Oppenheimer Asset Management Inc. Sells 337 Shares of Atlantic Union Bankshares Co. (NASDAQ:AUB)

Oppenheimer Asset Management Inc. cut its holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 1.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,807 shares of the company’s stock after selling 337 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Atlantic Union Bankshares were worth $897,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of AUB. Dimensional Fund Advisors LP boosted its holdings in Atlantic Union Bankshares by 13.8% during the second quarter. Dimensional Fund Advisors LP now owns 5,681,290 shares of the company’s stock valued at $186,626,000 after acquiring an additional 690,400 shares during the period. Westwood Holdings Group Inc. boosted its holdings in Atlantic Union Bankshares by 1.2% during the second quarter. Westwood Holdings Group Inc. now owns 2,658,342 shares of the company’s stock valued at $87,327,000 after acquiring an additional 30,586 shares during the period. Victory Capital Management Inc. raised its position in shares of Atlantic Union Bankshares by 8.8% during the second quarter. Victory Capital Management Inc. now owns 1,595,728 shares of the company’s stock valued at $52,420,000 after buying an additional 128,447 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Atlantic Union Bankshares by 45.3% during the second quarter. Bank of New York Mellon Corp now owns 1,180,199 shares of the company’s stock valued at $38,770,000 after buying an additional 368,190 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH raised its position in shares of Atlantic Union Bankshares by 9.6% during the second quarter. Fort Washington Investment Advisors Inc. OH now owns 612,181 shares of the company’s stock valued at $20,110,000 after buying an additional 53,740 shares during the last quarter. 78.58% of the stock is currently owned by institutional investors.

Atlantic Union Bankshares Stock Performance

NASDAQ AUB opened at $42.10 on Tuesday. Atlantic Union Bankshares Co. has a 1-year low of $30.22 and a 1-year high of $43.57. The company has a 50 day moving average of $38.45 and a 200-day moving average of $36.38. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.13. The firm has a market cap of $3.78 billion, a price-to-earnings ratio of 17.47 and a beta of 0.89.

Atlantic Union Bankshares (NASDAQ:AUB) last posted its earnings results on Monday, October 21st. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.01. Atlantic Union Bankshares had a net margin of 16.25% and a return on equity of 8.85%. The company had revenue of $358.81 million during the quarter, compared to analysts’ expectations of $226.70 million. During the same quarter in the previous year, the company posted $0.80 earnings per share. On average, equities analysts forecast that Atlantic Union Bankshares Co. will post 2.93 earnings per share for the current fiscal year.

Atlantic Union Bankshares Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be paid a $0.34 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.23%. This is a boost from Atlantic Union Bankshares’s previous quarterly dividend of $0.32. Atlantic Union Bankshares’s payout ratio is 56.43%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AUB. Keefe, Bruyette & Woods upped their price objective 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. Hovde Group cut their price objective on shares of 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. Finally, Raymond James cut their price objective on shares of Atlantic Union Bankshares from $45.00 to $41.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Atlantic Union Bankshares has a consensus rating of “Moderate Buy” and a consensus target price 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.