Peregrine Capital Management LLC Reduces Stake in Atlantic Union Bankshares Co. $AUB

Peregrine Capital Management LLC lessened its holdings in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 8.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 151,340 shares of the company’s stock after selling 14,643 shares during the period. Peregrine Capital Management LLC owned 0.11% of Atlantic Union Bankshares worth $5,409,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. IFP Advisors Inc raised its holdings in Atlantic Union Bankshares by 362.5% during the fourth quarter. IFP Advisors Inc now owns 740 shares of the company’s stock worth $26,000 after purchasing an additional 580 shares in the last quarter. Commonwealth Retirement Investments LLC acquired a new position in shares of Atlantic Union Bankshares in the 4th quarter valued at $39,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Atlantic Union Bankshares by 504.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,542 shares of the company’s stock valued at $48,000 after buying an additional 1,287 shares in the last quarter. Farther Finance Advisors LLC grew its position in shares of Atlantic Union Bankshares by 138.9% in the 4th quarter. Farther Finance Advisors LLC now owns 2,064 shares of the company’s stock valued at $73,000 after buying an additional 1,200 shares during the last quarter. Finally, Johnson Financial Group Inc. purchased a new position in shares of Atlantic Union Bankshares in the 3rd quarter valued at $77,000. Hedge funds and other institutional investors own 78.58% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. TD Cowen boosted their price target on shares of Atlantic Union Bankshares from $44.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Morgan Stanley raised their price objective on Atlantic Union Bankshares from $42.00 to $45.00 and gave the stock an “equal weight” rating in a report on Monday. Zacks Research cut Atlantic Union Bankshares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Piper Sandler boosted their target price on Atlantic Union Bankshares from $45.00 to $46.00 and gave the company an “overweight” rating in a report on Thursday, June 11th. Finally, Stephens reissued an “overweight” rating and issued a $46.00 target price on shares of Atlantic Union Bankshares in a research report on Thursday, June 11th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $43.62.

Atlantic Union Bankshares Trading Up 2.2%

Shares of Atlantic Union Bankshares stock opened at $43.23 on Thursday. Atlantic Union Bankshares Co. has a 1 year low of $30.39 and a 1 year high of $43.62. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market capitalization of $6.19 billion, a P/E ratio of 18.88 and a beta of 0.80. The company’s fifty day moving average is $38.43 and its two-hundred day moving average is $37.80.

Atlantic Union Bankshares (NASDAQ:AUB) last announced its earnings results on Tuesday, April 21st. The company reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.03). Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.50%. The business had revenue of $371.71 million during the quarter, compared to analysts’ expectations of $391.24 million. During the same period in the previous year, the company posted $0.90 earnings per share. Analysts forecast that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current year.

Atlantic Union Bankshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.4%. The ex-dividend date was Friday, May 22nd. Atlantic Union Bankshares’s payout ratio is 62.71%.

Insider Buying and Selling

In related news, Director Nancy H. Agee acquired 650 shares of Atlantic Union Bankshares stock in a transaction on Monday, April 20th. The stock was purchased at an average cost of $39.05 per share, with a total value of $25,382.50. Following the purchase, the director directly owned 37,797 shares in the company, valued at approximately $1,475,972.85. The trade was a 1.75% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.96% of the stock is currently owned by corporate insiders.

About Atlantic Union Bankshares

Atlantic Union Bankshares, Inc is a bank holding company headquartered in Richmond, Virginia, operating through its principal subsidiary Atlantic Union Bank. The company offers a full suite of commercial and consumer banking services to individuals, businesses and institutions across Virginia, Maryland, North Carolina and the District of Columbia. Leveraging a network of full-service branches, commercial lending offices and digital platforms, Atlantic Union Bankshares focuses on relationship-driven solutions tailored to its regional client base.

Atlantic Union’s product lineup includes traditional deposit accounts, such as checking, savings and money market accounts, along with certificates of deposit.