Charles Schwab Investment Management Inc. Buys 77,642 Shares of Atlantic Union Bankshares Co. (NASDAQ:AUB)

Charles Schwab Investment Management Inc. raised its stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 8.7% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 973,480 shares of the company's stock after purchasing an additional 77,642 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.08% of Atlantic Union Bankshares worth $36,671,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Oppenheimer & Co. Inc. boosted its stake in shares of Atlantic Union Bankshares by 5.5% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 8,616 shares of the company's stock worth $325,000 after buying an additional 450 shares during the last quarter. UMB Bank n.a. increased its holdings in shares of Atlantic Union Bankshares by 77.7% in the third quarter. UMB Bank n.a. now owns 1,105 shares of the company's stock worth $42,000 after purchasing an additional 483 shares during the period. GAMMA Investing LLC increased its holdings in shares of Atlantic Union Bankshares by 88.6% in the third quarter. GAMMA Investing LLC now owns 1,041 shares of the company's stock worth $39,000 after purchasing an additional 489 shares during the period. Moors & Cabot Inc. grew its position in Atlantic Union Bankshares by 5.5% in the second quarter. Moors & Cabot Inc. now owns 9,532 shares of the company's stock worth $313,000 after acquiring an additional 500 shares in the last quarter. Finally, Trust Point Inc. grew its position in Atlantic Union Bankshares by 2.0% in the third quarter. Trust Point Inc. now owns 25,998 shares of the company's stock worth $979,000 after acquiring an additional 513 shares in the last quarter. Institutional investors and hedge funds own 78.58% of the company's stock.

Wall Street Analyst Weigh In

AUB has been the subject of several analyst reports. Hovde Group cut 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. Raymond James decreased their price target on shares of Atlantic Union Bankshares from $45.00 to $41.00 and set an "outperform" rating for the company in a research note on Wednesday, October 2nd. Finally, Keefe, Bruyette & Woods increased their price target 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. One analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $42.00.

Atlantic Union Bankshares Stock Performance

NASDAQ:AUB traded down $0.27 during trading hours on Tuesday, reaching $42.79. The company had a trading volume of 925,837 shares, compared to its average volume of 543,598. Atlantic Union Bankshares Co. has a 52 week low of $30.43 and a 52 week high of $44.54. The firm's 50 day moving average price is $39.32 and its 200-day moving average price is $36.98. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.13. The firm has a market cap of $3.84 billion, a price-to-earnings ratio of 14.90 and a beta of 0.91.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last issued its quarterly earnings data on Monday, October 21st. The company reported $0.83 earnings per share (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 firm had revenue of $358.81 million during the quarter, compared to the consensus estimate of $226.70 million. During the same quarter in the previous year, the firm posted $0.80 EPS. On average, analysts forecast that Atlantic Union Bankshares Co. will post 2.93 EPS for the current year.

Atlantic Union Bankshares Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 3.18%. This is a boost from Atlantic Union Bankshares's previous quarterly dividend of $0.32. The ex-dividend date was Friday, November 8th. Atlantic Union Bankshares's dividend payout ratio is currently 56.43%.

Atlantic Union Bankshares 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.