Natixis Advisors LLC Grows Stock Position in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Natixis Advisors LLC lifted its stake in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 24.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 60,782 shares of the company’s stock after buying an additional 11,832 shares during the quarter. Natixis Advisors LLC owned approximately 0.07% of Atlantic Union Bankshares worth $2,290,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its position in 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 in the last quarter. Westwood Holdings Group Inc. boosted its holdings in Atlantic Union Bankshares by 1.2% during the second quarter. Westwood Holdings Group Inc. now owns 2,658,342 shares of the company’s stock worth $87,327,000 after buying an additional 30,586 shares in the last quarter. Victory Capital Management Inc. grew its position in 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 period. Bank of New York Mellon Corp increased its holdings in Atlantic Union Bankshares by 45.3% in the second quarter. Bank of New York Mellon Corp now owns 1,180,199 shares of the company’s stock valued at $38,770,000 after buying an additional 368,190 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH raised its position in shares of Atlantic Union Bankshares by 9.6% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 612,181 shares of the company’s stock worth $20,110,000 after acquiring an additional 53,740 shares during the period. 78.58% of the stock is owned by institutional investors and hedge funds.

Atlantic Union Bankshares Price Performance

Shares of Atlantic Union Bankshares stock opened at $42.63 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.90 and a quick ratio of 0.90. The business has a 50 day simple moving average of $38.82 and a two-hundred day simple moving average of $36.61. The stock has a market capitalization of $3.83 billion, a P/E ratio of 17.69 and a beta of 0.89. Atlantic Union Bankshares Co. has a 12 month low of $30.22 and a 12 month high of $43.57.

Atlantic Union Bankshares (NASDAQ:AUB) last released its earnings results on Monday, October 21st. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.01. Atlantic Union Bankshares had a net margin of 16.25% and a return on equity of 8.85%. The business had revenue of $358.81 million during the quarter, compared to analyst estimates of $226.70 million. During the same quarter in the prior year, the firm earned $0.80 earnings per share. As a group, analysts predict that Atlantic Union Bankshares Co. will post 2.93 EPS for the current fiscal year.

Atlantic Union Bankshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were issued a $0.34 dividend. The ex-dividend date was Friday, November 8th. This is a boost from Atlantic Union Bankshares’s previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a yield of 3.19%. Atlantic Union Bankshares’s dividend payout ratio is currently 56.43%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on AUB shares. Raymond James dropped their target price on 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. Hovde Group dropped their price objective on 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, Keefe, Bruyette & Woods upped their target price on Atlantic Union Bankshares from $42.00 to $46.00 and gave the stock a “market perform” rating in a research note on Friday. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

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.