Algert Global LLC Buys Shares of 9,009 Atlantic Union Bankshares Co. (NASDAQ:AUB)

Algert Global LLC purchased a new position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 9,009 shares of the company’s stock, valued at approximately $296,000.

A number of other hedge funds have also recently modified their holdings of the business. Mather Group LLC. bought a new stake in Atlantic Union Bankshares during the first quarter valued at about $27,000. Family Firm Inc. purchased a new stake in Atlantic Union Bankshares in the 2nd quarter worth approximately $85,000. Central Pacific Bank Trust Division bought a new stake in Atlantic Union Bankshares during the 1st quarter worth approximately $179,000. EMC Capital Management purchased a new position in Atlantic Union Bankshares during the first quarter valued at approximately $199,000. Finally, Diversified Trust Co bought a new position in shares of Atlantic Union Bankshares in the second quarter worth approximately $252,000. Institutional investors own 78.58% of the company’s stock.

Atlantic Union Bankshares Trading Down 0.9 %

Shares of Atlantic Union Bankshares stock opened at $36.33 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.14. The firm has a market cap of $3.26 billion, a price-to-earnings ratio of 13.36 and a beta of 0.89. Atlantic Union Bankshares Co. has a twelve month low of $26.91 and a twelve month high of $42.50. The business has a 50-day moving average price of $37.69 and a 200-day moving average price of $35.16.

Atlantic Union Bankshares (NASDAQ:AUB) last released its quarterly 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 for the quarter, compared to analysts’ expectations of $216.03 million. Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.95%. The business’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.74 EPS. Equities research analysts anticipate that Atlantic Union Bankshares Co. will post 3.01 EPS 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. Investors of record on Friday, August 9th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date of this dividend was Friday, August 9th. Atlantic Union Bankshares’s payout ratio is 47.06%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Raymond James decreased their price objective on shares of Atlantic Union Bankshares from $45.00 to $41.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 2nd. Keefe, Bruyette & Woods upped their price objective on Atlantic Union Bankshares from $35.00 to $38.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th. Finally, Hovde Group decreased their target price on Atlantic Union Bankshares from $46.00 to $45.00 and set an “outperform” rating on the stock in a research note on Friday, September 13th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $40.40.

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.