Louisiana State Employees Retirement System Lowers Stake in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Louisiana State Employees Retirement System cut its stake in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 4.0% during the third quarter, HoldingsChannel reports. The firm owned 43,400 shares of the company’s stock after selling 1,800 shares during the period. Louisiana State Employees Retirement System’s holdings in Atlantic Union Bankshares were worth $1,635,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AUB. Dimensional Fund Advisors LP raised 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 valued at $186,626,000 after acquiring an additional 690,400 shares in the last quarter. Westwood Holdings Group Inc. boosted its stake in shares of Atlantic Union Bankshares by 1.2% during the second quarter. Westwood Holdings Group Inc. now owns 2,658,342 shares of the company’s stock valued at $87,327,000 after purchasing an additional 30,586 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Atlantic Union Bankshares by 8.8% during the second quarter. Victory Capital Management Inc. now owns 1,595,728 shares of the company’s stock valued at $52,420,000 after buying an additional 128,447 shares during the period. Bank of New York Mellon Corp raised its stake 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 worth $38,770,000 after buying an additional 368,190 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH lifted its holdings in Atlantic Union Bankshares by 9.6% during the second quarter. Fort Washington Investment Advisors Inc. OH now owns 612,181 shares of the company’s stock worth $20,110,000 after buying an additional 53,740 shares during the period. Institutional investors own 78.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AUB. Keefe, Bruyette & Woods lifted their price target on Atlantic Union Bankshares from $35.00 to $38.00 and gave the company a “market perform” rating in a report on Monday, July 29th. Hovde Group dropped their target price on Atlantic Union Bankshares from $46.00 to $45.00 and set an “outperform” rating on the stock in a research note on Friday, September 13th. Finally, Raymond James lowered their price target on Atlantic Union Bankshares from $45.00 to $41.00 and set an “outperform” rating for the company in a report on Wednesday, October 2nd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.40.

Atlantic Union Bankshares Stock Down 1.4 %

Atlantic Union Bankshares stock opened at $37.80 on Friday. The business’s 50-day simple moving average is $37.87 and its two-hundred day simple moving average is $35.60. 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 company has a market cap of $3.39 billion, a PE ratio of 15.68 and a beta of 0.89. Atlantic Union Bankshares Co. has a fifty-two week low of $28.24 and a fifty-two week high of $42.50.

Atlantic Union Bankshares (NASDAQ:AUB) last issued its earnings results on Monday, October 21st. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $226.70 million. During the same quarter in the prior year, the firm earned $0.80 earnings per share. Equities analysts anticipate that Atlantic Union Bankshares Co. will post 3.05 EPS for the current year.

Atlantic Union Bankshares Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 3.60%. This is a positive change from Atlantic Union Bankshares’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, November 8th. Atlantic Union Bankshares’s dividend payout ratio is presently 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.