Renaissance Technologies LLC Makes New Investment in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Renaissance Technologies LLC bought a new stake in Atlantic Union Bankshares Co. (NASDAQ:AUB) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 124,689 shares of the company’s stock, valued at approximately $4,096,000. Renaissance Technologies LLC owned 0.14% of Atlantic Union Bankshares as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings 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 during the period. Dimensional Fund Advisors LP boosted its position in shares of Atlantic Union Bankshares by 13.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,681,290 shares of the company’s stock worth $186,626,000 after purchasing an additional 690,400 shares during the last quarter. Westwood Holdings Group Inc. grew its stake in shares of Atlantic Union Bankshares by 19.0% during the first quarter. Westwood Holdings Group Inc. now owns 2,627,756 shares of the company’s stock worth $92,786,000 after purchasing an additional 419,793 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Atlantic Union Bankshares by 0.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,723,002 shares of the company’s stock worth $62,958,000 after purchasing an additional 10,969 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in Atlantic Union Bankshares by 8.8% in the second quarter. Victory Capital Management Inc. now owns 1,595,728 shares of the company’s stock valued at $52,420,000 after purchasing an additional 128,447 shares during the last quarter. 78.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on AUB shares. Hovde Group cut their target price on shares of Atlantic Union Bankshares from $46.00 to $45.00 and set an “outperform” rating on the stock in a report on Friday, September 13th. Keefe, Bruyette & Woods lifted their target price on Atlantic Union Bankshares from $35.00 to $38.00 and gave the stock a “market perform” rating in a report on Monday, July 29th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.00.

Atlantic Union Bankshares Price Performance

Shares of NASDAQ AUB opened at $37.11 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.90 and a quick ratio of 0.90. The business has a 50-day moving average of $38.30 and a 200-day moving average of $35.02. The stock has a market capitalization of $3.33 billion, a price-to-earnings ratio of 13.64 and a beta of 0.89. Atlantic Union Bankshares Co. has a fifty-two week low of $26.91 and a fifty-two week high of $42.50.

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 the consensus estimate of $0.68 by ($0.05). The firm had revenue of $212.20 million during the quarter, compared to the consensus estimate of $216.03 million. Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.95%. Atlantic Union Bankshares’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.74 earnings per share. As a group, sell-side analysts predict that Atlantic Union Bankshares Co. will post 3.04 earnings per share for the current fiscal year.

Atlantic Union Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 3.45%. The ex-dividend date of this dividend was Friday, August 9th. Atlantic Union Bankshares’s dividend payout ratio is 47.06%.

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.