PNC Financial Services Group Inc. Boosts Stock Position in Atlantic Union Bankshares Co. (NASDAQ:AUB)

PNC Financial Services Group Inc. increased its holdings in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 2.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,019 shares of the company’s stock after purchasing an additional 958 shares during the period. PNC Financial Services Group Inc. owned approximately 0.05% of Atlantic Union Bankshares worth $1,847,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its position 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 buying an additional 690,400 shares during the period. Westwood Holdings Group Inc. increased its position in shares of Atlantic Union Bankshares by 1.2% in the second quarter. Westwood Holdings Group Inc. now owns 2,658,342 shares of the company’s stock valued at $87,327,000 after buying an additional 30,586 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of 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 buying an additional 128,447 shares during the period. Bank of New York Mellon Corp lifted its position in shares of 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 valued at $38,770,000 after buying an additional 368,190 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH lifted its position in shares of Atlantic Union Bankshares by 9.6% during the 2nd 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 in the last quarter. 78.58% of the stock is currently owned by institutional investors and hedge funds.

Atlantic Union Bankshares Stock Down 2.3 %

Shares of NASDAQ AUB opened at $42.57 on Wednesday. The stock has a market cap of $3.82 billion, a PE ratio of 17.66 and a beta of 0.89. 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 $30.22 and a 12-month high of $44.54. The company has a 50-day moving average of $38.93 and a 200 day moving average of $36.67.

Atlantic Union Bankshares (NASDAQ:AUB) last posted its quarterly 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. The business had revenue of $358.81 million during the quarter, compared to analyst estimates of $226.70 million. Atlantic Union Bankshares had a return on equity of 8.85% and a net margin of 16.25%. During the same period in the prior year, the business earned $0.80 earnings per share. As a group, sell-side analysts predict that Atlantic Union Bankshares Co. will post 2.93 EPS for the current fiscal year.

Atlantic Union Bankshares Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 3.19%. The ex-dividend date was Friday, November 8th. This is a positive change from Atlantic Union Bankshares’s previous quarterly dividend of $0.32. Atlantic Union Bankshares’s payout ratio is currently 56.43%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AUB. Keefe, Bruyette & Woods upped their price objective on shares of Atlantic Union Bankshares from $42.00 to $46.00 and gave the stock a “market perform” rating in a research report on Friday, November 22nd. Hovde Group reduced their price target 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 decreased their price target on shares of Atlantic Union Bankshares from $45.00 to $41.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $42.00.

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.