Jennison Associates LLC Acquires 67,331 Shares of Atlantic Union Bankshares Co. (NASDAQ:AUB)

Jennison Associates LLC lifted its stake in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 26.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 318,822 shares of the company’s stock after purchasing an additional 67,331 shares during the period. Jennison Associates LLC’s holdings in Atlantic Union Bankshares were worth $11,650,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Victory Capital Management Inc. lifted its position in shares of Atlantic Union Bankshares by 14.1% during the 3rd quarter. Victory Capital Management Inc. now owns 1,409,126 shares of the company’s stock valued at $40,555,000 after buying an additional 174,667 shares in the last quarter. Northern Trust Corp boosted its position in shares of Atlantic Union Bankshares by 0.3% in the third quarter. Northern Trust Corp now owns 977,763 shares of the company’s stock worth $28,140,000 after purchasing an additional 3,364 shares during the period. London Co. of Virginia increased its stake in shares of Atlantic Union Bankshares by 8.7% in the third quarter. London Co. of Virginia now owns 677,922 shares of the company’s stock worth $19,511,000 after purchasing an additional 54,498 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Atlantic Union Bankshares by 4.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 596,051 shares of the company’s stock valued at $17,154,000 after purchasing an additional 26,362 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH boosted its holdings in Atlantic Union Bankshares by 3.3% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 517,351 shares of the company’s stock worth $18,904,000 after buying an additional 16,451 shares during the period. 78.58% of the stock is owned by institutional investors.

Atlantic Union Bankshares Trading Down 1.4 %

AUB stock opened at $32.66 on Friday. The firm has a market cap of $2.46 billion, a PE ratio of 11.15 and a beta of 0.94. The firm has a fifty day moving average price of $33.59 and a 200 day moving average price of $33.13. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.90 and a current ratio of 0.90. Atlantic Union Bankshares Co. has a fifty-two week low of $23.32 and a fifty-two week high of $37.86.

Atlantic Union Bankshares (NASDAQ:AUB) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.04). The business had revenue of $288.47 million during the quarter, compared to analysts’ expectations of $178.82 million. Atlantic Union Bankshares had a return on equity of 9.47% and a net margin of 19.51%. During the same period in the previous year, the business earned $0.63 earnings per share. Sell-side analysts anticipate that Atlantic Union Bankshares Co. will post 3.24 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

AUB has been the topic of several research analyst reports. Raymond James boosted their target price on shares of Atlantic Union Bankshares from $34.00 to $39.00 and gave the stock an “outperform” rating in a report on Friday, January 5th. Stephens dropped their price objective on shares of Atlantic Union Bankshares from $43.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Keefe, Bruyette & Woods reduced their target price on Atlantic Union Bankshares from $36.00 to $35.00 and set a “market perform” rating on the stock in a report on Wednesday.

Insider Buying and Selling

In other Atlantic Union Bankshares news, Director Donald R. Kimble acquired 7,000 shares of the business’s stock in a transaction on Friday, March 8th. The shares were bought at an average price of $35.13 per share, with a total value of $245,910.00. Following the transaction, the director now directly owns 7,582 shares of the company’s stock, valued at approximately $266,355.66. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.87% of the stock is owned by corporate insiders.

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.