Park Avenue Securities LLC grew its holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB – Free Report) by 62.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 11,559 shares of the company’s stock after buying an additional 4,433 shares during the quarter. Park Avenue Securities LLC’s holdings in Atlantic Union Bankshares were worth $438,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of the business. State Street Corp grew its stake 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 worth $169,214,000 after acquiring an additional 130,104 shares during the period. Geode Capital Management LLC increased its position in shares of Atlantic Union Bankshares by 0.7% in the third quarter. Geode Capital Management LLC now owns 2,065,862 shares of the company’s stock worth $77,836,000 after acquiring an additional 14,823 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Atlantic Union Bankshares by 20.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,621,527 shares of the company’s stock valued at $62,607,000 after acquiring an additional 270,470 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Atlantic Union Bankshares by 8.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 973,480 shares of the company’s stock valued at $36,671,000 after acquiring an additional 77,642 shares in the last quarter. Finally, Jennison Associates LLC boosted its position in Atlantic Union Bankshares by 21.1% during the 3rd quarter. Jennison Associates LLC now owns 536,814 shares of the company’s stock worth $20,222,000 after purchasing an additional 93,664 shares during the period. 78.58% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on AUB. Raymond James lowered 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. Piper Sandler initiated coverage on shares of Atlantic Union Bankshares in a report on Monday, January 13th. They set an “overweight” rating and a $51.00 price target for the company. Finally, Keefe, Bruyette & Woods boosted 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 report on Friday, November 22nd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.60.
Atlantic Union Bankshares Stock Performance
Shares of AUB opened at $36.60 on Friday. Atlantic Union Bankshares Co. has a one year low of $30.43 and a one year high of $44.54. The company has a 50-day moving average of $39.55 and a two-hundred day moving average of $38.65. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market cap of $3.29 billion, a price-to-earnings ratio of 15.19 and a beta of 0.93.
Atlantic Union Bankshares (NASDAQ:AUB – Get Free Report) last announced its quarterly earnings data on Monday, October 21st. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.01. Atlantic Union Bankshares had a return on equity of 8.85% and a net margin of 16.25%. The firm had revenue of $358.81 million during the quarter, compared to the consensus estimate of $226.70 million. During the same period in the prior year, the business earned $0.80 EPS. On average, equities research analysts expect that Atlantic Union Bankshares Co. will post 2.9 earnings per share for the current year.
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.
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