Principal Financial Group Inc. Sells 19,503 Shares of Atlantic Union Bankshares Co. (NASDAQ:AUB)

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

Other hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP increased its holdings in shares of 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 valued at $186,626,000 after acquiring an additional 690,400 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Atlantic Union Bankshares by 45.3% in the second quarter. Bank of New York Mellon Corp now owns 1,180,199 shares of the company's stock worth $38,770,000 after buying an additional 368,190 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Atlantic Union Bankshares by 20.0% in the third quarter. Franklin Resources Inc. now owns 1,621,527 shares of the company's stock worth $62,607,000 after buying an additional 270,470 shares in the last quarter. State Street Corp grew its holdings in shares of Atlantic Union Bankshares by 3.0% during the third quarter. State Street Corp now owns 4,492,014 shares of the company's stock valued at $169,214,000 after buying an additional 130,104 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Atlantic Union Bankshares by 8.8% during the second quarter. Victory Capital Management Inc. now owns 1,595,728 shares of the company's stock valued at $52,420,000 after acquiring an additional 128,447 shares in the last quarter. Institutional investors own 78.58% of the company's stock.

Atlantic Union Bankshares Stock Performance

Shares of NASDAQ AUB traded down $0.55 during midday trading on Friday, hitting $38.08. 587,801 shares of the stock traded hands, compared to its average volume of 562,649. The firm has a market capitalization of $3.42 billion, a P/E ratio of 15.80 and a beta of 0.91. Atlantic Union Bankshares Co. has a one year low of $30.43 and a one year high of $44.54. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a 50-day moving average of $40.33 and a two-hundred day moving average of $37.99.

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 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 company had revenue of $358.81 million for the quarter, compared to the consensus estimate of $226.70 million. During the same quarter in the prior year, the company earned $0.80 earnings per share. On average, equities 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 given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 3.57%. This is a positive change from Atlantic Union Bankshares's previous quarterly dividend of $0.32. The ex-dividend date was Friday, November 8th. Atlantic Union Bankshares's payout ratio is 56.43%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AUB. Raymond James lowered their price objective 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. Hovde Group lowered their price target on Atlantic Union Bankshares from $46.00 to $45.00 and set an "outperform" rating on the stock in a report on Friday, September 13th. Finally, Keefe, Bruyette & Woods lifted their price objective on Atlantic Union Bankshares from $42.00 to $46.00 and gave the stock a "market perform" rating in a report on Friday, November 22nd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $42.00.

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.