Trust Point Inc. Boosts Stock Holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Trust Point Inc. increased its holdings in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 2.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 25,998 shares of the company’s stock after purchasing an additional 513 shares during the period. Trust Point Inc.’s holdings in Atlantic Union Bankshares were worth $979,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in AUB. Dimensional Fund Advisors LP increased its holdings in shares of Atlantic Union Bankshares by 13.8% during the second quarter. Dimensional Fund Advisors LP now owns 5,681,290 shares of the company’s stock valued at $186,626,000 after acquiring an additional 690,400 shares in the last quarter. Westwood Holdings Group Inc. boosted its position in Atlantic Union Bankshares by 19.0% in the first quarter. Westwood Holdings Group Inc. now owns 2,627,756 shares of the company’s stock valued at $92,786,000 after buying an additional 419,793 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in 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 worth $38,770,000 after buying an additional 368,190 shares during the period. Atlantic Union Bankshares Corp raised its position in Atlantic Union Bankshares by 64.6% during the 2nd quarter. Atlantic Union Bankshares Corp now owns 458,689 shares of the company’s stock worth $15,066,000 after buying an additional 179,951 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in Atlantic Union Bankshares by 19.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 971,363 shares of the company’s stock valued at $35,494,000 after acquiring an additional 161,479 shares during the period. 78.58% of the stock is currently owned by hedge funds and other institutional investors.

Atlantic Union Bankshares Price Performance

AUB traded down $0.60 during trading on Friday, hitting $38.95. The company’s stock had a trading volume of 43,216 shares, compared to its average volume of 412,344. The firm has a market capitalization of $3.50 billion, a price-to-earnings ratio of 14.42 and a beta of 0.89. Atlantic Union Bankshares Co. has a twelve month low of $26.91 and a twelve month high of $42.50. The business’s fifty day simple moving average is $37.76 and its 200 day simple moving average is $35.31. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.14.

Atlantic Union Bankshares (NASDAQ:AUB) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.05). The company had revenue of $212.20 million during the quarter, compared to analyst estimates of $216.03 million. Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.95%. Atlantic Union Bankshares’s revenue was up 17.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.74 EPS. On average, equities research analysts forecast 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. Investors of record on Friday, August 9th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.28 annualized dividend and a dividend yield of 3.29%. Atlantic Union Bankshares’s dividend payout ratio (DPR) is presently 47.06%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AUB. Keefe, Bruyette & Woods boosted their price objective on Atlantic Union Bankshares from $35.00 to $38.00 and gave the company a “market perform” rating in a report on Monday, July 29th. Hovde Group decreased 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. Finally, Raymond James cut their target price on shares of Atlantic Union Bankshares from $45.00 to $41.00 and set an “outperform” rating for the company in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $40.40.

About Atlantic Union Bankshares

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.