Systematic Financial Management LP Boosts Holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Systematic Financial Management LP grew its position in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 33.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 463,039 shares of the company’s stock after buying an additional 116,747 shares during the period. Systematic Financial Management LP owned 0.52% of Atlantic Union Bankshares worth $17,443,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its position in shares of Atlantic Union Bankshares by 5.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 50,209 shares of the company’s stock worth $1,773,000 after purchasing an additional 2,741 shares during the period. SG Americas Securities LLC boosted its position in shares of Atlantic Union Bankshares by 69.9% during the 2nd quarter. SG Americas Securities LLC now owns 19,122 shares of the company’s stock worth $628,000 after purchasing an additional 7,868 shares during the period. Diversified Trust Co purchased a new position in shares of Atlantic Union Bankshares during the 2nd quarter worth approximately $252,000. Raymond James & Associates boosted its position in shares of Atlantic Union Bankshares by 2.7% during the 2nd quarter. Raymond James & Associates now owns 121,394 shares of the company’s stock worth $3,988,000 after purchasing an additional 3,192 shares during the period. Finally, Louisiana State Employees Retirement System lifted its holdings in Atlantic Union Bankshares by 21.5% during the 2nd quarter. Louisiana State Employees Retirement System now owns 45,200 shares of the company’s stock worth $1,485,000 after buying an additional 8,000 shares in the last quarter. Hedge funds and other institutional investors own 78.58% of the company’s stock.

Atlantic Union Bankshares Price Performance

Shares of NASDAQ:AUB opened at $42.79 on Thursday. The company’s fifty day moving average price is $39.42 and its 200 day moving average price is $37.04. Atlantic Union Bankshares Co. has a 12 month low of $30.43 and a 12 month high of $44.54. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market capitalization of $3.84 billion, a P/E ratio of 17.76 and a beta of 0.91.

Atlantic Union Bankshares (NASDAQ:AUB) last announced its quarterly earnings results on Monday, October 21st. The company reported $0.83 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $358.81 million for the quarter, compared to analyst estimates of $226.70 million. During the same period last year, the business earned $0.80 EPS. As a group, sell-side analysts predict that Atlantic Union Bankshares Co. will post 2.93 earnings per share for the current fiscal year.

Atlantic Union Bankshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were given a dividend of $0.34 per share. This is an increase from Atlantic Union Bankshares’s previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a yield of 3.18%. The ex-dividend date was Friday, November 8th. Atlantic Union Bankshares’s dividend payout ratio (DPR) is presently 56.43%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Hovde Group reduced their price objective 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. Raymond James reduced their price objective 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, Keefe, Bruyette & Woods raised their price objective on shares of Atlantic Union Bankshares from $42.00 to $46.00 and gave the company a “market perform” rating in a report on Friday, November 22nd. 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 company has a consensus rating of “Moderate Buy” and an average price target of $42.00.

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.