Moors & Cabot Inc. Acquires 500 Shares of Atlantic Union Bankshares Co. (NASDAQ:AUB)

Moors & Cabot Inc. raised its holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 5.5% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,532 shares of the company’s stock after acquiring an additional 500 shares during the quarter. Moors & Cabot Inc.’s holdings in Atlantic Union Bankshares were worth $313,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Atlantic Union Bankshares by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 9,290,826 shares of the company’s stock worth $339,487,000 after purchasing an additional 111,580 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Atlantic Union Bankshares by 13.8% during the second quarter. Dimensional Fund Advisors LP now owns 5,681,290 shares of the company’s stock valued at $186,626,000 after buying an additional 690,400 shares during the period. Westwood Holdings Group Inc. raised its holdings in shares of Atlantic Union Bankshares by 19.0% in the first quarter. Westwood Holdings Group Inc. now owns 2,627,756 shares of the company’s stock valued at $92,786,000 after acquiring an additional 419,793 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Atlantic Union Bankshares by 0.6% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,723,002 shares of the company’s stock valued at $62,958,000 after acquiring an additional 10,969 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in Atlantic Union Bankshares by 8.8% during the 2nd 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. Hedge funds and other institutional investors own 78.58% of the company’s stock.

Atlantic Union Bankshares Stock Performance

AUB stock opened at $38.59 on Friday. The firm has a 50-day simple moving average of $38.35 and a two-hundred day simple moving average of $34.87. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.90 and a current ratio of 0.90. Atlantic Union Bankshares Co. has a one year low of $26.91 and a one year high of $42.50. The firm has a market cap of $3.46 billion, a price-to-earnings ratio of 14.24 and a beta of 0.89.

Atlantic Union Bankshares (NASDAQ:AUB) last announced its earnings results on Thursday, July 25th. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.05). The business had revenue of $212.20 million for the quarter, compared to analysts’ expectations of $216.03 million. Atlantic Union Bankshares had a return on equity of 8.95% and a net margin of 15.53%. The firm’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.74 earnings per share. On average, equities analysts forecast that Atlantic Union Bankshares Co. will post 3.04 EPS for the current fiscal year.

Atlantic Union Bankshares Dividend Announcement

The company also recently disclosed 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 3.32%. The ex-dividend date of this dividend was Friday, August 9th. Atlantic Union Bankshares’s dividend payout ratio is presently 47.06%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AUB. Hovde Group reduced their price target on shares of Atlantic Union Bankshares from $46.00 to $45.00 and set an “outperform” rating for the company in a report on Friday, September 13th. Keefe, Bruyette & Woods boosted their price objective on shares of Atlantic Union Bankshares from $35.00 to $38.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.