Pinnacle Associates Ltd. Boosts Stock Holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Pinnacle Associates Ltd. boosted its holdings in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 8.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 290,468 shares of the company's stock after acquiring an additional 23,087 shares during the quarter. Pinnacle Associates Ltd. owned 0.32% of Atlantic Union Bankshares worth $10,614,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. UMB Bank n.a. grew its stake in 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 in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Atlantic Union Bankshares by 88.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,041 shares of the company's stock worth $39,000 after buying an additional 489 shares during the period. Moors & Cabot Inc. grew its position in shares of Atlantic Union Bankshares by 5.5% during the 2nd quarter. Moors & Cabot Inc. now owns 9,532 shares of the company's stock worth $313,000 after buying an additional 500 shares in the last quarter. Trust Point Inc. increased its stake in shares of Atlantic Union Bankshares by 2.0% during the third quarter. Trust Point Inc. now owns 25,998 shares of the company's stock valued at $979,000 after buying an additional 513 shares during the period. Finally, US Bancorp DE raised its holdings in shares of Atlantic Union Bankshares by 6.8% in the first quarter. US Bancorp DE now owns 12,098 shares of the company's stock valued at $427,000 after acquiring an additional 769 shares in the last quarter. Institutional investors own 78.58% of the company's stock.

Atlantic Union Bankshares Stock Down 1.4 %

NASDAQ AUB traded down $0.55 on Thursday, hitting $37.80. The stock had a trading volume of 814,910 shares, compared to its average volume of 496,964. The business's fifty day moving average price is $37.87 and its 200 day moving average price is $35.60. The stock has a market cap of $3.39 billion, a price-to-earnings ratio of 15.68 and a beta of 0.89. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.90 and a quick ratio of 0.90. Atlantic Union Bankshares Co. has a 52-week low of $28.24 and a 52-week high of $42.50.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last announced its earnings results on Monday, October 21st. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $358.81 million for the quarter, compared to the consensus estimate of $226.70 million. During the same period in the previous year, the business earned $0.80 EPS. Equities research analysts anticipate that Atlantic Union Bankshares Co. will post 3.05 earnings per share for the current year.

Atlantic Union Bankshares Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be given a $0.34 dividend. This is a positive change from Atlantic Union Bankshares's previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a dividend yield of 3.60%. The ex-dividend date of this dividend is Friday, November 8th. Atlantic Union Bankshares's dividend payout ratio (DPR) is presently 56.43%.

Analyst Ratings Changes

A number of research firms have commented on AUB. Keefe, Bruyette & Woods raised their target price on shares of Atlantic Union Bankshares from $35.00 to $38.00 and gave the company a "market perform" rating in a research report on Monday, July 29th. Raymond James cut their price objective on shares of Atlantic Union Bankshares from $45.00 to $41.00 and set an "outperform" rating on the stock in a report on Wednesday, October 2nd. Finally, Hovde Group lowered 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. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Atlantic Union Bankshares presently has an average rating of "Moderate Buy" and a consensus target price of $40.40.

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.