Quest Partners LLC Purchases New Stake in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Quest Partners LLC acquired a new position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 1,485 shares of the company’s stock, valued at approximately $56,000.

Several other large investors also recently made changes to their positions in the business. Natixis Advisors LLC increased its holdings in Atlantic Union Bankshares by 24.2% during the 3rd quarter. Natixis Advisors LLC now owns 60,782 shares of the company’s stock worth $2,290,000 after purchasing an additional 11,832 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Atlantic Union Bankshares in the second quarter worth $4,096,000. Bank of New York Mellon Corp raised its holdings in Atlantic Union Bankshares by 45.3% in 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 acquiring an additional 368,190 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Atlantic Union Bankshares in the third quarter valued at $7,660,000. Finally, Pinnacle Associates Ltd. boosted its stake in Atlantic Union Bankshares by 8.6% during the 3rd quarter. Pinnacle Associates Ltd. now owns 290,468 shares of the company’s stock valued at $10,614,000 after acquiring an additional 23,087 shares during the last quarter. Institutional investors and hedge funds own 78.58% of the company’s stock.

Atlantic Union Bankshares Stock Up 0.4 %

Shares of NASDAQ:AUB opened at $42.43 on Friday. Atlantic Union Bankshares Co. has a 1-year low of $30.22 and a 1-year high of $44.54. The company’s fifty day moving average is $39.23 and its two-hundred day moving average is $36.88. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market capitalization of $3.81 billion, a price-to-earnings ratio of 17.61 and a beta of 0.89.

Atlantic Union Bankshares (NASDAQ:AUB) last released its quarterly earnings data on Monday, October 21st. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.01. The firm had revenue of $358.81 million for the quarter, compared to analyst estimates 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 in the prior year, the business earned $0.80 earnings per share. Equities analysts anticipate that Atlantic Union Bankshares Co. will post 2.93 EPS for the current year.

Atlantic Union Bankshares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were given a dividend of $0.34 per share. The ex-dividend date was Friday, November 8th. This represents a $1.36 dividend on an annualized basis and a yield of 3.21%. 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

AUB has been the subject of several research analyst reports. Raymond James dropped their target price 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. Hovde Group lowered their price objective 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. Finally, Keefe, Bruyette & Woods increased their target price on Atlantic Union Bankshares from $42.00 to $46.00 and gave the stock a “market perform” rating in a report on Friday, November 22nd. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently 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.