US Bancorp DE Cuts Stock Position in Atlantic Union Bankshares Co. (NASDAQ:AUB)

US Bancorp DE lowered its position in Atlantic Union Bankshares Co. (NASDAQ:AUBGet Rating) by 5.4% during the third quarter, Holdings Channel reports. The institutional investor owned 12,204 shares of the company’s stock after selling 699 shares during the quarter. US Bancorp DE’s holdings in Atlantic Union Bankshares were worth $372,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Raymond James & Associates boosted its stake in Atlantic Union Bankshares by 15.3% in the 1st quarter. Raymond James & Associates now owns 90,842 shares of the company’s stock worth $3,333,000 after purchasing an additional 12,059 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Atlantic Union Bankshares by 1.7% in the 1st quarter. Bank of New York Mellon Corp now owns 533,921 shares of the company’s stock worth $19,590,000 after purchasing an additional 9,157 shares in the last quarter. American Century Companies Inc. boosted its stake in Atlantic Union Bankshares by 49.6% in the 1st quarter. American Century Companies Inc. now owns 64,350 shares of the company’s stock worth $2,361,000 after purchasing an additional 21,347 shares in the last quarter. Natixis Advisors L.P. boosted its stake in Atlantic Union Bankshares by 12.1% in the 1st quarter. Natixis Advisors L.P. now owns 31,567 shares of the company’s stock worth $1,158,000 after purchasing an additional 3,403 shares in the last quarter. Finally, Bank of Montreal Can acquired a new stake in Atlantic Union Bankshares in the 1st quarter worth approximately $501,000. Hedge funds and other institutional investors own 70.53% of the company’s stock.

Analyst Upgrades and Downgrades

AUB has been the subject of a number of recent analyst reports. Piper Sandler reiterated an “overweight” rating and issued a $42.00 target price on shares of Atlantic Union Bankshares in a research note on Monday, December 5th. Hovde Group began coverage on shares of Atlantic Union Bankshares in a research note on Tuesday, November 29th. They set an “outperform” rating and a $41.00 price objective for the company.

Atlantic Union Bankshares Stock Performance

Shares of NASDAQ AUB opened at $36.55 on Tuesday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.17. Atlantic Union Bankshares Co. has a 12 month low of $30.26 and a 12 month high of $42.00. The company has a 50 day simple moving average of $35.40 and a two-hundred day simple moving average of $34.16. The stock has a market cap of $2.73 billion, a price-to-earnings ratio of 13.74 and a beta of 1.03.

Atlantic Union Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 25th. Shareholders of record on Friday, November 11th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend was Wednesday, November 9th. Atlantic Union Bankshares’s payout ratio is 45.11%.

Insider Buying and Selling at Atlantic Union Bankshares

In other news, EVP Robert Michael Gorman bought 3,200 shares of the firm’s stock in a transaction that occurred on Tuesday, November 1st. The stock was purchased at an average cost of $34.51 per share, for a total transaction of $110,432.00. Following the purchase, the executive vice president now directly owns 53,171 shares in the company, valued at approximately $1,834,931.21. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO John C. Asbury bought 7,235 shares of the firm’s stock in a transaction that occurred on Tuesday, November 1st. The stock was purchased at an average cost of $34.48 per share, for a total transaction of $249,462.80. Following the purchase, the chief executive officer now directly owns 171,463 shares in the company, valued at approximately $5,912,044.24. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Robert Michael Gorman purchased 3,200 shares of the business’s stock in a transaction that occurred on Tuesday, November 1st. The stock was bought at an average cost of $34.51 per share, with a total value of $110,432.00. Following the acquisition, the executive vice president now owns 53,171 shares in the company, valued at approximately $1,834,931.21. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 25,435 shares of company stock worth $882,345. Company insiders own 1.01% of the company’s stock.

Atlantic Union Bankshares Company Profile

(Get Rating)

Atlantic Union Bankshares Corporation operates as the holding company for Atlantic Union Bank that provides banking and related financial services to consumers and businesses. The company accepts various deposit products, including checking, savings, NOW, time deposit, and money market accounts; certificates of deposit; and other depository services.

See Also

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Institutional Ownership by Quarter for Atlantic Union Bankshares (NASDAQ:AUB)

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