Geode Capital Management LLC Increases Stock Position in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Geode Capital Management LLC increased its position in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 0.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,065,862 shares of the company’s stock after buying an additional 14,823 shares during the quarter. Geode Capital Management LLC owned about 2.30% of Atlantic Union Bankshares worth $77,836,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Barclays PLC raised its holdings in shares of Atlantic Union Bankshares by 132.3% in the 3rd quarter. Barclays PLC now owns 186,876 shares of the company’s stock worth $7,039,000 after purchasing an additional 106,415 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings in Atlantic Union Bankshares by 78.8% in the third quarter. Nomura Asset Management Co. Ltd. now owns 930 shares of the company’s stock valued at $35,000 after buying an additional 410 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in Atlantic Union Bankshares during the third quarter valued at approximately $563,000. MML Investors Services LLC grew its stake in Atlantic Union Bankshares by 11.0% during the third quarter. MML Investors Services LLC now owns 8,797 shares of the company’s stock worth $331,000 after buying an additional 869 shares during the period. Finally, State Street Corp grew its stake in Atlantic Union Bankshares by 3.0% during the third quarter. State Street Corp now owns 4,492,014 shares of the company’s stock worth $169,214,000 after buying an additional 130,104 shares during the period. 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 AUB shares. Raymond James reduced their target price on shares of Atlantic Union Bankshares from $45.00 to $41.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. Keefe, Bruyette & Woods upped their target price 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. Finally, 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 report on Friday, September 13th. 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

Atlantic Union Bankshares Stock Performance

Shares of AUB stock opened at $37.84 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.90 and a quick ratio of 0.90. Atlantic Union Bankshares Co. has a 12 month low of $30.43 and a 12 month high of $44.54. The company’s fifty day moving average price is $40.41 and its two-hundred day moving average price is $37.66. The firm has a market capitalization of $3.40 billion, a P/E ratio of 15.70 and a beta of 0.91.

Atlantic Union Bankshares (NASDAQ:AUB) last posted its quarterly earnings results on Monday, October 21st. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.01. Atlantic Union Bankshares had a net margin of 16.25% and a return on equity of 8.85%. The firm had revenue of $358.81 million for the quarter, compared to analysts’ expectations of $226.70 million. During the same period in the prior year, the company posted $0.80 earnings per share. On average, research analysts anticipate that Atlantic Union Bankshares Co. will post 2.93 earnings per share for the current fiscal year.

Atlantic Union Bankshares Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.36 annualized dividend and a yield of 3.59%. This is a boost from Atlantic Union Bankshares’s previous quarterly dividend of $0.32. Atlantic Union Bankshares’s dividend payout ratio is presently 56.43%.

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.