Atlantic Union Bankshares Co. (NASDAQ:AUB) Stock Holdings Decreased by Pitcairn Co.

Pitcairn Co. decreased its stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 2.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,206 shares of the company’s stock after selling 539 shares during the period. Pitcairn Co.’s holdings in Atlantic Union Bankshares were worth $799,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Renaissance Technologies LLC bought a new stake in Atlantic Union Bankshares during the second quarter valued at $4,096,000. Bank of New York Mellon Corp grew its position in shares of Atlantic Union Bankshares by 45.3% during 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 last quarter. Natixis Advisors LLC raised its stake in Atlantic Union Bankshares by 24.2% during the third quarter. Natixis Advisors LLC now owns 60,782 shares of the company’s stock worth $2,290,000 after acquiring an additional 11,832 shares during the period. International Assets Investment Management LLC bought a new position in Atlantic Union Bankshares in the third quarter worth about $7,660,000. Finally, Pinnacle Associates Ltd. boosted its stake in Atlantic Union Bankshares by 8.6% in the third quarter. Pinnacle Associates Ltd. now owns 290,468 shares of the company’s stock valued at $10,614,000 after acquiring an additional 23,087 shares during the period. 78.58% of the stock is currently owned by institutional investors and hedge funds.

Atlantic Union Bankshares Stock Up 1.8 %

AUB opened at $42.63 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.90 and a quick ratio of 0.90. Atlantic Union Bankshares Co. has a 12 month low of $30.22 and a 12 month high of $43.57. The stock’s 50 day moving average price is $38.82 and its 200 day moving average price is $36.61. The stock has a market cap of $3.83 billion, a P/E ratio of 14.75 and a beta of 0.89.

Atlantic Union Bankshares (NASDAQ:AUB) last released its quarterly earnings results on Monday, October 21st. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.01. The company had revenue of $358.81 million for the quarter, compared to the consensus estimate 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 previous year, the firm earned $0.80 EPS. As a group, research analysts predict that Atlantic Union Bankshares Co. will post 2.93 earnings per share for the current year.

Atlantic Union Bankshares Increases Dividend

The company 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 is a positive change from Atlantic Union Bankshares’s previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date of this dividend was Friday, November 8th. Atlantic Union Bankshares’s dividend payout ratio (DPR) is presently 56.43%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AUB. Hovde Group dropped their price target on Atlantic Union Bankshares from $46.00 to $45.00 and set an “outperform” rating on the stock in a research report on Friday, September 13th. Raymond James dropped their target price on 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. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Atlantic Union Bankshares from $42.00 to $46.00 and gave the company a “market perform” rating in a report on Friday. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $42.00.

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.