Paloma Partners Management Co Takes Position in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Paloma Partners Management Co purchased a new stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 28,642 shares of the company’s stock, valued at approximately $1,011,000.

Other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its stake in Atlantic Union Bankshares by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,917,470 shares of the company’s stock valued at $179,687,000 after purchasing an additional 28,655 shares during the last quarter. State Board of Administration of Florida Retirement System grew its stake in Atlantic Union Bankshares by 68.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 36,209 shares of the company’s stock valued at $1,269,000 after purchasing an additional 14,760 shares during the last quarter. Edgestream Partners L.P. purchased a new position in Atlantic Union Bankshares in the first quarter valued at about $783,000. Louisiana State Employees Retirement System purchased a new position in Atlantic Union Bankshares in the fourth quarter valued at about $1,370,000. Finally, Franklin Resources Inc. grew its stake in Atlantic Union Bankshares by 41.5% in the fourth quarter. Franklin Resources Inc. now owns 892,883 shares of the company’s stock valued at $32,626,000 after purchasing an additional 261,825 shares during the last quarter. Hedge funds and other institutional investors own 78.58% of the company’s stock.

Atlantic Union Bankshares Stock Performance

Shares of Atlantic Union Bankshares stock traded down $0.78 on Monday, reaching $41.11. 386,623 shares of the stock were exchanged, compared to its average volume of 417,774. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.14. Atlantic Union Bankshares Co. has a twelve month low of $26.91 and a twelve month high of $42.50. The firm has a market capitalization of $3.69 billion, a price-to-earnings ratio of 15.11 and a beta of 0.90. The business has a 50 day moving average price of $33.93 and a two-hundred day moving average price of $33.84.

Atlantic Union Bankshares (NASDAQ:AUB) last released its earnings results on Thursday, July 25th. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.05). Atlantic Union Bankshares had a return on equity of 8.95% and a net margin of 15.53%. The firm had revenue of $212.20 million for the quarter, compared to analyst estimates of $216.03 million. During the same period last year, the firm earned $0.74 EPS. The company’s revenue for the quarter was up 17.9% compared to the same quarter last year. Analysts anticipate that Atlantic Union Bankshares Co. will post 2.92 earnings per share for the current fiscal year.

Atlantic Union Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Friday, August 9th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date of this dividend is Friday, August 9th. Atlantic Union Bankshares’s payout ratio is presently 47.06%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on AUB shares. Stephens dropped their price target on 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. Hovde Group boosted their price target on Atlantic Union Bankshares from $40.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday. Keefe, Bruyette & Woods boosted their price target on Atlantic Union Bankshares from $35.00 to $38.00 and gave the stock a “market perform” rating in a research note on Monday. Finally, Piper Sandler dropped their price target on 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. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $40.20.

Insider Buying and Selling at Atlantic Union Bankshares

In related news, Director Frank Russell Ellett purchased 5,000 shares of the firm’s stock in a transaction on Thursday, June 6th. The stock was bought at an average cost of $31.71 per share, with a total value of $158,550.00. Following the completion of the acquisition, the director now owns 47,334 shares of the company’s stock, valued at approximately $1,500,961.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.87% of the stock is currently owned by corporate insiders.

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.