Handelsbanken Fonder AB lowered its stake in Atlantic Union Bankshares Co. (NASDAQ:AUB – Get Rating) by 3.2% during the first quarter, Holdings Channel reports. The firm owned 18,416 shares of the company's stock after selling 600 shares during the period. Handelsbanken Fonder AB's holdings in Atlantic Union Bankshares were worth $676,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the stock. Goldman Sachs Group Inc. increased its position in shares of Atlantic Union Bankshares by 0.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,108,328 shares of the company's stock worth $78,620,000 after purchasing an additional 5,710 shares during the period. GW&K Investment Management LLC boosted its stake in Atlantic Union Bankshares by 2.9% in the first quarter. GW&K Investment Management LLC now owns 1,570,495 shares of the company's stock valued at $57,621,000 after buying an additional 44,901 shares in the last quarter. Geode Capital Management LLC boosted its stake in Atlantic Union Bankshares by 5.1% in the fourth quarter. Geode Capital Management LLC now owns 1,343,240 shares of the company's stock valued at $50,089,000 after buying an additional 64,913 shares in the last quarter. William Blair Investment Management LLC boosted its stake in Atlantic Union Bankshares by 24.1% in the fourth quarter. William Blair Investment Management LLC now owns 1,085,231 shares of the company's stock valued at $40,468,000 after buying an additional 211,005 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in Atlantic Union Bankshares by 211.4% in the first quarter. Victory Capital Management Inc. now owns 1,071,872 shares of the company's stock valued at $39,264,000 after buying an additional 727,704 shares in the last quarter. Institutional investors own 69.95% of the company's stock.
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Atlantic Union Bankshares Stock Performance
Shares of AUB stock opened at $32.84 on Wednesday. The business's 50-day moving average price is $34.05 and its 200-day moving average price is $35.64. Atlantic Union Bankshares Co. has a 12 month low of $31.44 and a 12 month high of $42.67. The firm has a market capitalization of $2.46 billion, a price-to-earnings ratio of 11.48 and a beta of 1.07. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.16.
Atlantic Union Bankshares (NASDAQ:AUB – Get Rating) last announced its quarterly earnings results on Thursday, July 21st. The company reported $0.79 EPS for the quarter, beating analysts' consensus estimates 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 last year, the business earned $1.05 EPS.
Atlantic Union Bankshares Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, August 26th. Stockholders of record on Friday, August 12th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.65%. This is a positive change from Atlantic Union Bankshares's previous quarterly dividend of $0.28. The ex-dividend date was Thursday, August 11th. Atlantic Union Bankshares's dividend payout ratio (DPR) is presently 41.96%.
Wall Street Analyst Weigh In
Separately, Compass Point reduced their price objective on Atlantic Union Bankshares to $50.00 in a research note on Friday, July 22nd.
Insider Activity
In related news, Director Ronald L. Tillett sold 2,500 shares of Atlantic Union Bankshares stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $34.48, for a total value of $86,200.00. Following the transaction, the director now directly owns 27,482 shares of the company's stock, valued at $947,579.36. The transaction was disclosed in a legal filing with the SEC, which is available through 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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