State of New Jersey Common Pension Fund D Lowers Holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB)

State of New Jersey Common Pension Fund D reduced its position in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 32.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,702 shares of the company’s stock after selling 27,625 shares during the period. State of New Jersey Common Pension Fund D owned 0.06% of Atlantic Union Bankshares worth $1,896,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Texas Permanent School Fund Corp grew its stake in shares of Atlantic Union Bankshares by 1.9% during the second quarter. Texas Permanent School Fund Corp now owns 66,894 shares of the company’s stock valued at $2,197,000 after buying an additional 1,235 shares during the last quarter. Arizona State Retirement System grew its stake in shares of Atlantic Union Bankshares by 21.4% during the second quarter. Arizona State Retirement System now owns 25,037 shares of the company’s stock valued at $822,000 after buying an additional 4,421 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Atlantic Union Bankshares by 8.8% during the second 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 during the last quarter. Rhumbline Advisers grew its stake in Atlantic Union Bankshares by 18.0% in the second quarter. Rhumbline Advisers now owns 284,146 shares of the company’s stock worth $9,334,000 after purchasing an additional 43,294 shares in the last quarter. Finally, CIBC Asset Management Inc grew its stake in Atlantic Union Bankshares by 19.9% in the second quarter. CIBC Asset Management Inc now owns 8,538 shares of the company’s stock worth $280,000 after purchasing an additional 1,418 shares in the last quarter. 78.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Keefe, Bruyette & Woods increased their price objective on Atlantic Union Bankshares from $35.00 to $38.00 and gave the company a “market perform” rating in a report on Monday, July 29th. Hovde Group reduced their target price on Atlantic Union Bankshares from $46.00 to $45.00 and set an “outperform” rating for the company in a research note on Friday, September 13th. One 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, the stock has a consensus rating of “Moderate Buy” and an average target price of $40.00.

Atlantic Union Bankshares Trading Down 1.9 %

AUB stock opened at $38.61 on Monday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.14. Atlantic Union Bankshares Co. has a 12-month low of $26.91 and a 12-month high of $42.50. The stock has a market cap of $3.47 billion, a price-to-earnings ratio of 14.19 and a beta of 0.89. The business’s 50-day moving average is $38.41 and its 200 day moving average is $34.92.

Atlantic Union Bankshares (NASDAQ:AUB) last released its earnings results on Thursday, July 25th. The company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.05). Atlantic Union Bankshares had a return on equity of 8.95% and a net margin of 15.53%. The business had revenue of $212.20 million during the quarter, compared to analysts’ expectations of $216.03 million. During the same period last year, the business earned $0.74 earnings per share. The company’s revenue for the quarter was up 17.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Atlantic Union Bankshares Co. will post 3.04 EPS for the current fiscal year.

Atlantic Union Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend was Friday, August 9th. Atlantic Union Bankshares’s payout ratio is presently 47.06%.

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.