JPMorgan Chase & Co. Has $3.43 Million Stock Position in Atlantic Union Bankshares Co. (NASDAQ:AUB)

JPMorgan Chase & Co. trimmed its stake in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 2.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 90,957 shares of the company’s stock after selling 2,085 shares during the period. JPMorgan Chase & Co. owned 0.10% of Atlantic Union Bankshares worth $3,426,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Atlantic Union Bankshares by 78.8% during the third quarter. Nomura Asset Management Co. Ltd. now owns 930 shares of the company’s stock valued at $35,000 after acquiring an additional 410 shares during the period. GAMMA Investing LLC grew its holdings in Atlantic Union Bankshares by 88.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,041 shares of the company’s stock worth $39,000 after acquiring an additional 489 shares during the last quarter. UMB Bank n.a. increased its position in Atlantic Union Bankshares by 77.7% in the 3rd quarter. UMB Bank n.a. now owns 1,105 shares of the company’s stock valued at $42,000 after acquiring an additional 483 shares in the last quarter. Quest Partners LLC acquired a new position in shares of Atlantic Union Bankshares during the third quarter worth approximately $56,000. Finally, Blue Trust Inc. increased its holdings in shares of Atlantic Union Bankshares by 110.2% in the third quarter. Blue Trust Inc. now owns 2,089 shares of the company’s stock valued at $79,000 after purchasing an additional 1,095 shares in the last quarter. 78.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AUB has been the topic of several recent analyst reports. Piper Sandler assumed coverage on Atlantic Union Bankshares in a report on Monday, January 13th. They set an “overweight” rating and a $51.00 price objective on the stock. 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 note on Wednesday, October 2nd. Finally, Keefe, Bruyette & Woods increased their price objective on Atlantic Union Bankshares from $42.00 to $46.00 and gave the stock a “market perform” rating in a report on Friday, November 22nd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $44.60.

Atlantic Union Bankshares Stock Up 0.6 %

AUB opened at $37.81 on Friday. The company has a market cap of $3.39 billion, a PE ratio of 15.69 and a beta of 0.93. The company has a 50 day moving average of $39.96 and a 200 day moving average of $38.55. Atlantic Union Bankshares Co. has a 12 month low of $30.43 and a 12 month high of $44.54. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.13.

Atlantic Union Bankshares (NASDAQ:AUB) last posted its earnings results on Monday, October 21st. The company reported $0.83 earnings per share 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 company had revenue of $358.81 million during the quarter, compared to analyst estimates of $226.70 million. During the same period in the prior year, the business posted $0.80 earnings per share. On average, sell-side analysts expect that Atlantic Union Bankshares Co. will post 2.93 EPS for the current year.

Atlantic Union Bankshares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 3.60%. This is a positive change from Atlantic Union Bankshares’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, November 8th. Atlantic Union Bankshares’s dividend payout ratio is presently 56.43%.

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.