Creative Planning Lowers Holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Creative Planning cut its position in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 13.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,919 shares of the company’s stock after selling 1,651 shares during the quarter. Creative Planning’s holdings in Atlantic Union Bankshares were worth $359,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of AUB. Goldman Sachs Group Inc. increased its holdings in shares of Atlantic Union Bankshares by 19.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 971,363 shares of the company’s stock worth $35,494,000 after buying an additional 161,479 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of Atlantic Union Bankshares by 0.4% during the 4th quarter. Fisher Asset Management LLC now owns 302,253 shares of the company’s stock valued at $11,044,000 after purchasing an additional 1,253 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Atlantic Union Bankshares by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 9,290,826 shares of the company’s stock valued at $339,487,000 after purchasing an additional 111,580 shares during the last quarter. Mather Group LLC. bought a new position in shares of Atlantic Union Bankshares during the 1st quarter valued at $27,000. Finally, Park Avenue Securities LLC grew its holdings in shares of Atlantic Union Bankshares by 4.6% during the 1st quarter. Park Avenue Securities LLC now owns 10,178 shares of the company’s stock valued at $359,000 after purchasing an additional 444 shares during the last quarter. 78.58% of the stock is currently owned by hedge funds and other institutional investors.

Atlantic Union Bankshares Price Performance

AUB stock opened at $39.36 on Thursday. Atlantic Union Bankshares Co. has a one year low of $26.91 and a one year high of $42.50. The company’s fifty day moving average price is $37.70 and its 200-day moving average price is $35.28. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market capitalization of $3.53 billion, a PE ratio of 17.34 and a beta of 0.89.

Atlantic Union Bankshares (NASDAQ:AUB) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.05). Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.95%. The business had revenue of $212.20 million for the quarter, compared to analysts’ expectations of $216.03 million. During the same period in the previous year, the company earned $0.74 EPS. Atlantic Union Bankshares’s revenue for the quarter was up 17.9% compared to the same quarter last year. On average, equities analysts anticipate that Atlantic Union Bankshares Co. will post 3.01 EPS for the current fiscal year.

Atlantic Union Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date was Friday, August 9th. Atlantic Union Bankshares’s payout ratio is presently 56.39%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Keefe, Bruyette & Woods increased their target price on shares of 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 cut their price target 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. Finally, Raymond James cut their price target on shares of Atlantic Union Bankshares from $45.00 to $41.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Atlantic Union Bankshares 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.