PNC Financial Services Group Inc. Sells 1,431 Shares of Atlantic Union Bankshares Co. (NASDAQ:AUB)

PNC Financial Services Group Inc. lowered its holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 2.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,199 shares of the company’s stock after selling 1,431 shares during the period. PNC Financial Services Group Inc. owned about 0.07% of Atlantic Union Bankshares worth $1,980,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. grew its position in shares of Atlantic Union Bankshares by 4.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 596,051 shares of the company’s stock valued at $17,154,000 after acquiring an additional 26,362 shares during the period. Deutsche Bank AG grew its position in shares of Atlantic Union Bankshares by 14.1% in the 3rd quarter. Deutsche Bank AG now owns 36,536 shares of the company’s stock valued at $1,052,000 after acquiring an additional 4,523 shares during the period. Envestnet Portfolio Solutions Inc. bought a new position in shares of Atlantic Union Bankshares in the 3rd quarter valued at about $384,000. Envestnet Asset Management Inc. grew its position in shares of Atlantic Union Bankshares by 62.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 318,334 shares of the company’s stock valued at $9,162,000 after acquiring an additional 121,806 shares during the period. Finally, FMR LLC grew its position in shares of Atlantic Union Bankshares by 3.5% in the 3rd quarter. FMR LLC now owns 94,323 shares of the company’s stock valued at $2,715,000 after acquiring an additional 3,169 shares during the period. Institutional investors own 78.58% of the company’s stock.

Analysts Set New Price Targets

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

Atlantic Union Bankshares Price Performance

Shares of Atlantic Union Bankshares stock opened at $31.13 on Friday. Atlantic Union Bankshares Co. has a twelve month low of $25.22 and a twelve month high of $37.86. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.15. The company has a 50-day simple moving average of $32.53 and a two-hundred day simple moving average of $33.81. The stock has a market capitalization of $2.79 billion, a price-to-earnings ratio of 11.44 and a beta of 0.92.

Atlantic Union Bankshares (NASDAQ:AUB) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $0.65 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $288.47 million during the quarter, compared to analyst estimates of $178.82 million. During the same quarter last year, the firm earned $0.63 EPS. Analysts forecast that Atlantic Union Bankshares Co. will post 2.95 EPS for the current year.

Atlantic Union Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 24th were given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 4.11%. The ex-dividend date was Thursday, May 23rd. Atlantic Union Bankshares’s payout ratio is presently 47.06%.

Insider Activity

In other news, Director Frank Russell Ellett bought 4,467 shares of the company’s stock in a transaction dated Monday, June 10th. The stock was bought at an average cost of $30.85 per share, for a total transaction of $137,806.95. Following the transaction, the director now owns 56,801 shares of the company’s stock, valued at $1,752,310.85. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.87% of the company’s stock.

About Atlantic Union Bankshares

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.