UMB Bank n.a. Boosts Stock Position in Atlantic Union Bankshares Co. (NASDAQ:AUB)

UMB Bank n.a. lifted its position in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 77.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,105 shares of the company’s stock after purchasing an additional 483 shares during the quarter. UMB Bank n.a.’s holdings in Atlantic Union Bankshares were worth $42,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AUB. Vanguard Group Inc. grew its position in Atlantic Union Bankshares by 1.2% during the 4th 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. Dimensional Fund Advisors LP grew its position in Atlantic Union Bankshares by 13.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,681,290 shares of the company’s stock worth $186,626,000 after acquiring an additional 690,400 shares during the last quarter. Westwood Holdings Group Inc. grew its position in Atlantic Union Bankshares by 1.2% during the 2nd quarter. Westwood Holdings Group Inc. now owns 2,658,342 shares of the company’s stock worth $87,327,000 after acquiring an additional 30,586 shares during the last quarter. Victory Capital Management Inc. grew its position in Atlantic Union Bankshares by 8.8% during the 2nd quarter. Victory Capital Management Inc. now owns 1,595,728 shares of the company’s stock worth $52,420,000 after acquiring an additional 128,447 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Atlantic Union Bankshares by 45.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,180,199 shares of the company’s stock worth $38,770,000 after acquiring an additional 368,190 shares during the last quarter. 78.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on AUB shares. Hovde Group cut 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. Keefe, Bruyette & Woods lifted their price objective on 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. Finally, Raymond James cut 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. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Atlantic Union Bankshares has an average rating of “Moderate Buy” and an average target price of $40.40.

Atlantic Union Bankshares Trading Up 1.9 %

AUB opened at $38.61 on Tuesday. The stock has a market cap of $3.47 billion, a PE ratio of 14.19 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. The business has a 50 day moving average of $37.59 and a 200-day moving average of $35.23. Atlantic Union Bankshares Co. has a 52 week low of $26.91 and a 52 week high of $42.50.

Atlantic Union Bankshares (NASDAQ:AUB) last released its earnings results on Thursday, July 25th. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.05). The firm had revenue of $212.20 million during the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.74 EPS. Equities research analysts predict that Atlantic Union Bankshares Co. will post 3.01 earnings per share for the current fiscal year.

Atlantic Union Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend was Friday, August 9th. Atlantic Union Bankshares’s payout ratio is 47.06%.

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.