Mendon Capital Advisors Corp Has $821,000 Position in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Mendon Capital Advisors Corp trimmed its position in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 50.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,000 shares of the company’s stock after selling 25,000 shares during the quarter. Atlantic Union Bankshares accounts for 0.7% of Mendon Capital Advisors Corp’s holdings, making the stock its 28th biggest holding. Mendon Capital Advisors Corp’s holdings in Atlantic Union Bankshares were worth $821,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of AUB. Vista Investment Management grew its stake in shares of Atlantic Union Bankshares by 4.6% in the fourth quarter. Vista Investment Management now owns 9,030 shares of the company’s stock valued at $330,000 after acquiring an additional 395 shares in the last quarter. Park Avenue Securities LLC grew its position in shares of Atlantic Union Bankshares by 4.6% during the 1st quarter. Park Avenue Securities LLC now owns 10,178 shares of the company’s stock worth $359,000 after purchasing an additional 444 shares in the last quarter. Moors & Cabot Inc. increased its holdings in shares of Atlantic Union Bankshares by 5.5% during the second quarter. Moors & Cabot Inc. now owns 9,532 shares of the company’s stock worth $313,000 after purchasing an additional 500 shares during the period. Mather Group LLC. acquired a new stake in shares of Atlantic Union Bankshares in the first quarter valued at approximately $27,000. Finally, US Bancorp DE boosted its stake in shares of Atlantic Union Bankshares by 6.8% in the first quarter. US Bancorp DE now owns 12,098 shares of the company’s stock valued at $427,000 after buying an additional 769 shares during the period. Institutional investors and hedge funds own 78.58% of the company’s stock.

Wall Street Analyst Weigh In

AUB has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods raised their price target on Atlantic Union Bankshares from $35.00 to $38.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th. Hovde Group decreased 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 report on Friday, September 13th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $40.00.

Atlantic Union Bankshares Stock Performance

Atlantic Union Bankshares stock opened at $36.38 on Wednesday. The stock has a market cap of $3.27 billion, a PE ratio of 13.38 and a beta of 0.89. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.14. Atlantic Union Bankshares Co. has a 12-month low of $26.91 and a 12-month high of $42.50. The business’s 50-day moving average price is $38.17 and its two-hundred day moving average price is $35.08.

Atlantic Union Bankshares (NASDAQ:AUB) last released 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). The company had revenue of $212.20 million for the quarter, compared to analyst estimates of $216.03 million. Atlantic Union Bankshares had a return on equity of 8.95% and a net margin of 15.53%. Atlantic Union Bankshares’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.74 earnings per share. As a group, analysts expect that Atlantic Union Bankshares Co. will post 3.04 earnings per share for the current fiscal year.

Atlantic Union Bankshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 3.52%. The ex-dividend date was Friday, August 9th. Atlantic Union Bankshares’s dividend payout ratio (DPR) is currently 47.06%.

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.