Investment Management of Virginia LLC lessened its position in Atlantic Union Bankshares Co. (NASDAQ:AUB – Get Rating) by 21.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 249,837 shares of the company's stock after selling 66,908 shares during the quarter. Atlantic Union Bankshares makes up 1.6% of Investment Management of Virginia LLC's investment portfolio, making the stock its 12th largest holding. Investment Management of Virginia LLC's holdings in Atlantic Union Bankshares were worth $9,167,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. UMB Bank N A MO purchased a new stake in shares of Atlantic Union Bankshares in the 4th quarter valued at $52,000. Prospera Financial Services Inc purchased a new stake in Atlantic Union Bankshares during the 1st quarter worth about $58,000. First Horizon Advisors Inc. increased its holdings in Atlantic Union Bankshares by 119.3% during the 4th quarter. First Horizon Advisors Inc. now owns 2,322 shares of the company's stock worth $85,000 after purchasing an additional 1,263 shares during the period. Lazard Asset Management LLC increased its holdings in Atlantic Union Bankshares by 24.4% during the 4th quarter. Lazard Asset Management LLC now owns 2,398 shares of the company's stock worth $89,000 after purchasing an additional 471 shares during the period. Finally, Point72 Hong Kong Ltd purchased a new stake in Atlantic Union Bankshares during the 4th quarter worth about $131,000. Hedge funds and other institutional investors own 69.58% of the company's stock.
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Analyst Ratings Changes
Separately, Compass Point cut their price target on Atlantic Union Bankshares to $50.00 in a report on Friday, July 22nd.
Atlantic Union Bankshares Stock Down 1.6 %
NASDAQ AUB traded down $0.54 during trading hours on Wednesday, hitting $33.82. 2,780 shares of the company were exchanged, compared to its average volume of 256,257. The company has a 50 day moving average of $33.97 and a two-hundred day moving average of $35.89. The firm has a market cap of $2.54 billion, a price-to-earnings ratio of 11.72 and a beta of 1.07. Atlantic Union Bankshares Co. has a 52-week low of $31.44 and a 52-week high of $42.67. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.16.
Atlantic Union Bankshares (NASDAQ:AUB – Get Rating) last released its quarterly earnings data on Thursday, July 21st. The company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.08. Atlantic Union Bankshares had a return on equity of 9.08% and a net margin of 31.89%. During the same quarter in the previous year, the company posted $1.05 earnings per share.
Atlantic Union Bankshares Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 26th. Stockholders of record on Friday, August 12th will be given a dividend of $0.30 per share. This is a boost from Atlantic Union Bankshares's previous quarterly dividend of $0.28. This represents a $1.20 annualized dividend and a dividend yield of 3.55%. The ex-dividend date of this dividend is Thursday, August 11th. Atlantic Union Bankshares's dividend payout ratio is currently 41.96%.
Insider Transactions at Atlantic Union Bankshares
In other news, Director Ronald L. Tillett sold 2,500 shares of the company's stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $34.48, for a total transaction of $86,200.00. Following the completion of the transaction, the director now directly owns 27,482 shares of the company's stock, valued at approximately $947,579.36. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.01% of the company's stock.
Atlantic Union Bankshares Company Profile
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Atlantic Union Bankshares Corporation operates as the holding company for Atlantic Union Bank that provides banking and related financial services to consumers and businesses. The company accepts various deposit products, including checking, savings, NOW, time deposit, and money market accounts; certificates of deposit; and other depository services.
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