Wilmington Savings Fund Society FSB Takes $121,000 Position in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Wilmington Savings Fund Society FSB 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 Securities and Exchange Commission. The firm acquired 3,203 shares of the company’s stock, valued at approximately $121,000.

Other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP lifted its stake in 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 worth $186,626,000 after purchasing an additional 690,400 shares during the period. State Street Corp raised its holdings in shares of Atlantic Union Bankshares by 3.0% in the 3rd quarter. State Street Corp now owns 4,492,014 shares of the company’s stock worth $169,214,000 after buying an additional 130,104 shares in the last quarter. Westwood Holdings Group Inc. lifted its position in shares of Atlantic Union Bankshares by 1.2% during the 2nd quarter. Westwood Holdings Group Inc. now owns 2,658,342 shares of the company’s stock worth $87,327,000 after buying an additional 30,586 shares during the period. Geode Capital Management LLC boosted its stake in Atlantic Union Bankshares by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,065,862 shares of the company’s stock valued at $77,836,000 after buying an additional 14,823 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in 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 in the last quarter. 78.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Hovde Group cut their price objective 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 increased their target price on shares of Atlantic Union Bankshares from $42.00 to $46.00 and gave the stock a “market perform” rating in a research report on Friday, November 22nd. Finally, Raymond James reduced their price target on shares of Atlantic Union Bankshares from $45.00 to $41.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Atlantic Union Bankshares presently has a consensus rating of “Moderate Buy” and an average price target of $42.00.

Atlantic Union Bankshares Stock Performance

Shares of NASDAQ:AUB opened at $37.15 on Friday. The business has a fifty day moving average of $40.41 and a 200-day moving average of $37.66. The firm has a market cap of $3.34 billion, a PE ratio of 15.42 and a beta of 0.91. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.90 and a current ratio of 0.90. Atlantic Union Bankshares Co. has a twelve month low of $30.43 and a twelve month high of $44.54.

Atlantic Union Bankshares (NASDAQ:AUB) last announced its earnings results on Monday, October 21st. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.01. Atlantic Union Bankshares had a net margin of 16.25% and a return on equity of 8.85%. The company had revenue of $358.81 million during the quarter, compared to the consensus estimate of $226.70 million. During the same period in the previous year, the firm posted $0.80 earnings per share. On average, equities research analysts predict that Atlantic Union Bankshares Co. will post 2.93 EPS for the current fiscal year.

Atlantic Union Bankshares Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were issued a dividend of $0.34 per share. This is an increase from Atlantic Union Bankshares’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.36 annualized dividend and a yield of 3.66%. Atlantic Union Bankshares’s dividend payout ratio is currently 56.43%.

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.