Atlantic Union Bankshares Co. (NASDAQ:AUB) Shares Sold by Tributary Capital Management LLC

Tributary Capital Management LLC reduced its stake in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 1.0% during the 1st quarter, Holdings Channel reports. The fund owned 600,213 shares of the company’s stock after selling 6,344 shares during the quarter. Atlantic Union Bankshares makes up approximately 1.7% of Tributary Capital Management LLC’s investment portfolio, making the stock its 21st biggest position. Tributary Capital Management LLC’s holdings in Atlantic Union Bankshares were worth $21,194,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Oliver Luxxe Assets LLC raised its stake in Atlantic Union Bankshares by 51.2% in the first quarter. Oliver Luxxe Assets LLC now owns 31,291 shares of the company’s stock valued at $1,105,000 after buying an additional 10,597 shares in the last quarter. Park Avenue Securities LLC raised its stake in Atlantic Union Bankshares by 4.6% in the first quarter. Park Avenue Securities LLC now owns 10,178 shares of the company’s stock valued at $359,000 after buying an additional 444 shares in the last quarter. Mather Group LLC. acquired a new stake in Atlantic Union Bankshares in the first quarter valued at $27,000. Vanguard Group Inc. raised its stake in Atlantic Union Bankshares by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 9,290,826 shares of the company’s stock valued at $339,487,000 after buying an additional 111,580 shares in the last quarter. Finally, Fisher Asset Management LLC raised its stake in Atlantic Union Bankshares by 0.4% in the fourth quarter. Fisher Asset Management LLC now owns 302,253 shares of the company’s stock valued at $11,044,000 after buying an additional 1,253 shares in the last quarter. 78.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Frank Russell Ellett purchased 4,467 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were purchased at an average price of $30.85 per share, with a total value of $137,806.95. Following the completion of the acquisition, the director now directly owns 56,801 shares in the company, valued at approximately $1,752,310.85. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.28% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on AUB. Stephens cut their price target on Atlantic Union Bankshares from $43.00 to $40.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 24th. Piper Sandler cut their price target on Atlantic Union Bankshares from $40.00 to $38.00 and set an “overweight” rating on the stock in a research note on Monday, April 29th. Finally, Keefe, Bruyette & Woods cut their target price on Atlantic Union Bankshares from $36.00 to $35.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 24th.

Atlantic Union Bankshares Stock Performance

Shares of AUB traded down $0.10 during midday trading on Monday, reaching $32.75. 406,880 shares of the stock were exchanged, compared to its average volume of 395,969. The business’s 50-day moving average price is $32.46 and its 200 day moving average price is $33.74. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.90 and a quick ratio of 0.90. Atlantic Union Bankshares Co. has a twelve month low of $25.27 and a twelve month high of $37.86. The company has a market capitalization of $2.94 billion, a price-to-earnings ratio of 12.04 and a beta of 0.90.

Atlantic Union Bankshares (NASDAQ:AUB) last posted its earnings results on Tuesday, April 23rd. The company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.04). Atlantic Union Bankshares had a return on equity of 9.47% and a net margin of 19.51%. The firm had revenue of $288.47 million for the quarter, compared to analyst estimates of $178.82 million. During the same quarter last year, the firm posted $0.63 EPS. On average, sell-side analysts expect that Atlantic Union Bankshares Co. will post 2.95 EPS for the current fiscal year.

Atlantic Union Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Friday, May 24th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date of this dividend was Thursday, May 23rd. Atlantic Union Bankshares’s dividend payout ratio is currently 47.06%.

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.