Allspring Global Investments Holdings LLC Grows Position in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Allspring Global Investments Holdings LLC raised its holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 0.1% in the third quarter, Holdings Channel.com reports. The fund owned 274,884 shares of the company’s stock after buying an additional 314 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Atlantic Union Bankshares were worth $10,355,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC lifted its stake 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 valued at $39,000 after purchasing an additional 489 shares during the period. UMB Bank n.a. lifted its position in shares of Atlantic Union Bankshares by 77.7% during the 3rd quarter. UMB Bank n.a. now owns 1,105 shares of the company’s stock valued at $42,000 after acquiring an additional 483 shares during the period. Blue Trust Inc. boosted its stake in shares of Atlantic Union Bankshares by 110.2% during the 3rd quarter. Blue Trust Inc. now owns 2,089 shares of the company’s stock worth $79,000 after acquiring an additional 1,095 shares in the last quarter. Family Firm Inc. acquired a new stake in shares of Atlantic Union Bankshares in the 2nd quarter worth approximately $85,000. Finally, Central Pacific Bank Trust Division acquired a new stake in shares of Atlantic Union Bankshares in the 1st quarter worth approximately $179,000. 78.58% of the stock is currently owned by hedge funds and other institutional investors.

Atlantic Union Bankshares Stock Down 0.8 %

Shares of NASDAQ:AUB opened at $36.81 on Friday. The company has a market capitalization of $3.30 billion, a P/E ratio of 13.53 and a beta of 0.89. The stock’s fifty day simple moving average is $37.82 and its 200-day simple moving average is $35.46. Atlantic Union Bankshares Co. has a 52-week low of $27.63 and a 52-week high of $42.50. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.13.

Atlantic Union Bankshares (NASDAQ:AUB) last released its quarterly earnings results on Monday, October 21st. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.01. The company had revenue of $358.81 million for the quarter, compared to analysts’ expectations of $226.70 million. Atlantic Union Bankshares had a net margin of 16.25% and a return on equity of 8.85%. During the same period last year, the company earned $0.80 EPS. As a group, equities research analysts forecast that Atlantic Union Bankshares Co. will post 3.01 earnings per share for the current fiscal year.

Atlantic Union Bankshares Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be issued a $0.34 dividend. The ex-dividend date is Friday, November 8th. 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 3.69%. Atlantic Union Bankshares’s payout ratio is 47.06%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Raymond James decreased their target price 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. Keefe, Bruyette & Woods boosted 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. Finally, Hovde Group dropped their target price on shares of Atlantic Union Bankshares from $46.00 to $45.00 and set an “outperform” rating for the company in a 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 stock. According to MarketBeat.com, Atlantic Union Bankshares currently has an average rating of “Moderate Buy” and a consensus price target of $40.40.

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.