Oliver Luxxe Assets LLC Sells 29,743 Shares of Atlantic Union Bankshares Co. $AUB

Oliver Luxxe Assets LLC decreased its stake in shares of Atlantic Union Bankshares Co. (NYSE:AUB) by 46.2% during the second quarter, HoldingsChannel.com reports. The fund owned 34,599 shares of the company’s stock after selling 29,743 shares during the period. Oliver Luxxe Assets LLC’s holdings in Atlantic Union Bankshares were worth $1,464,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in AUB. Hennion & Walsh Asset Management Inc. lifted its holdings in Atlantic Union Bankshares by 14.0% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 9,219 shares of the company’s stock worth $390,000 after purchasing an additional 1,132 shares during the last quarter. GAMMA Investing LLC grew its holdings in Atlantic Union Bankshares by 12.3% during the second quarter. GAMMA Investing LLC now owns 7,477 shares of the company’s stock valued at $316,000 after purchasing an additional 820 shares during the last quarter. Versant Capital Management Inc grew its holdings in Atlantic Union Bankshares by 37.1% during the second quarter. Versant Capital Management Inc now owns 3,939 shares of the company’s stock valued at $167,000 after purchasing an additional 1,066 shares during the last quarter. Empowered Funds LLC acquired a new position in Atlantic Union Bankshares during the first quarter valued at approximately $209,000. Finally, NewEdge Advisors LLC raised its position in shares of Atlantic Union Bankshares by 13.8% in the first quarter. NewEdge Advisors LLC now owns 16,520 shares of the company’s stock valued at $590,000 after purchasing an additional 1,999 shares during the period. 78.58% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Stephens restated an “overweight” rating and issued a $46.00 price objective on shares of Atlantic Union Bankshares in a research note on Thursday, June 11th. TD Cowen raised their target price on shares of Atlantic Union Bankshares from $46.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Weiss Ratings initiated coverage on shares of Atlantic Union Bankshares in a report on Monday, July 6th. They issued a “buy (b-)” rating on the stock. Piper Sandler reissued an “overweight” rating and set a $47.00 target price on shares of Atlantic Union Bankshares in a research report on Wednesday, July 22nd. Finally, Morgan Stanley upped their price target on shares of Atlantic Union Bankshares from $42.00 to $45.00 and gave the company an “equal weight” rating in a report on Monday, June 29th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $45.57.

Atlantic Union Bankshares Stock Down 0.0%

Shares of AUB stock opened at $41.76 on Monday. Atlantic Union Bankshares Co. has a 12 month low of $30.87 and a 12 month high of $43.62. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.15. The firm has a market cap of $5.98 billion, a PE ratio of 12.47 and a beta of 0.79. The stock has a 50 day moving average of $41.03 and a 200-day moving average of $38.86.

Atlantic Union Bankshares (NYSE:AUB) last announced its quarterly earnings data on Tuesday, July 21st. The company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.02. Atlantic Union Bankshares had a net margin of 21.97% and a return on equity of 10.55%. The business had revenue of $387.57 million for the quarter, compared to the consensus estimate of $389.06 million. During the same quarter last year, the company posted $0.95 earnings per share. Atlantic Union Bankshares’s quarterly revenue was up 3.1% on a year-over-year basis. On average, equities analysts predict that Atlantic Union Bankshares Co. will post 3.76 EPS for the current year.

Atlantic Union Bankshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Friday, August 7th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.5%. The ex-dividend date is Friday, August 7th. Atlantic Union Bankshares’s dividend payout ratio (DPR) is currently 44.18%.

Atlantic Union Bankshares Profile

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.