Geode Capital Management LLC Increases Position in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Geode Capital Management LLC grew its stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 0.7% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 2,065,862 shares of the company's stock after purchasing an additional 14,823 shares during the period. Geode Capital Management LLC owned about 2.30% of Atlantic Union Bankshares worth $77,836,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Barclays PLC grew its stake in Atlantic Union Bankshares by 132.3% in the 3rd quarter. Barclays PLC now owns 186,876 shares of the company's stock valued at $7,039,000 after purchasing an additional 106,415 shares during the period. Nomura Asset Management Co. Ltd. increased its position in Atlantic Union Bankshares by 78.8% in the third quarter. Nomura Asset Management Co. Ltd. now owns 930 shares of the company's stock worth $35,000 after buying an additional 410 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Atlantic Union Bankshares in the third quarter valued at $563,000. MML Investors Services LLC lifted its position in shares of Atlantic Union Bankshares by 11.0% during the 3rd quarter. MML Investors Services LLC now owns 8,797 shares of the company's stock valued at $331,000 after buying an additional 869 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Atlantic Union Bankshares by 3.0% during the 3rd quarter. State Street Corp now owns 4,492,014 shares of the company's stock worth $169,214,000 after acquiring an additional 130,104 shares during the period. 78.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on AUB shares. Hovde Group reduced their target price on Atlantic Union Bankshares from $46.00 to $45.00 and set an "outperform" rating for the company in a report on Friday, September 13th. Keefe, Bruyette & Woods increased their target price 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. Finally, Raymond James reduced 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 report on Wednesday, October 2nd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Atlantic Union Bankshares currently has an average rating of "Moderate Buy" and an average target price of $42.00.

Atlantic Union Bankshares Trading Up 1.9 %

AUB traded up $0.69 during trading on Friday, hitting $37.84. 2,326,612 shares of the stock traded hands, compared to its average volume of 563,711. The firm has a market capitalization of $3.40 billion, a P/E ratio of 15.70 and a beta of 0.91. Atlantic Union Bankshares Co. has a 12-month low of $30.43 and a 12-month high of $44.54. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a 50-day moving average of $40.41 and a 200 day moving average of $37.66.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last released its quarterly earnings results on Monday, October 21st. The company reported $0.83 EPS for the quarter, beating analysts' consensus estimates of $0.82 by $0.01. Atlantic Union Bankshares had a return on equity of 8.85% and a net margin of 16.25%. The business had revenue of $358.81 million during the quarter, compared to analyst estimates of $226.70 million. During the same quarter in the prior year, the company posted $0.80 EPS. Equities research analysts anticipate that Atlantic Union Bankshares Co. will post 2.93 EPS for the current year.

Atlantic Union Bankshares Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were paid a $0.34 dividend. This is an increase from Atlantic Union Bankshares's previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date was Friday, November 8th. Atlantic Union Bankshares's dividend payout ratio is presently 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.