Renaissance Technologies LLC Makes New Investment in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Renaissance Technologies LLC purchased a new position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 124,689 shares of the company’s stock, valued at approximately $4,096,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. State Board of Administration of Florida Retirement System lifted its holdings in Atlantic Union Bankshares by 68.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 36,209 shares of the company’s stock worth $1,269,000 after buying an additional 14,760 shares during the period. Edgestream Partners L.P. acquired a new stake in Atlantic Union Bankshares during the 1st quarter valued at approximately $783,000. Fifth Lane Capital LP acquired a new stake in Atlantic Union Bankshares during the 1st quarter valued at approximately $1,560,000. Sei Investments Co. raised its holdings in Atlantic Union Bankshares by 83.7% during the 1st quarter. Sei Investments Co. now owns 160,775 shares of the company’s stock worth $5,677,000 after purchasing an additional 73,262 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Atlantic Union Bankshares by 19.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 971,363 shares of the company’s stock worth $35,494,000 after purchasing an additional 161,479 shares during the period. Institutional investors and hedge funds own 78.58% of the company’s stock.

Atlantic Union Bankshares Price Performance

Shares of AUB opened at $37.11 on Friday. The firm has a market cap of $3.33 billion, a PE ratio of 13.64 and a beta of 0.89. Atlantic Union Bankshares Co. has a 52-week low of $26.91 and a 52-week high of $42.50. The business’s 50 day moving average price is $38.30 and its two-hundred day moving average price is $35.02. 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 (NASDAQ:AUB) last issued its earnings results on Thursday, July 25th. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.05). The company had revenue of $212.20 million for 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 firm’s revenue was up 17.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.74 earnings per share. On average, equities analysts anticipate that Atlantic Union Bankshares Co. will post 3.04 EPS for the current year.

Atlantic Union Bankshares Dividend Announcement

The business also recently disclosed 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 3.45%. Atlantic Union Bankshares’s dividend payout ratio (DPR) is presently 47.06%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on AUB shares. Hovde Group decreased their price objective on shares of Atlantic Union Bankshares from $46.00 to $45.00 and set an “outperform” rating for the company in a research report on Friday, September 13th. Keefe, Bruyette & Woods upped 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. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $40.00.

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.