Victory Capital Management Inc. Reduces Stock Position in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Victory Capital Management Inc. trimmed its holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 1.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,578,737 shares of the company’s stock after selling 16,991 shares during the period. Victory Capital Management Inc.’s holdings in Atlantic Union Bankshares were worth $59,471,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in shares of Atlantic Union Bankshares by 88.6% in the third quarter. GAMMA Investing LLC now owns 1,041 shares of the company’s stock worth $39,000 after buying an additional 489 shares in the last quarter. UMB Bank n.a. increased its holdings in Atlantic Union Bankshares by 77.7% during the 3rd quarter. UMB Bank n.a. now owns 1,105 shares of the company’s stock worth $42,000 after acquiring an additional 483 shares during the period. Blue Trust Inc. lifted its stake in Atlantic Union Bankshares by 110.2% in the 3rd quarter. Blue Trust Inc. now owns 2,089 shares of the company’s stock worth $79,000 after purchasing an additional 1,095 shares in the last quarter. Family Firm Inc. bought a new position in Atlantic Union Bankshares in the 2nd quarter valued at $85,000. Finally, ZWJ Investment Counsel Inc. purchased a new position in shares of Atlantic Union Bankshares during the 3rd quarter valued at $202,000. Institutional investors own 78.58% of the company’s stock.

Analyst Upgrades and Downgrades

AUB has been the topic of a number of recent analyst reports. Hovde Group lowered their price objective on Atlantic Union Bankshares from $46.00 to $45.00 and set an “outperform” rating on the stock in a research report on Friday, September 13th. Raymond James dropped their price target on Atlantic Union Bankshares from $45.00 to $41.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd. Finally, Keefe, Bruyette & Woods upped 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 report on Monday, July 29th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.40.

Atlantic Union Bankshares Stock Up 0.2 %

Shares of NASDAQ AUB opened at $42.65 on Friday. The stock has a market capitalization of $3.83 billion, a P/E ratio of 17.70 and a beta of 0.89. Atlantic Union Bankshares Co. has a one year low of $30.22 and a one year high of $43.57. The firm’s 50 day simple moving average is $38.25 and its two-hundred day simple moving average is $36.19. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.90 and a quick ratio of 0.90.

Atlantic Union Bankshares (NASDAQ:AUB) last released its quarterly earnings data 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 return on equity of 8.85% and a net margin of 16.25%. The firm had revenue of $358.81 million for the quarter, compared to the consensus estimate of $226.70 million. During the same quarter in the previous year, the business earned $0.80 earnings per share. As a group, analysts expect that Atlantic Union Bankshares Co. will post 2.93 EPS for the current fiscal year.

Atlantic Union Bankshares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 3.19%. This is an increase from Atlantic Union Bankshares’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, November 8th. Atlantic Union Bankshares’s dividend payout ratio is 56.43%.

About Atlantic Union Bankshares

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.