Atlantic Union Bankshares Co. (NASDAQ:AUB) Stock Position Raised by BNP Paribas Financial Markets

BNP Paribas Financial Markets lifted its stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 95.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,346 shares of the company’s stock after purchasing an additional 17,265 shares during the period. BNP Paribas Financial Markets’ holdings in Atlantic Union Bankshares were worth $1,331,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP raised its holdings in Atlantic Union Bankshares by 13.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,681,290 shares of the company’s stock worth $186,626,000 after buying an additional 690,400 shares during the period. Westwood Holdings Group Inc. increased its position in shares of Atlantic Union Bankshares by 1.2% in the second quarter. Westwood Holdings Group Inc. now owns 2,658,342 shares of the company’s stock worth $87,327,000 after acquiring an additional 30,586 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of 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 worth $52,420,000 after acquiring an additional 128,447 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Atlantic Union Bankshares by 45.3% during 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 acquiring an additional 368,190 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Atlantic Union Bankshares by 8.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 973,480 shares of the company’s stock valued at $36,671,000 after acquiring an additional 77,642 shares in the last quarter. 78.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports 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 research note on Friday, September 13th. Keefe, Bruyette & Woods lifted their price target on Atlantic Union Bankshares from $42.00 to $46.00 and gave the company a “market perform” rating in a report on Friday, November 22nd. Finally, Raymond James dropped their price target 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. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $42.00.

Atlantic Union Bankshares Stock Down 0.5 %

AUB stock opened at $42.17 on Tuesday. The company has a 50 day moving average of $39.83 and a two-hundred day moving average of $37.29. The company has a market cap of $3.79 billion, a price-to-earnings ratio of 17.50 and a beta of 0.91. Atlantic Union Bankshares Co. has a 12-month low of $30.43 and a 12-month high of $44.54. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.13.

Atlantic Union Bankshares (NASDAQ:AUB) last announced its quarterly earnings data on Monday, October 21st. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.01. Atlantic Union Bankshares had a return on equity of 8.85% and a net margin of 16.25%. The business had revenue of $358.81 million during the quarter, compared to analyst estimates of $226.70 million. During the same period last year, the company earned $0.80 earnings per share. On average, equities analysts anticipate that Atlantic Union Bankshares Co. will post 2.93 earnings per share for the current fiscal year.

Atlantic Union Bankshares Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 3.23%. This is a positive change from Atlantic Union Bankshares’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, November 8th. Atlantic Union Bankshares’s payout ratio is currently 56.43%.

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.