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Short Interest in Atlantic Union Bankshares Co. (NASDAQ:AUB) Declines By 7.2%

kopsource · Sep 1, 2022 08:02

Atlantic Union Bankshares Co. (NASDAQ:AUB – Get Rating) saw a significant decline in short interest in the month of August. As of August 15th, there was short interest totalling 1,540,000 shares, a decline of 7.2% from the July 31st total of 1,660,000 shares. Based on an average daily trading volume, of 305,800 shares, the days-to-cover ratio is presently 5.0 days. Currently, 2.1% of the shares of the company are short sold.

Atlantic Union Bankshares Trading Down 1.2 %

Shares of AUB opened at $32.45 on Thursday. Atlantic Union Bankshares has a twelve month low of $31.44 and a twelve month high of $42.67. The company has a market cap of $2.43 billion, a P/E ratio of 11.35 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. The company's fifty day simple moving average is $34.04 and its 200-day simple moving average is $35.62.

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Atlantic Union Bankshares (NASDAQ:AUB – Get Rating) last announced its earnings results on Thursday, July 21st. The company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.08. Atlantic Union Bankshares had a net margin of 31.89% and a return on equity of 9.08%. During the same period in the prior year, the company earned $1.05 EPS.

Atlantic Union Bankshares Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 26th. Stockholders of record on Friday, August 12th were issued a $0.30 dividend. The ex-dividend date was Thursday, August 11th. This is a boost from Atlantic Union Bankshares's previous quarterly dividend of $0.28. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.70%. Atlantic Union Bankshares's dividend payout ratio is presently 41.96%.

Analysts Set New Price Targets

Separately, Compass Point lowered their target price on shares of Atlantic Union Bankshares to $50.00 in a report on Friday, July 22nd.

Insider Activity at Atlantic Union Bankshares

In other Atlantic Union Bankshares news, Director Ronald L. Tillett sold 2,500 shares of the company's stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $34.48, for a total value of $86,200.00. Following the completion of the transaction, the director now directly owns 27,482 shares in the company, valued at $947,579.36. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.01% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Covestor Ltd grew its holdings in Atlantic Union Bankshares by 78.0% during the 1st quarter. Covestor Ltd now owns 826 shares of the company's stock worth $30,000 after acquiring an additional 362 shares in the last quarter. UMB Bank N A MO bought a new position in Atlantic Union Bankshares during the 4th quarter worth about $52,000. Prospera Financial Services Inc bought a new position in Atlantic Union Bankshares during the 1st quarter worth about $58,000. Quantbot Technologies LP bought a new position in Atlantic Union Bankshares during the 2nd quarter worth about $64,000. Finally, First Horizon Advisors Inc. grew its holdings in Atlantic Union Bankshares by 191.7% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,226 shares of the company's stock worth $75,000 after acquiring an additional 1,463 shares in the last quarter. 69.95% of the stock is currently owned by institutional investors.

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.