Dudley Capital Management LLC Decreases Position in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Dudley Capital Management LLC decreased its holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 16.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,071 shares of the company’s stock after selling 6,000 shares during the quarter. Dudley Capital Management LLC’s holdings in Atlantic Union Bankshares were worth $1,133,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. UMB Bank n.a. boosted its holdings in Atlantic Union Bankshares by 77.7% in the third quarter. UMB Bank n.a. now owns 1,105 shares of the company’s stock worth $42,000 after acquiring an additional 483 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Atlantic Union Bankshares by 88.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,041 shares of the company’s stock valued at $39,000 after purchasing an additional 489 shares during the last quarter. Moors & Cabot Inc. boosted its stake in Atlantic Union Bankshares by 5.5% in the 2nd quarter. Moors & Cabot Inc. now owns 9,532 shares of the company’s stock worth $313,000 after purchasing an additional 500 shares in the last quarter. Trust Point Inc. grew its position in Atlantic Union Bankshares by 2.0% during the 3rd quarter. Trust Point Inc. now owns 25,998 shares of the company’s stock worth $979,000 after purchasing an additional 513 shares during the last quarter. Finally, US Bancorp DE increased its stake in Atlantic Union Bankshares by 6.8% during the 1st quarter. US Bancorp DE now owns 12,098 shares of the company’s stock valued at $427,000 after purchasing an additional 769 shares in the last quarter. 78.58% of the stock is currently owned by hedge funds and other institutional investors.

Atlantic Union Bankshares Stock Down 2.8 %

NASDAQ:AUB opened at $41.92 on Friday. The firm has a market capitalization of $3.76 billion, a P/E ratio of 14.93 and a beta of 0.89. The company’s fifty day moving average price is $37.89 and its 200-day moving average price is $35.85. Atlantic Union Bankshares Co. has a 1-year low of $29.24 and a 1-year high of $43.28. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.90 and a quick ratio of 0.90.

Atlantic Union Bankshares (NASDAQ:AUB) last announced its quarterly earnings results on Monday, October 21st. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.01. The company had revenue of $358.81 million for the quarter, compared to the consensus estimate of $226.70 million. Atlantic Union Bankshares had a return on equity of 8.85% and a net margin of 16.25%. During the same period last year, the firm earned $0.80 EPS. As a group, equities research analysts anticipate that Atlantic Union Bankshares Co. will post 2.93 EPS for the current year.

Atlantic Union Bankshares Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be given a dividend of $0.34 per share. This is a boost from Atlantic Union Bankshares’s previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a yield of 3.24%. The ex-dividend date of this dividend is Friday, November 8th. Atlantic Union Bankshares’s dividend payout ratio (DPR) is currently 53.11%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of Atlantic Union Bankshares from $35.00 to $38.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th. Hovde Group lowered their price target on Atlantic Union Bankshares from $46.00 to $45.00 and set an “outperform” rating for the company in a research report on Friday, September 13th. Finally, Raymond James cut their price objective on Atlantic Union Bankshares from $45.00 to $41.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.40.

Atlantic Union Bankshares Company Profile

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.