Oliver Luxxe Assets LLC Boosts Stock Holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Oliver Luxxe Assets LLC raised its holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 4.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 69,138 shares of the company’s stock after purchasing an additional 2,731 shares during the quarter. Oliver Luxxe Assets LLC’s holdings in Atlantic Union Bankshares were worth $2,619,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AUB. Nomura Asset Management Co. Ltd. boosted its stake in shares of Atlantic Union Bankshares by 78.8% in the third quarter. Nomura Asset Management Co. Ltd. now owns 930 shares of the company’s stock valued at $35,000 after buying an additional 410 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Atlantic Union Bankshares by 88.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,041 shares of the company’s stock worth $39,000 after purchasing an additional 489 shares during the period. UMB Bank n.a. increased its holdings in shares of Atlantic Union Bankshares by 77.7% in the 3rd quarter. UMB Bank n.a. now owns 1,105 shares of the company’s stock valued at $42,000 after purchasing an additional 483 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of Atlantic Union Bankshares in the third quarter valued at about $56,000. Finally, Blue Trust Inc. lifted its stake in shares of Atlantic Union Bankshares by 110.2% in the third quarter. Blue Trust Inc. now owns 2,089 shares of the company’s stock valued at $79,000 after purchasing an additional 1,095 shares during the period. Institutional investors and hedge funds own 78.58% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on AUB. Hovde Group dropped their target price on shares of 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 lifted their price objective on Atlantic Union Bankshares from $42.00 to $46.00 and gave the stock a “market perform” rating in a report on Friday, November 22nd. Finally, Raymond James lowered their target price on Atlantic Union Bankshares from $45.00 to $41.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $42.00.

Atlantic Union Bankshares Price Performance

Shares of NASDAQ AUB traded down $0.26 during trading on Monday, reaching $36.96. The company had a trading volume of 310,170 shares, compared to its average volume of 477,139. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $3.32 billion, a PE ratio of 15.34 and a beta of 0.93. Atlantic Union Bankshares Co. has a twelve month low of $30.43 and a twelve month high of $44.54. The stock has a 50-day moving average price of $40.42 and a two-hundred day moving average price of $38.25.

Atlantic Union Bankshares (NASDAQ:AUB) last released its earnings results on Monday, October 21st. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.01. The company had revenue of $358.81 million for the quarter, compared to analyst estimates of $226.70 million. Atlantic Union Bankshares had a net margin of 16.25% and a return on equity of 8.85%. During the same period in the prior year, the firm earned $0.80 EPS. As a group, sell-side analysts predict that Atlantic Union Bankshares Co. will post 2.93 earnings per share for the current year.

Atlantic Union Bankshares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date of this dividend was Friday, November 8th. This is a positive change from Atlantic Union Bankshares’s previous quarterly dividend of $0.32. Atlantic Union Bankshares’s dividend payout ratio is currently 56.43%.

Atlantic Union Bankshares Company 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.