Chevy Chase Trust Holdings LLC Acquires Shares of 89,983 Atlantic Union Bankshares Co. $AUB

Chevy Chase Trust Holdings LLC acquired a new stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 89,983 shares of the company’s stock, valued at approximately $2,815,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Xponance Inc. increased its stake in Atlantic Union Bankshares by 5.8% during the 1st quarter. Xponance Inc. now owns 6,798 shares of the company’s stock valued at $212,000 after purchasing an additional 374 shares in the last quarter. Corebridge Financial Inc. increased its stake in Atlantic Union Bankshares by 0.8% during the 1st quarter. Corebridge Financial Inc. now owns 48,026 shares of the company’s stock valued at $1,496,000 after purchasing an additional 396 shares in the last quarter. CWM LLC increased its stake 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 purchasing an additional 523 shares in the last quarter. OneDigital Investment Advisors LLC grew its stake in shares of Atlantic Union Bankshares by 8.7% in the first quarter. OneDigital Investment Advisors LLC now owns 6,619 shares of the company’s stock worth $206,000 after acquiring an additional 527 shares during the period. Finally, Oppenheimer Asset Management Inc. grew its stake in shares of Atlantic Union Bankshares by 1.9% in the first quarter. Oppenheimer Asset Management Inc. now owns 30,755 shares of the company’s stock worth $958,000 after acquiring an additional 575 shares during the period. 78.58% of the stock is currently owned by institutional investors.

Atlantic Union Bankshares Stock Performance

AUB opened at $34.38 on Tuesday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.13. The company has a market cap of $4.90 billion, a price-to-earnings ratio of 15.01 and a beta of 0.87. The company’s 50 day moving average is $35.11 and its 200 day moving average is $31.79. Atlantic Union Bankshares Co. has a 12-month low of $22.85 and a 12-month high of $44.54.

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

Atlantic Union Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 4th were issued a $0.34 dividend. The ex-dividend date of this dividend was Monday, August 4th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.0%. Atlantic Union Bankshares’s dividend payout ratio (DPR) is presently 66.02%.

Insider Buying and Selling

In other Atlantic Union Bankshares news, Director Frank Russell Ellett acquired 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 7th. The shares were bought at an average price of $31.54 per share, with a total value of $157,700.00. Following the completion of the acquisition, the director owned 76,606 shares in the company, valued at $2,416,153.24. This represents a 6.98% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John C. Asbury purchased 7,500 shares of the stock in a transaction on Monday, July 28th. The shares were purchased at an average cost of $32.91 per share, for a total transaction of $246,825.00. Following the acquisition, the chief executive officer directly owned 270,532 shares of the company’s stock, valued at approximately $8,903,208.12. This represents a 2.85% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders purchased 18,941 shares of company stock worth $606,502. 0.87% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

AUB has been the subject of a number of research analyst reports. Morgan Stanley lifted their price target on shares of Atlantic Union Bankshares from $35.00 to $41.00 and gave the stock an “underperform” rating in a research note on Monday, September 29th. TD Cowen initiated coverage on shares of Atlantic Union Bankshares in a research note on Thursday, September 25th. They issued a “buy” rating and a $46.00 price target for the company. Raymond James Financial reiterated a “strong-buy” rating and issued a $43.00 price target (up from $42.00) on shares of Atlantic Union Bankshares in a research note on Friday, October 3rd. Keefe, Bruyette & Woods lifted their price target on shares of Atlantic Union Bankshares from $33.00 to $34.00 and gave the stock a “market perform” rating in a research note on Monday, August 4th. Finally, National Bankshares set a $46.00 price target on shares of Atlantic Union Bankshares in a research note on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $41.56.

Atlantic Union Bankshares 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.