Heritage Investors Management Corp Makes New Investment in Atlantic Union Bankshares Co. $AUB

Heritage Investors Management Corp bought a new position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,504 shares of the company’s stock, valued at approximately $235,000.

A number of other large investors have also made changes to their positions in the business. Xponance Inc. lifted its holdings in shares of 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 during the last quarter. Corebridge Financial Inc. lifted its holdings in shares of 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 during the last quarter. CWM LLC lifted its holdings in shares of 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 during the last quarter. OneDigital Investment Advisors LLC lifted its holdings in shares of Atlantic Union Bankshares by 8.7% during the 1st quarter. OneDigital Investment Advisors LLC now owns 6,619 shares of the company’s stock valued at $206,000 after purchasing an additional 527 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Atlantic Union Bankshares by 3.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 19,130 shares of the company’s stock valued at $596,000 after purchasing an additional 614 shares during the last quarter. 78.58% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AUB has been the subject of several analyst reports. Janney Montgomery Scott initiated coverage on Atlantic Union Bankshares in a report on Wednesday, October 8th. They set a “buy” rating and a $42.00 price objective for the company. TD Cowen decreased their price objective on Atlantic Union Bankshares from $46.00 to $44.00 and set a “buy” rating for the company in a report on Monday. Piper Sandler decreased their price objective on Atlantic Union Bankshares from $45.00 to $41.50 and set an “overweight” rating for the company in a report on Friday, October 24th. Cowen restated a “buy” rating on shares of Atlantic Union Bankshares in a research note on Monday. Finally, Morgan Stanley raised their target price on Atlantic Union Bankshares from $35.00 to $41.00 and gave the stock an “underperform” rating in a research note on Monday, September 29th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Atlantic Union Bankshares currently has an average rating of “Moderate Buy” and a consensus price target of $40.61.

Insider Buying and Selling at Atlantic Union Bankshares

In related news, Director Frank Russell Ellett acquired 5,000 shares of Atlantic Union Bankshares stock in a transaction on Thursday, August 7th. The stock was acquired at an average price of $31.54 per share, for a total transaction of $157,700.00. Following the purchase, the director owned 76,606 shares of the company’s stock, valued at approximately $2,416,153.24. This represents a 6.98% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders bought 11,441 shares of company stock worth $359,677. Company insiders own 1.16% of the company’s stock.

Atlantic Union Bankshares Stock Performance

Shares of AUB stock opened at $32.43 on Friday. Atlantic Union Bankshares Co. has a 1 year low of $22.85 and a 1 year high of $44.54. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market capitalization of $4.62 billion, a price-to-earnings ratio of 14.16 and a beta of 0.87. The business has a fifty day moving average of $35.07 and a 200 day moving average of $32.22.

Atlantic Union Bankshares (NASDAQ:AUB) last posted its quarterly earnings results on Thursday, October 23rd. The company reported $0.84 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.02). The business had revenue of $319.21 million during the quarter, compared to analysts’ expectations of $377.92 million. Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.50%. Atlantic Union Bankshares’s revenue for the quarter was up 69.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.83 earnings per share. As a group, research analysts expect that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current year.

Atlantic Union Bankshares Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date is Friday, November 14th. This is an increase from Atlantic Union Bankshares’s previous quarterly dividend of $0.34. Atlantic Union Bankshares’s dividend payout ratio (DPR) is 72.73%.

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.