The Manufacturers Life Insurance Company Has $61.05 Million Stock Holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB)

The Manufacturers Life Insurance Company lowered its position in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 1.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,620,519 shares of the company's stock after selling 16,193 shares during the period. The Manufacturers Life Insurance Company owned 1.80% of Atlantic Union Bankshares worth $61,045,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. 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 valued at $39,000 after purchasing an additional 489 shares in 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 valued at $42,000 after purchasing an additional 483 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of Atlantic Union Bankshares in the third quarter valued at approximately $56,000. Blue Trust Inc. grew its holdings in Atlantic Union Bankshares by 110.2% during the 3rd quarter. Blue Trust Inc. now owns 2,089 shares of the company's stock worth $79,000 after acquiring an additional 1,095 shares during the period. Finally, Family Firm Inc. acquired a new stake in Atlantic Union Bankshares during the 2nd quarter worth $85,000. Institutional investors and hedge funds own 78.58% of the company's stock.

Atlantic Union Bankshares Stock Down 0.8 %

AUB traded down $0.33 during trading on Thursday, hitting $42.24. The company had a trading volume of 570,570 shares, compared to its average volume of 539,649. The company has a market capitalization of $3.79 billion, a PE ratio of 17.53 and a beta of 0.89. Atlantic Union Bankshares Co. has a one year low of $30.22 and a one year high of $44.54. The firm's 50-day moving average price is $39.09 and its 200 day moving average price is $36.77. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.13.

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

Atlantic Union Bankshares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, November 8th. This is a boost from Atlantic Union Bankshares's previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a yield of 3.22%. Atlantic Union Bankshares's payout ratio is 56.43%.

Wall Street Analyst Weigh In

A number of research firms have commented on AUB. Raymond James lowered their target price on shares of Atlantic Union Bankshares from $45.00 to $41.00 and set an "outperform" rating for the company in a report on Wednesday, October 2nd. Hovde Group lowered their target price 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. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Atlantic Union Bankshares from $42.00 to $46.00 and gave the company 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 issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average 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.