State of New Jersey Common Pension Fund D Cuts Stock Position in Atlantic Union Bankshares Co. (NASDAQ:AUB)

State of New Jersey Common Pension Fund D reduced its position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 6.2% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 54,144 shares of the company’s stock after selling 3,558 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Atlantic Union Bankshares were worth $2,040,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Atria Investments Inc bought a new stake in Atlantic Union Bankshares in the 3rd quarter worth about $207,000. Deroy & Devereaux Private Investment Counsel Inc. grew its stake in shares of Atlantic Union Bankshares by 0.7% in the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 131,775 shares of the company’s stock worth $4,964,000 after acquiring an additional 885 shares during the period. Pinnacle Associates Ltd. raised its holdings in shares of Atlantic Union Bankshares by 8.6% during the third quarter. Pinnacle Associates Ltd. now owns 290,468 shares of the company’s stock valued at $10,614,000 after purchasing an additional 23,087 shares during the last quarter. Smith Salley Wealth Management lifted its position in Atlantic Union Bankshares by 3.9% during the third quarter. Smith Salley Wealth Management now owns 52,892 shares of the company’s stock valued at $1,992,000 after purchasing an additional 2,007 shares during the period. Finally, International Assets Investment Management LLC purchased a new stake in Atlantic Union Bankshares in the third quarter worth approximately $7,660,000. 78.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AUB has been the topic of several research analyst reports. Raymond James lowered their price target on Atlantic Union Bankshares from $45.00 to $41.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. Hovde Group dropped their target price 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. Finally, Keefe, Bruyette & Woods boosted their price target on Atlantic Union Bankshares from $35.00 to $38.00 and gave the company a “market perform” rating in a research note on Monday, July 29th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $40.40.

Atlantic Union Bankshares Stock Down 0.4 %

NASDAQ AUB opened at $42.48 on Friday. Atlantic Union Bankshares Co. has a 52 week low of $30.22 and a 52 week high of $43.57. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $3.81 billion, a P/E ratio of 17.63 and a beta of 0.89. The stock’s 50-day moving average price is $38.36 and its 200-day moving average price is $36.29.

Atlantic Union Bankshares (NASDAQ:AUB) last released its earnings results on Monday, October 21st. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates 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 quarter last year, the business earned $0.80 EPS. On average, equities research analysts predict that Atlantic Union Bankshares Co. will post 2.93 earnings per share for the current year.

Atlantic Union Bankshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 3.20%. This is an increase from Atlantic Union Bankshares’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, November 8th. Atlantic Union Bankshares’s payout ratio is presently 56.43%.

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.