Atlantic Union Bankshares Co. (NASDAQ:AUB) Shares Purchased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. raised its holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 2.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,019 shares of the company’s stock after purchasing an additional 958 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Atlantic Union Bankshares were worth $1,847,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. GAMMA Investing LLC increased its holdings in Atlantic Union Bankshares by 88.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,041 shares of the company’s stock valued at $39,000 after purchasing an additional 489 shares during the last quarter. UMB Bank n.a. boosted its position in shares of Atlantic Union Bankshares by 77.7% during the third quarter. UMB Bank n.a. now owns 1,105 shares of the company’s stock worth $42,000 after buying an additional 483 shares during the period. Quest Partners LLC acquired a new stake in shares of Atlantic Union Bankshares in the third quarter valued at $56,000. Blue Trust Inc. raised its holdings 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 during the period. Finally, Family Firm Inc. purchased a new position in Atlantic Union Bankshares during the 2nd quarter valued at about $85,000. Institutional investors and hedge funds own 78.58% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on AUB shares. Raymond James cut their price target on shares of Atlantic Union Bankshares from $45.00 to $41.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 2nd. Keefe, Bruyette & Woods upped their target price on shares of Atlantic Union Bankshares from $42.00 to $46.00 and gave the stock a “market perform” rating in a research note on Friday, November 22nd. Finally, Hovde Group decreased their price target on shares of Atlantic Union Bankshares from $46.00 to $45.00 and set an “outperform” rating for the company in a research report on Friday, September 13th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $42.00.

Atlantic Union Bankshares Stock Performance

Shares of Atlantic Union Bankshares stock opened at $42.57 on Wednesday. The business has a 50-day simple moving average of $38.93 and a 200-day simple moving average of $36.67. The company has a market cap of $3.82 billion, a PE ratio of 17.66 and a beta of 0.89. Atlantic Union Bankshares Co. has a one year low of $30.22 and a one year high of $44.54. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.90 and a current ratio of 0.90.

Atlantic Union Bankshares (NASDAQ:AUB) last announced its quarterly earnings data 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 net margin of 16.25% and a return on equity of 8.85%. The company had revenue of $358.81 million for the quarter, compared to the consensus estimate of $226.70 million. During the same period in the prior year, the firm posted $0.80 EPS. On average, equities research analysts forecast that Atlantic Union Bankshares Co. will post 2.93 EPS for the current fiscal year.

Atlantic Union Bankshares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were paid a $0.34 dividend. The ex-dividend date was Friday, November 8th. This is a boost from Atlantic Union Bankshares’s previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a yield of 3.19%. Atlantic Union Bankshares’s dividend payout ratio (DPR) is currently 56.43%.

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.