Trexquant Investment LP Purchases New Position in Atlantic Union Bankshares Co. $AUB

Trexquant Investment LP purchased a new stake in Atlantic Union Bankshares Co. (NASDAQ:AUB) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 46,583 shares of the company’s stock, valued at approximately $1,451,000. Trexquant Investment LP owned about 0.05% of Atlantic Union Bankshares as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Xponance Inc. grew its stake in Atlantic Union Bankshares by 5.8% in the 1st quarter. Xponance Inc. now owns 6,798 shares of the company’s stock valued at $212,000 after buying an additional 374 shares during the last quarter. Corebridge Financial Inc. grew its stake in Atlantic Union Bankshares by 0.8% in the 1st quarter. Corebridge Financial Inc. now owns 48,026 shares of the company’s stock valued at $1,496,000 after buying an additional 396 shares during the last quarter. CWM LLC grew its stake in Atlantic Union Bankshares by 99.4% in the 1st quarter. CWM LLC now owns 1,049 shares of the company’s stock valued at $33,000 after buying an additional 523 shares during the last quarter. OneDigital Investment Advisors LLC grew its stake in Atlantic Union Bankshares by 8.7% in the 1st quarter. OneDigital Investment Advisors LLC now owns 6,619 shares of the company’s stock valued at $206,000 after buying an additional 527 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. grew its stake in Atlantic Union Bankshares by 1.9% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 30,755 shares of the company’s stock valued at $958,000 after buying an additional 575 shares during the last quarter. Institutional investors and hedge funds own 78.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Piper Sandler decreased their target price on shares of Atlantic Union Bankshares from $46.00 to $45.00 and set an “overweight” rating on the stock in a research report on Friday, July 25th. Jefferies Financial Group set a $37.00 target price on shares of Atlantic Union Bankshares and gave the stock a “buy” rating in a research report on Wednesday, May 21st. Raymond James Financial restated a “strong-buy” rating on shares of Atlantic Union Bankshares in a research report on Wednesday, July 30th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Atlantic Union Bankshares from $33.00 to $34.00 and gave the stock a “market perform” rating in a research report on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $38.33.

Atlantic Union Bankshares Stock Performance

NASDAQ AUB opened at $35.76 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $5.10 billion, a price-to-earnings ratio of 15.61 and a beta of 0.90. The firm’s 50 day simple moving average is $33.45 and its 200 day simple moving average is $31.27. Atlantic Union Bankshares Co. has a 1 year low of $22.85 and a 1 year high of $44.54.

Atlantic Union Bankshares (NASDAQ:AUB) last posted its quarterly earnings results on Thursday, July 24th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.15. The business had revenue of $377.22 million for the quarter, compared to analyst estimates of $369.70 million. Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.50%. The firm’s revenue for the quarter was up 92.0% on a year-over-year basis. During the same quarter last year, the business posted $0.63 EPS. As a group, research analysts expect that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current fiscal year.

Atlantic Union Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 4th were given a dividend of $0.34 per share. The ex-dividend date was Monday, August 4th. This represents a $1.36 annualized dividend and a dividend yield of 3.8%. Atlantic Union Bankshares’s dividend payout ratio (DPR) is currently 66.02%.

Insider Activity at Atlantic Union Bankshares

In related news, CEO John C. Asbury acquired 7,500 shares of the company’s stock in a transaction that occurred on Monday, July 28th. The stock was acquired at an average price of $32.91 per share, with a total value of $246,825.00. Following the purchase, the chief executive officer directly owned 270,532 shares in the company, valued at approximately $8,903,208.12. This trade represents a 2.85% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Frank Russell Ellett acquired 1,441 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The stock was bought at an average cost of $31.49 per share, with a total value of $45,377.09. Following the purchase, the director owned 78,047 shares in the company, valued at $2,457,700.03. The trade was a 1.88% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 18,941 shares of company stock worth $606,502 in the last quarter. 0.87% of the stock is currently owned by company insiders.

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.