Heritage Family Offices LLP Makes New Investment in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Heritage Family Offices LLP acquired a new position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 5,942 shares of the company’s stock, valued at approximately $224,000.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Atlantic Union Bankshares by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 9,290,826 shares of the company’s stock valued at $339,487,000 after buying an additional 111,580 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Atlantic Union Bankshares by 13.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,681,290 shares of the company’s stock valued at $186,626,000 after buying an additional 690,400 shares during the period. Westwood Holdings Group Inc. lifted its holdings in shares of Atlantic Union Bankshares by 1.2% in the 2nd quarter. Westwood Holdings Group Inc. now owns 2,658,342 shares of the company’s stock valued at $87,327,000 after buying an additional 30,586 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Atlantic Union Bankshares by 8.8% in the 2nd quarter. Victory Capital Management Inc. now owns 1,595,728 shares of the company’s stock valued at $52,420,000 after buying an additional 128,447 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Atlantic Union Bankshares by 45.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,180,199 shares of the company’s stock valued at $38,770,000 after buying an additional 368,190 shares during the period. 78.58% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on the company. Hovde Group reduced their price target on Atlantic Union Bankshares from $46.00 to $45.00 and set an “outperform” rating for the company in a report on Friday, September 13th. Keefe, Bruyette & Woods raised their price objective on Atlantic Union Bankshares from $35.00 to $38.00 and gave the company a “market perform” rating in a research note on Monday, July 29th. Finally, Raymond James dropped their price objective on Atlantic Union Bankshares from $45.00 to $41.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $40.40.

Atlantic Union Bankshares Stock Performance

Atlantic Union Bankshares stock opened at $39.36 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a fifty day moving average of $37.70 and a two-hundred day moving average of $35.28. The company has a market capitalization of $3.53 billion, a price-to-earnings ratio of 17.34 and a beta of 0.89. Atlantic Union Bankshares Co. has a fifty-two week low of $26.91 and a fifty-two week high of $42.50.

Atlantic Union Bankshares (NASDAQ:AUB) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.05). The company had revenue of $212.20 million for the quarter, compared to analysts’ expectations of $216.03 million. Atlantic Union Bankshares had a return on equity of 8.95% and a net margin of 15.53%. The business’s quarterly revenue was up 17.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.74 EPS. On average, analysts anticipate that Atlantic Union Bankshares Co. will post 3.01 EPS for the current fiscal year.

Atlantic Union Bankshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 3.25%. The ex-dividend date was Friday, August 9th. Atlantic Union Bankshares’s payout ratio is 56.39%.

Atlantic Union Bankshares Profile

Atlantic Union Bankshares Corporation operates as the bank holding company for Atlantic Union Bank that provides banking and related financial products and services to consumers and businesses in the United States. It operates in two segments, Wholesale Banking and Consumer Banking. The company accepts various deposit products, including checking, savings, time deposit, and money market accounts; certificates of deposit; and other depository services.