Elevation Point Wealth Partners LLC Acquires New Holdings in Atlantic Union Bankshares Co. $AUB

Elevation Point Wealth Partners LLC bought a new position in shares of Atlantic Union Bankshares Co. (NYSE:AUB) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 16,053 shares of the company’s stock, valued at approximately $574,000.

Several other institutional investors and hedge funds have also bought and sold shares of AUB. State Street Corp boosted its holdings in Atlantic Union Bankshares by 24.5% in the 2nd quarter. State Street Corp now owns 7,400,456 shares of the company’s stock valued at $231,486,000 after purchasing an additional 1,457,647 shares during the period. North Reef Capital Management LP increased its holdings in shares of Atlantic Union Bankshares by 23.1% in the fourth quarter. North Reef Capital Management LP now owns 4,572,090 shares of the company’s stock worth $161,395,000 after purchasing an additional 858,486 shares during the period. T. Rowe Price Investment Management Inc. purchased a new stake in shares of Atlantic Union Bankshares in the fourth quarter worth $87,022,000. Goldman Sachs Group Inc. raised its position in shares of Atlantic Union Bankshares by 36.0% in the first quarter. Goldman Sachs Group Inc. now owns 2,137,072 shares of the company’s stock worth $66,548,000 after buying an additional 565,564 shares in the last quarter. Finally, Congress Asset Management Co. boosted its stake in Atlantic Union Bankshares by 4.7% during the fourth quarter. Congress Asset Management Co. now owns 1,964,949 shares of the company’s stock valued at $69,363,000 after buying an additional 87,761 shares during the period. 78.58% of the stock is currently owned by hedge funds and other institutional investors.

Atlantic Union Bankshares Price Performance

AUB opened at $41.64 on Wednesday. The stock has a 50-day moving average price of $38.80 and a 200-day moving average price of $37.95. Atlantic Union Bankshares Co. has a 12-month low of $30.39 and a 12-month high of $43.62. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $5.96 billion, a P/E ratio of 17.64 and a beta of 0.79.

Atlantic Union Bankshares (NYSE:AUB) last announced its quarterly earnings data on Tuesday, April 21st. The company reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.03). The firm had revenue of $371.71 million for the quarter, compared to analysts’ expectations of $391.24 million. Atlantic Union Bankshares had a net margin of 15.50% and a return on equity of 10.74%. During the same period in the prior year, the business posted $0.90 earnings per share. Equities analysts predict that Atlantic Union Bankshares Co. will post 3.78 earnings per share for the current fiscal year.

Atlantic Union Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 22nd were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Friday, May 22nd. Atlantic Union Bankshares’s dividend payout ratio (DPR) is presently 62.71%.

Insider Activity at Atlantic Union Bankshares

In other Atlantic Union Bankshares news, Director Nancy H. Agee purchased 650 shares of the firm’s stock in a transaction on Monday, April 20th. The shares were purchased at an average cost of $39.05 per share, with a total value of $25,382.50. Following the completion of the purchase, the director owned 37,797 shares of the company’s stock, valued at $1,475,972.85. The trade was a 1.75% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.96% of the company’s stock.

Wall Street Analyst Weigh In

AUB has been the subject of several recent analyst reports. Morgan Stanley boosted their target price on Atlantic Union Bankshares from $42.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. Piper Sandler lifted their price target on Atlantic Union Bankshares from $45.00 to $46.00 and gave the company an “overweight” rating in a research report on Thursday, June 11th. Zacks Research lowered Atlantic Union Bankshares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. Weiss Ratings assumed coverage on shares of Atlantic Union Bankshares in a research report on Monday. They issued a “buy (b-)” rating on the stock. Finally, Stephens reaffirmed an “overweight” rating and issued a $46.00 target price on shares of Atlantic Union Bankshares in a research note on Thursday, June 11th. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.62.

Atlantic Union Bankshares Company 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.