Atlantic Union Bankshares Co. (NASDAQ:AUB) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 4.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 423,265 shares of the company's stock after selling 19,503 shares during the period. Principal Financial Group Inc. owned approximately 0.47% of Atlantic Union Bankshares worth $15,944,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Deroy & Devereaux Private Investment Counsel Inc. lifted its stake in Atlantic Union Bankshares by 0.7% in the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 131,775 shares of the company's stock worth $4,964,000 after purchasing an additional 885 shares during the last quarter. Pinnacle Associates Ltd. lifted its holdings in Atlantic Union Bankshares by 8.6% in the 3rd quarter. Pinnacle Associates Ltd. now owns 290,468 shares of the company's stock worth $10,614,000 after buying an additional 23,087 shares during the period. Smith Salley Wealth Management grew its position in shares of Atlantic Union Bankshares by 3.9% in the 3rd quarter. Smith Salley Wealth Management now owns 52,892 shares of the company's stock worth $1,992,000 after buying an additional 2,007 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of Atlantic Union Bankshares during the third quarter valued at approximately $7,660,000. Finally, Raymond James & Associates raised its holdings in shares of Atlantic Union Bankshares by 3.9% during the third quarter. Raymond James & Associates now owns 126,157 shares of the company's stock valued at $4,752,000 after acquiring an additional 4,763 shares in the last quarter. 78.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on AUB shares. Keefe, Bruyette & Woods lifted their price target on 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 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. Finally, Hovde Group decreased their price objective on shares of 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 equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $40.40.

Atlantic Union Bankshares Price Performance

Shares of NASDAQ:AUB traded down $0.17 during trading on Friday, hitting $42.48. 1,521,605 shares of the company's stock were exchanged, compared to its average volume of 535,077. Atlantic Union Bankshares Co. has a 52-week low of $30.22 and a 52-week high of $43.57. The business's 50-day simple moving average is $38.36 and its 200 day simple moving average is $36.26. 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 company has a market cap of $3.81 billion, a price-to-earnings ratio of 17.63 and a beta of 0.89.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last announced 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. The company had revenue of $358.81 million during 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 period in the prior year, the company earned $0.80 earnings per share. As a group, equities analysts predict 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 will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 3.20%. This is an increase from Atlantic Union Bankshares's previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, November 8th. Atlantic Union Bankshares's dividend payout ratio (DPR) is 56.43%.

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.