Truist Financial Corp Decreases Holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Truist Financial Corp trimmed its stake in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 9.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 107,448 shares of the company’s stock after selling 11,271 shares during the quarter. Truist Financial Corp owned approximately 0.12% of Atlantic Union Bankshares worth $3,530,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AUB. Vista Investment Management lifted its position in shares of Atlantic Union Bankshares by 4.6% during the 4th quarter. Vista Investment Management now owns 9,030 shares of the company’s stock valued at $330,000 after buying an additional 395 shares during the last quarter. Taylor Financial Group Inc. bought a new stake in Atlantic Union Bankshares in the 4th quarter valued at about $651,000. Goldman Sachs Group Inc. raised its stake in Atlantic Union Bankshares by 19.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 971,363 shares of the company’s stock valued at $35,494,000 after acquiring an additional 161,479 shares during the period. Fisher Asset Management LLC lifted its holdings in Atlantic Union Bankshares by 0.4% during the fourth quarter. Fisher Asset Management LLC now owns 302,253 shares of the company’s stock valued at $11,044,000 after purchasing an additional 1,253 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in Atlantic Union Bankshares by 1.2% during the fourth 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. 78.58% of the stock is currently owned by hedge funds and other institutional investors.

Atlantic Union Bankshares Stock Performance

Atlantic Union Bankshares stock opened at $36.33 on Wednesday. Atlantic Union Bankshares Co. has a 1-year low of $26.91 and a 1-year high of $42.50. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $3.26 billion, a PE ratio of 13.36 and a beta of 0.89. The firm’s 50 day simple moving average is $37.69 and its 200 day simple moving average is $35.16.

Atlantic Union Bankshares (NASDAQ:AUB) last released its quarterly 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 firm had revenue of $212.20 million during the quarter, compared to the consensus estimate of $216.03 million. Atlantic Union Bankshares had a return on equity of 8.95% and a net margin of 15.53%. The company’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.74 EPS. As a group, analysts expect that Atlantic Union Bankshares Co. will post 3.01 earnings per share for the current fiscal year.

Atlantic Union Bankshares Dividend Announcement

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

Analyst Ratings Changes

Several research firms have recently issued reports on AUB. Keefe, Bruyette & Woods boosted their price target on shares of Atlantic Union Bankshares from $35.00 to $38.00 and gave the company a “market perform” rating in a research report on Monday, July 29th. Raymond James lowered their target price on shares of Atlantic Union Bankshares from $45.00 to $41.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. Finally, Hovde Group cut their price target on Atlantic Union Bankshares from $46.00 to $45.00 and set an “outperform” rating for the company in a report on Friday, September 13th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $40.40.

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.