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Verition Fund Management LLC Invests $201,000 in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Defense World · Sep 27, 2022 04:12

Verition Fund Management LLC purchased a new position in Atlantic Union Bankshares Co. (NASDAQ:AUB – Get Rating) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,491 shares of the company's stock, valued at approximately $201,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Atlantic Union Bankshares by 0.6% during the first quarter. Vanguard Group Inc. now owns 7,593,445 shares of the company's stock worth $278,604,000 after purchasing an additional 44,788 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Atlantic Union Bankshares by 1.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,659,886 shares of the company's stock worth $170,973,000 after buying an additional 58,055 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Atlantic Union Bankshares by 10.9% in the 1st quarter. Wellington Management Group LLP now owns 4,270,344 shares of the company's stock valued at $156,679,000 after buying an additional 419,845 shares in the last quarter. State Street Corp grew its position in shares of Atlantic Union Bankshares by 14.6% in the 1st quarter. State Street Corp now owns 2,723,674 shares of the company's stock valued at $99,932,000 after buying an additional 347,300 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Atlantic Union Bankshares by 0.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,108,328 shares of the company's stock valued at $78,620,000 after buying an additional 5,710 shares during the last quarter. Institutional investors and hedge funds own 69.95% of the company's stock.

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Insider Buying and Selling at Atlantic Union Bankshares

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

Atlantic Union Bankshares Stock Performance

Shares of Atlantic Union Bankshares stock opened at $32.20 on Tuesday. The firm's fifty day simple moving average is $33.82 and its 200-day simple moving average is $34.70. Atlantic Union Bankshares Co. has a 12 month low of $31.44 and a 12 month high of $42.67. The stock has a market capitalization of $2.42 billion, a price-to-earnings ratio of 11.26 and a beta of 1.07. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.83 and a quick ratio of 0.83.

Atlantic Union Bankshares (NASDAQ:AUB – Get Rating) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.69 earnings per share for the quarter. The company had revenue of $180.63 million for the quarter, compared to analyst estimates of $172.93 million. 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 earned $1.05 EPS.

Atlantic Union Bankshares Increases Dividend

The firm also recently disclosed 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 3.73%. This is a boost from Atlantic Union Bankshares's previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Thursday, August 11th. Atlantic Union Bankshares's dividend payout ratio (DPR) is 41.96%.

Analyst Ratings Changes

Separately, Compass Point decreased their price objective on shares of Atlantic Union Bankshares to $50.00 in a research note on Friday, July 22nd.

About Atlantic Union Bankshares

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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.