Park Avenue Securities LLC Sells 2,771 Shares of Atlantic Union Bankshares Co. (NASDAQ:AUB)

Park Avenue Securities LLC cut its holdings in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 28.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,126 shares of the company’s stock after selling 2,771 shares during the period. Park Avenue Securities LLC’s holdings in Atlantic Union Bankshares were worth $268,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of AUB. Goldman Sachs Group Inc. raised its holdings in shares of Atlantic Union Bankshares by 19.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 971,363 shares of the company’s stock worth $35,494,000 after buying an additional 161,479 shares in the last quarter. Fisher Asset Management LLC raised its stake 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 worth $11,044,000 after acquiring an additional 1,253 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Atlantic Union Bankshares by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 9,290,826 shares of the company’s stock worth $339,487,000 after acquiring an additional 111,580 shares during the last quarter. Mather Group LLC. acquired a new stake in shares of Atlantic Union Bankshares in the 1st quarter valued at approximately $27,000. Finally, Oliver Luxxe Assets LLC increased its position in Atlantic Union Bankshares by 51.2% during the 1st quarter. Oliver Luxxe Assets LLC now owns 31,291 shares of the company’s stock worth $1,105,000 after purchasing an additional 10,597 shares in the last quarter. Institutional investors and hedge funds own 78.58% of the company’s stock.

Atlantic Union Bankshares Stock Performance

Shares of Atlantic Union Bankshares stock opened at $37.88 on Monday. The stock has a market cap of $3.40 billion, a price-to-earnings ratio of 16.69 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 twelve month low of $26.91 and a twelve month high of $42.50. The company’s fifty day moving average is $37.55 and its 200 day moving average is $35.21.

Atlantic Union Bankshares (NASDAQ:AUB) last issued 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 company had revenue of $212.20 million during the quarter, compared to analyst estimates of $216.03 million. Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.95%. The company’s quarterly revenue was up 17.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.74 EPS. Sell-side analysts forecast that Atlantic Union Bankshares Co. will post 3.01 EPS for the current 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 given a $0.32 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.38%. Atlantic Union Bankshares’s dividend payout ratio (DPR) is currently 56.39%.

Wall Street Analyst Weigh In

AUB has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods raised their target price 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 reduced their price objective on Atlantic Union Bankshares from $45.00 to $41.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 2nd. Finally, Hovde Group dropped their target price on 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. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Atlantic Union Bankshares presently has a consensus 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.