Wesbanco Bank Inc. Purchases 17,035 Shares of Atlantic Union Bankshares Co. (NASDAQ:AUB)

Wesbanco Bank Inc. raised its position in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 37.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 62,700 shares of the company’s stock after purchasing an additional 17,035 shares during the quarter. Wesbanco Bank Inc.’s holdings in Atlantic Union Bankshares were worth $2,375,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Nomura Asset Management Co. Ltd. raised its position in Atlantic Union Bankshares by 78.8% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 930 shares of the company’s stock worth $35,000 after purchasing an additional 410 shares during the last quarter. GAMMA Investing LLC increased its stake 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 buying an additional 489 shares during the period. UMB Bank n.a. raised its position in shares of Atlantic Union Bankshares by 77.7% during the third quarter. UMB Bank n.a. now owns 1,105 shares of the company’s stock worth $42,000 after acquiring an additional 483 shares during the last quarter. Quest Partners LLC acquired a new position in shares of Atlantic Union Bankshares in the third quarter worth approximately $56,000. Finally, Blue Trust Inc. boosted its holdings in Atlantic Union Bankshares by 110.2% in the third 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 last quarter. 78.58% of the stock is owned by institutional investors and hedge funds.

Atlantic Union Bankshares Stock Performance

NASDAQ:AUB opened at $36.60 on Friday. The firm has a market capitalization of $3.29 billion, a P/E ratio of 13.10 and a beta of 0.93. Atlantic Union Bankshares Co. has a twelve month low of $30.43 and a twelve month high of $44.54. The company has a fifty day moving average of $39.55 and a 200-day moving average of $38.65. 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) last announced its quarterly earnings data 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 firm had revenue of $358.81 million for the quarter, compared to analyst estimates of $226.70 million. Atlantic Union Bankshares had a net margin of 16.25% and a return on equity of 8.85%. During the same quarter in the prior year, the business earned $0.80 earnings per share. As a group, sell-side analysts anticipate that Atlantic Union Bankshares Co. will post 2.9 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on AUB. Keefe, Bruyette & Woods raised their price target on shares of Atlantic Union Bankshares from $42.00 to $46.00 and gave the stock a “market perform” rating in a report on Friday, November 22nd. Piper Sandler assumed coverage on shares of Atlantic Union Bankshares in a research note on Monday, January 13th. They set an “overweight” rating and a $51.00 target price for the company. Finally, Raymond James cut their price target on shares of 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. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $44.60.

About Atlantic Union Bankshares

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.