M&T Bank Corp Reduces Stock Position in Atlantic Union Bankshares Co. (NASDAQ:AUB)

M&T Bank Corp trimmed its holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 4.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,897 shares of the company’s stock after selling 506 shares during the period. M&T Bank Corp’s holdings in Atlantic Union Bankshares were worth $373,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP lifted its holdings in shares of Atlantic Union Bankshares by 13.8% in the second quarter. Dimensional Fund Advisors LP now owns 5,681,290 shares of the company’s stock worth $186,626,000 after buying an additional 690,400 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in 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 worth $38,770,000 after acquiring an additional 368,190 shares during the period. Atlantic Union Bankshares Corp lifted its stake in Atlantic Union Bankshares by 64.6% in the 2nd quarter. Atlantic Union Bankshares Corp now owns 458,689 shares of the company’s stock worth $15,066,000 after purchasing an additional 179,951 shares in the last quarter. State Street Corp boosted its holdings in Atlantic Union Bankshares by 3.0% in the 3rd quarter. State Street Corp now owns 4,492,014 shares of the company’s stock valued at $169,214,000 after purchasing an additional 130,104 shares during the period. Finally, Victory Capital Management Inc. grew its position 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 valued at $52,420,000 after purchasing an additional 128,447 shares in the last quarter. Institutional investors own 78.58% of the company’s stock.

Atlantic Union Bankshares Trading Down 5.5 %

NASDAQ AUB opened at $37.46 on Thursday. 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 $3.36 billion, a price-to-earnings ratio of 15.54 and a beta of 0.91. The stock’s 50-day simple moving average is $40.40 and its two-hundred day simple moving average is $37.67. Atlantic Union Bankshares Co. has a twelve month low of $30.43 and a twelve month high of $44.54.

Atlantic Union Bankshares (NASDAQ:AUB) last released its earnings results on Monday, October 21st. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.82 by $0.01. The company 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 last year, the firm earned $0.80 EPS. Research analysts forecast that Atlantic Union Bankshares Co. will post 2.93 EPS for the current fiscal year.

Atlantic Union Bankshares Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.63%. 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 56.43%.

Analysts Set New Price Targets

AUB has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods increased their price objective on 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 lowered their price target on Atlantic Union Bankshares from $46.00 to $45.00 and set an “outperform” rating on the stock in a report on Friday, September 13th. Finally, Raymond James dropped their price target on 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 research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $42.00.

About Atlantic Union Bankshares

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.