Benson Investment Management Company Inc. Buys New Position in Atlantic Union Bankshares Co. $AUB

Benson Investment Management Company Inc. bought a new stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 107,310 shares of the company’s stock, valued at approximately $3,357,000. Benson Investment Management Company Inc. owned approximately 0.08% of Atlantic Union Bankshares at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in AUB. NBC Securities Inc. acquired a new position in Atlantic Union Bankshares during the 1st quarter valued at about $25,000. CWM LLC increased its position in Atlantic Union Bankshares by 99.4% during the 1st quarter. CWM LLC now owns 1,049 shares of the company’s stock valued at $33,000 after buying an additional 523 shares in the last quarter. Fifth Third Bancorp increased its position in Atlantic Union Bankshares by 50.2% during the 2nd quarter. Fifth Third Bancorp now owns 2,052 shares of the company’s stock valued at $64,000 after buying an additional 686 shares in the last quarter. Concord Wealth Partners increased its position in Atlantic Union Bankshares by 304.1% during the 1st quarter. Concord Wealth Partners now owns 2,728 shares of the company’s stock valued at $85,000 after buying an additional 2,053 shares in the last quarter. Finally, ORG Wealth Partners LLC acquired a new position in Atlantic Union Bankshares during the 1st quarter valued at about $100,000. 78.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AUB has been the topic of several recent analyst reports. Keefe, Bruyette & Woods upped their target price on Atlantic Union Bankshares from $33.00 to $34.00 and gave the company a “market perform” rating in a research report on Monday, August 4th. TD Cowen started coverage on Atlantic Union Bankshares in a research note on Thursday, September 25th. They set a “buy” rating and a $46.00 price target on the stock. Raymond James Financial reiterated a “strong-buy” rating and set a $43.00 price target (up previously from $42.00) on shares of Atlantic Union Bankshares in a research note on Friday, October 3rd. National Bankshares set a $46.00 price target on Atlantic Union Bankshares in a research note on Wednesday, September 24th. Finally, Janney Montgomery Scott started coverage on Atlantic Union Bankshares in a research note on Wednesday. They set a “buy” rating and a $42.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $41.56.

Atlantic Union Bankshares Stock Down 7.1%

Shares of AUB opened at $33.51 on Friday. Atlantic Union Bankshares Co. has a 52 week low of $22.85 and a 52 week high of $44.54. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $4.78 billion, a price-to-earnings ratio of 14.63 and a beta of 0.87. The stock’s 50-day moving average price is $34.78 and its 200-day moving average price is $31.58.

Atlantic Union Bankshares (NASDAQ:AUB) last issued its earnings results on Thursday, July 24th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.15. Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%.The firm had revenue of $377.22 million for the quarter, compared to the consensus estimate of $369.70 million. During the same quarter in the prior year, the business earned $0.63 earnings per share. The company’s revenue was up 92.0% compared to the same quarter last year. On average, sell-side analysts predict that Atlantic Union Bankshares Co. will post 3.26 EPS for the current year.

Atlantic Union Bankshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 4th were paid a $0.34 dividend. The ex-dividend date was Monday, August 4th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.1%. Atlantic Union Bankshares’s dividend payout ratio is presently 66.02%.

Insider Transactions at Atlantic Union Bankshares

In related news, Director Frank Russell Ellett bought 1,441 shares of the stock in a transaction dated Friday, August 8th. The shares were purchased at an average price of $31.49 per share, for a total transaction of $45,377.09. Following the completion of the purchase, the director directly owned 78,047 shares of the company’s stock, valued at $2,457,700.03. This represents a 1.88% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John C. Asbury bought 7,500 shares of the stock in a transaction dated Monday, July 28th. The stock was bought at an average price of $32.91 per share, for a total transaction of $246,825.00. Following the purchase, the chief executive officer directly owned 270,532 shares of the company’s stock, valued at approximately $8,903,208.12. The trade was a 2.85% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 18,941 shares of company stock worth $606,502 in the last 90 days. Company insiders own 0.87% of the company’s stock.

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.