Atlantic Union Bankshares Co. (NASDAQ:AUB) Stock Position Lifted by Central Pacific Bank Trust Division

Central Pacific Bank Trust Division boosted its stake in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 17.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 4,800 shares of the company’s stock after acquiring an additional 720 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Atlantic Union Bankshares were worth $182,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of AUB. Nomura Asset Management Co. Ltd. raised its holdings in shares of Atlantic Union Bankshares by 78.8% during the third quarter. Nomura Asset Management Co. Ltd. now owns 930 shares of the company’s stock worth $35,000 after acquiring an additional 410 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Atlantic Union Bankshares by 88.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,041 shares of the company’s stock worth $39,000 after purchasing an additional 489 shares in the last quarter. UMB Bank n.a. raised its stake in shares of Atlantic Union Bankshares by 77.7% during the 3rd quarter. UMB Bank n.a. now owns 1,105 shares of the company’s stock worth $42,000 after purchasing an additional 483 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of Atlantic Union Bankshares during the 3rd quarter valued at about $56,000. Finally, Blue Trust Inc. grew its stake in shares of Atlantic Union Bankshares by 110.2% in the 3rd quarter. Blue Trust Inc. now owns 2,089 shares of the company’s stock valued at $79,000 after buying an additional 1,095 shares in the last quarter. Institutional investors and hedge funds own 78.58% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Atlantic Union Bankshares from $42.00 to $46.00 and gave the company a “market perform” rating in a research report on Friday, November 22nd. Raymond James reduced 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 note on Wednesday, October 2nd. Finally, Hovde Group lowered their target price on shares of 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. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.00.

Atlantic Union Bankshares Price Performance

NASDAQ AUB opened at $37.22 on Friday. Atlantic Union Bankshares Co. has a 1 year low of $30.43 and a 1 year high of $44.54. The company has a fifty day simple moving average of $40.42 and a 200 day simple moving average of $38.20. 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 company has a market cap of $3.34 billion, a P/E ratio of 15.44 and a beta of 0.91.

Atlantic Union Bankshares (NASDAQ:AUB) last released 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 company had revenue of $358.81 million during 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 period in the prior year, the company earned $0.80 earnings per share. On average, sell-side analysts predict that Atlantic Union Bankshares Co. will post 2.93 EPS for the current year.

Atlantic Union Bankshares Increases Dividend

The firm 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. The ex-dividend date of this dividend was Friday, November 8th. This is a positive change from Atlantic Union Bankshares’s previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.65%. Atlantic Union Bankshares’s payout ratio is 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.