Raymond James & Associates Purchases 4,763 Shares of Atlantic Union Bankshares Co. (NASDAQ:AUB)

Raymond James & Associates boosted its holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 3.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 126,157 shares of the company’s stock after buying an additional 4,763 shares during the quarter. Raymond James & Associates’ holdings in Atlantic Union Bankshares were worth $4,752,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Blue Trust Inc. raised its position in shares of Atlantic Union Bankshares by 110.2% during the third quarter. Blue Trust Inc. now owns 2,089 shares of the company’s stock worth $79,000 after acquiring an additional 1,095 shares during the last quarter. Trust Point Inc. raised its holdings in Atlantic Union Bankshares by 2.0% during the 3rd quarter. Trust Point Inc. now owns 25,998 shares of the company’s stock worth $979,000 after purchasing an additional 513 shares during the last quarter. ZWJ Investment Counsel Inc. acquired a new position in shares of Atlantic Union Bankshares in the 3rd quarter worth approximately $202,000. Heritage Family Offices LLP bought a new stake in shares of Atlantic Union Bankshares in the 3rd quarter valued at $224,000. Finally, Creative Planning increased its position in shares of Atlantic Union Bankshares by 20.5% during the third quarter. Creative Planning now owns 13,159 shares of the company’s stock worth $496,000 after buying an additional 2,240 shares during the period. 78.58% of the stock is currently owned by institutional investors and hedge funds.

Atlantic Union Bankshares Stock Performance

NASDAQ AUB opened at $37.61 on Friday. The company has a market cap of $3.38 billion, a P/E ratio of 15.61 and a beta of 0.89. The company has a fifty day simple moving average of $37.84 and a 200 day simple moving average of $35.64. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.13. Atlantic Union Bankshares Co. has a 12-month low of $29.24 and a 12-month high of $42.50.

Atlantic Union Bankshares (NASDAQ:AUB) last released its quarterly earnings results on Monday, October 21st. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $358.81 million during the quarter, compared to analyst estimates of $226.70 million. During the same period in the prior year, the firm posted $0.80 EPS. Sell-side analysts predict that Atlantic Union Bankshares Co. will post 3.05 earnings per share for the current fiscal year.

Atlantic Union Bankshares Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, November 8th. This is a positive change from Atlantic Union Bankshares’s previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a dividend yield of 3.62%. Atlantic Union Bankshares’s dividend payout ratio (DPR) is currently 53.11%.

Analyst Upgrades and Downgrades

AUB has been the topic of several recent analyst reports. Keefe, Bruyette & Woods boosted 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 report on Monday, July 29th. Raymond James cut 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. Finally, Hovde Group lowered their target price on 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 equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.