BNP Paribas Financial Markets Raises Stake in Atlantic Union Bankshares Co. (NASDAQ:AUB)

BNP Paribas Financial Markets raised its position in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 95.5% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 35,346 shares of the company's stock after purchasing an additional 17,265 shares during the period. BNP Paribas Financial Markets' holdings in Atlantic Union Bankshares were worth $1,331,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its position in Atlantic Union Bankshares by 13.8% during the second quarter. Dimensional Fund Advisors LP now owns 5,681,290 shares of the company's stock worth $186,626,000 after buying an additional 690,400 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Atlantic Union Bankshares by 45.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,180,199 shares of the company's stock worth $38,770,000 after acquiring an additional 368,190 shares during the period. Atlantic Union Bankshares Corp boosted its position in shares of Atlantic Union Bankshares by 64.6% during the 2nd quarter. Atlantic Union Bankshares Corp now owns 458,689 shares of the company's stock valued at $15,066,000 after acquiring an additional 179,951 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Atlantic Union Bankshares by 8.8% in the second quarter. Victory Capital Management Inc. now owns 1,595,728 shares of the company's stock valued at $52,420,000 after purchasing an additional 128,447 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in Atlantic Union Bankshares during the second quarter worth about $4,096,000. Institutional investors and hedge funds own 78.58% of the company's stock.

Atlantic Union Bankshares Trading Down 0.6 %

NASDAQ AUB traded down $0.27 on Tuesday, reaching $41.91. The stock had a trading volume of 525,514 shares, compared to its average volume of 548,136. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.13. The stock has a fifty day moving average price of $39.83 and a two-hundred day moving average price of $37.29. Atlantic Union Bankshares Co. has a 12-month low of $30.43 and a 12-month high of $44.54. The firm has a market capitalization of $3.76 billion, a price-to-earnings ratio of 17.50 and a beta of 0.91.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last posted its earnings results on Monday, October 21st. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.01. The firm had revenue of $358.81 million for the quarter, compared to analyst estimates of $226.70 million. Atlantic Union Bankshares had a return on equity of 8.85% and a net margin of 16.25%. During the same quarter in the prior year, the company earned $0.80 EPS. As a group, sell-side 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 announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were paid a dividend of $0.34 per share. This is an increase from Atlantic Union Bankshares's previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend was Friday, November 8th. Atlantic Union Bankshares's dividend payout ratio is presently 56.43%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Atlantic Union Bankshares from $42.00 to $46.00 and gave the company a "market perform" rating in a report on Friday, November 22nd. Hovde Group lowered their price objective on 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. Finally, Raymond James reduced their target price on Atlantic Union Bankshares from $45.00 to $41.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $42.00.

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.