Russell Investments Group Ltd. Decreases Stock Holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Russell Investments Group Ltd. reduced its stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB – Get Rating) by 7.6% in the fourth quarter, HoldingsChannel reports. The firm owned 43,521 shares of the company’s stock after selling 3,565 shares during the period. Russell Investments Group Ltd.’s holdings in Atlantic Union Bankshares were worth $1,529,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Signaturefd LLC lifted its stake in shares of Atlantic Union Bankshares by 59.1% during the 4th quarter. Signaturefd LLC now owns 1,362 shares of the company’s stock worth $48,000 after purchasing an additional 506 shares during the last quarter. ProShare Advisors LLC boosted its holdings in Atlantic Union Bankshares by 3.8% in the fourth quarter. ProShare Advisors LLC now owns 260,985 shares of the company’s stock worth $9,171,000 after acquiring an additional 9,541 shares in the last quarter. White Pine Capital LLC boosted its holdings in Atlantic Union Bankshares by 24.4% in the third quarter. White Pine Capital LLC now owns 57,819 shares of the company’s stock worth $1,757,000 after acquiring an additional 11,343 shares in the last quarter. Heritage Wealth Management LLC boosted its holdings in Atlantic Union Bankshares by 11.5% in the third quarter. Heritage Wealth Management LLC now owns 9,411 shares of the company’s stock worth $286,000 after acquiring an additional 974 shares in the last quarter. Finally, RK Capital Management LLC boosted its holdings in Atlantic Union Bankshares by 29.7% in the third quarter. RK Capital Management LLC now owns 238,800 shares of the company’s stock worth $7,255,000 after acquiring an additional 54,700 shares in the last quarter. 70.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Atlantic Union Bankshares Trading Up 3.3 %

Atlantic Union Bankshares stock opened at $26.56 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.16. Atlantic Union Bankshares Co. has a 52 week low of $23.32 and a 52 week high of $41.04. The company has a market capitalization of $1.99 billion, a price-to-earnings ratio of 9.25 and a beta of 1.04. The stock has a 50-day moving average price of $30.58 and a 200 day moving average price of $34.29.

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

Atlantic Union Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 2nd. Investors of record on Friday, May 19th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 4.52%. The ex-dividend date of this dividend is Thursday, May 18th. Atlantic Union Bankshares’s dividend payout ratio is currently 41.81%.

About Atlantic Union Bankshares

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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.