MQS Management LLC Reduces Stock Holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB)

MQS Management LLC reduced its position in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 52.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,953 shares of the company’s stock after selling 6,504 shares during the quarter. MQS Management LLC’s holdings in Atlantic Union Bankshares were worth $224,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC lifted its stake in shares of Atlantic Union Bankshares by 88.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,041 shares of the company’s stock valued at $39,000 after buying an additional 489 shares in the last quarter. UMB Bank n.a. raised its holdings in Atlantic Union Bankshares by 77.7% during the 3rd quarter. UMB Bank n.a. now owns 1,105 shares of the company’s stock valued at $42,000 after acquiring an additional 483 shares during the period. Blue Trust Inc. raised 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 valued at $79,000 after acquiring an additional 1,095 shares during the period. Family Firm Inc. bought a new stake in Atlantic Union Bankshares during the 2nd quarter valued at $85,000. Finally, EMC Capital Management purchased a new position in shares of Atlantic Union Bankshares in the first quarter valued at $199,000. 78.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AUB has been the topic of a number of analyst reports. Keefe, Bruyette & Woods boosted their price objective on Atlantic Union Bankshares from $35.00 to $38.00 and gave the company a “market perform” rating in a research note on Monday, July 29th. Raymond James decreased their price objective on Atlantic Union Bankshares from $45.00 to $41.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 2nd. Finally, Hovde Group decreased their target price on Atlantic Union Bankshares from $46.00 to $45.00 and set an “outperform” rating on the stock in a research note on Friday, September 13th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Atlantic Union Bankshares has an average rating of “Moderate Buy” and an average target price of $40.40.

Atlantic Union Bankshares Price Performance

AUB opened at $42.48 on Friday. The stock has a 50-day moving average price of $38.36 and a 200-day moving average price of $36.26. Atlantic Union Bankshares Co. has a 12-month low of $30.22 and a 12-month high of $43.57. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $3.81 billion, a P/E ratio of 17.63 and a beta of 0.89.

Atlantic Union Bankshares (NASDAQ:AUB) last issued its earnings results on Monday, October 21st. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.01. The company had revenue of $358.81 million during the quarter, compared to analysts’ expectations 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 business posted $0.80 EPS. Equities analysts predict that Atlantic Union Bankshares Co. will post 2.93 earnings per share for the current fiscal year.

Atlantic Union Bankshares Increases Dividend

The company 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 $0.34 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.36 annualized dividend and a dividend yield of 3.20%. This is a positive change from Atlantic Union Bankshares’s previous quarterly dividend of $0.32. Atlantic Union Bankshares’s dividend payout ratio is currently 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.