Belpointe Asset Management LLC Acquires New Stake in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Belpointe Asset Management LLC bought a new position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB – Get Rating) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,670 shares of the company’s stock, valued at approximately $59,000.

A number of other hedge funds have also recently added to or reduced their stakes in AUB. Price T Rowe Associates Inc. MD increased its stake in shares of Atlantic Union Bankshares by 1.1% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 34,361 shares of the company’s stock worth $1,166,000 after purchasing an additional 360 shares during the last quarter. Covestor Ltd lifted its holdings in Atlantic Union Bankshares by 78.0% during the first quarter. Covestor Ltd now owns 826 shares of the company’s stock valued at $30,000 after purchasing an additional 362 shares during the last quarter. Park Avenue Securities LLC boosted its position in Atlantic Union Bankshares by 4.4% during the third quarter. Park Avenue Securities LLC now owns 10,592 shares of the company’s stock worth $322,000 after purchasing an additional 451 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in shares of Atlantic Union Bankshares by 2.7% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 17,647 shares of the company’s stock worth $536,000 after purchasing an additional 457 shares in the last quarter. Finally, Signaturefd LLC raised its position in shares of Atlantic Union Bankshares by 59.1% in the fourth quarter. Signaturefd LLC now owns 1,362 shares of the company’s stock valued at $48,000 after purchasing an additional 506 shares during the period. Institutional investors and hedge funds own 70.53% of the company’s stock.

Atlantic Union Bankshares Price Performance

Shares of NASDAQ AUB opened at $25.72 on Tuesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.88 and a current ratio of 0.88. The company has a 50 day simple moving average of $30.77 and a two-hundred day simple moving average of $34.34. Atlantic Union Bankshares Co. has a fifty-two week low of $23.32 and a fifty-two week high of $41.04. The company has a market capitalization of $1.93 billion, a price-to-earnings ratio of 8.96 and a beta of 1.04.

Atlantic Union Bankshares (NASDAQ:AUB – Get Rating) last released its earnings results on Tuesday, April 25th. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.18). The company had revenue of $166.90 million during the quarter, compared to the consensus estimate of $190.70 million. Atlantic Union Bankshares had a return on equity of 9.83% and a net margin of 27.04%. The company’s revenue was up 1.5% compared to the same quarter last year. During the same period last year, the firm posted $0.60 earnings per share. Analysts expect that Atlantic Union Bankshares Co. will post 2.77 EPS for the current fiscal year.

Atlantic Union Bankshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 2nd. Shareholders of record on Friday, May 19th will be paid a dividend of $0.30 per share. The ex-dividend date is Thursday, May 18th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.67%. Atlantic Union Bankshares’s dividend payout ratio is currently 41.81%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on AUB shares. Raymond James decreased their target price on shares of Atlantic Union Bankshares from $43.00 to $34.00 in a report on Thursday, April 27th. Keefe, Bruyette & Woods lowered Atlantic Union Bankshares from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $42.00 to $36.00 in a research note on Wednesday, April 5th. Finally, Piper Sandler decreased their price objective on Atlantic Union Bankshares from $38.00 to $32.00 in a report on Monday, May 1st.

Atlantic Union Bankshares Company Profile

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Atlantic Union Bankshares Corp. is a bank holding company, which engages in the provision of financial services. It specializes in offering community banking services. Its services include checking, savings, lending, credit cards, online and mobile banking, treasury management, business eBanking, and wealth management.