MQS Management LLC Buys Shares of 12,457 Atlantic Union Bankshares Co. (NASDAQ:AUB)

MQS Management LLC purchased a new stake in Atlantic Union Bankshares Co. (NASDAQ:AUB) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 12,457 shares of the company’s stock, valued at approximately $409,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Mather Group LLC. bought a new stake in Atlantic Union Bankshares in the first quarter valued at approximately $27,000. Family Firm Inc. acquired a new position in shares of Atlantic Union Bankshares in the 2nd quarter valued at $85,000. TFO Wealth Partners LLC increased its position in shares of Atlantic Union Bankshares by 386,100.0% in the 4th quarter. TFO Wealth Partners LLC now owns 3,862 shares of the company’s stock valued at $141,000 after buying an additional 3,861 shares in the last quarter. Central Pacific Bank Trust Division acquired a new stake in Atlantic Union Bankshares during the 1st quarter worth $179,000. Finally, EMC Capital Management bought a new position in Atlantic Union Bankshares during the first quarter worth about $199,000. 78.58% of the stock is currently owned by institutional investors.

Atlantic Union Bankshares Price Performance

AUB stock opened at $39.39 on Friday. The stock has a 50-day moving average price of $38.28 and a two-hundred day moving average price of $34.84. Atlantic Union Bankshares Co. has a 1 year low of $26.91 and a 1 year high of $42.50. The stock has a market cap of $3.54 billion, a PE ratio of 14.48 and a beta of 0.89. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.14.

Atlantic Union Bankshares (NASDAQ:AUB) last posted its quarterly earnings data 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 return on equity of 8.95% and a net margin of 15.53%. The firm had revenue of $212.20 million for the quarter, compared to the consensus estimate of $216.03 million. During the same quarter in the previous year, the business posted $0.74 earnings per share. The firm’s quarterly revenue was up 17.9% compared to the same quarter last year. Equities analysts forecast that Atlantic Union Bankshares Co. will post 3.04 EPS for the current fiscal year.

Atlantic Union Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were issued a dividend of $0.32 per share. The ex-dividend date was Friday, August 9th. This represents a $1.28 annualized dividend and a yield of 3.25%. Atlantic Union Bankshares’s payout ratio is presently 47.06%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on AUB shares. Keefe, Bruyette & Woods increased their price target on Atlantic Union Bankshares from $35.00 to $38.00 and gave the stock a “market perform” rating in a report on Monday, July 29th. Hovde Group decreased their price objective on Atlantic Union Bankshares from $46.00 to $45.00 and set an “outperform” rating for the company in a research report on Friday, September 13th. One 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 an average rating of “Moderate Buy” and an average price target of $40.00.

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.