morgan Stanley boosted their price objective on shares of Atlantic Union Bankshares from $49.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Monday, September 28th. Finally, Stephens reaffirmed an “overweight” rating and set a $46.00 target price on shares of Atlantic Union Bankshares in a research report on Thursday, June 11th. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $45.67.

Atlantic Union Bankshares Stock Performance

AUB stock traded down $0.20 during midday trading on Tuesday, reaching $38.16. The stock had a trading volume of 909,055 shares, compared to its average volume of 1,110,074. The firm has a fifty day simple moving average of $40.60 and a two-hundred day simple moving average of $39.32. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.93 and a current ratio of 0.93. The stock has a market cap of $5.45 billion, a PE ratio of 11.39 and a beta of 0.80. Atlantic Union Bankshares Co. has a 52-week low of $30.87 and a 52-week high of $43.62.

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

Atlantic Union Bankshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 7th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend was Friday, August 7th. Atlantic Union Bankshares’s payout ratio is presently 44.18%.

Atlantic Union Bankshares Profile

Atlantic Union Bankshares Corporation (NYSE:AUB) is a financial services holding company headquartered in Richmond, Virginia. Its principal subsidiary, Atlantic Union Bank, provides banking and related financial services to individuals, families, businesses and institutions.

The bank offers deposit accounts, residential and commercial lending, mortgages, credit cards, cash management, treasury services and online and mobile banking. Through its wealth management and investment services, it also provides financial planning, trust, brokerage and portfolio management solutions.

Atlantic Union Bank serves customers through a network of branches and digital channels across Virginia, Maryland and North Carolina, with a focus on the Mid-Atlantic region.