Royce & Associates LP Has $4.29 Million Stock Holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Royce & Associates LP lowered its stake in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 15.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 114,000 shares of the company’s stock after selling 21,280 shares during the quarter. Royce & Associates LP’s holdings in Atlantic Union Bankshares were worth $4,294,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Board of Administration of Florida Retirement System increased its stake in Atlantic Union Bankshares by 68.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 36,209 shares of the company’s stock valued at $1,269,000 after purchasing an additional 14,760 shares in the last quarter. Edgestream Partners L.P. bought a new stake in shares of Atlantic Union Bankshares in the 1st quarter valued at $783,000. Sei Investments Co. raised its stake in Atlantic Union Bankshares by 83.7% during the 1st quarter. Sei Investments Co. now owns 160,775 shares of the company’s stock worth $5,677,000 after buying an additional 73,262 shares during the period. Renaissance Technologies LLC bought a new position in Atlantic Union Bankshares during the second quarter worth about $4,096,000. Finally, Bank of New York Mellon Corp grew its stake 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 valued at $38,770,000 after acquiring an additional 368,190 shares during the period. 78.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AUB. Hovde Group cut their price objective 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. Keefe, Bruyette & Woods lifted their price target on shares of 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. Finally, Raymond James lowered their price objective 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. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $40.40.

Atlantic Union Bankshares Stock Performance

Shares of AUB opened at $42.10 on Tuesday. The stock has a market capitalization of $3.78 billion, a price-to-earnings ratio of 17.47 and a beta of 0.89. Atlantic Union Bankshares Co. has a 12 month low of $30.22 and a 12 month high of $43.57. The firm has a fifty day simple moving average of $38.45 and a 200 day simple moving average of $36.38. The company has a current ratio of 0.90, a quick 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. 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 during the quarter, compared to analysts’ expectations of $226.70 million. During the same quarter last year, the company earned $0.80 EPS. Research analysts forecast that Atlantic Union Bankshares Co. will post 2.93 EPS for the current fiscal year.

Atlantic Union Bankshares Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.23%. This is a boost 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.