Jennison Associates LLC Purchases 67,331 Shares of Atlantic Union Bankshares Co. (NASDAQ:AUB)

Jennison Associates LLC boosted its holdings in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 26.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 318,822 shares of the company’s stock after purchasing an additional 67,331 shares during the period. Jennison Associates LLC owned about 0.42% of Atlantic Union Bankshares worth $11,650,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of AUB. Strs Ohio bought a new stake in shares of Atlantic Union Bankshares in the fourth quarter worth $29,000. Covestor Ltd increased its stake in shares of Atlantic Union Bankshares by 95.0% in the third quarter. Covestor Ltd now owns 1,053 shares of the company’s stock valued at $30,000 after buying an additional 513 shares during the period. Nisa Investment Advisors LLC raised its position in shares of Atlantic Union Bankshares by 194.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,120 shares of the company’s stock worth $151,000 after acquiring an additional 2,720 shares during the last quarter. Emerald Mutual Fund Advisers Trust acquired a new position in shares of Atlantic Union Bankshares in the third quarter worth approximately $152,000. Finally, Beacon Investment Advisors LLC bought a new stake in Atlantic Union Bankshares in the third quarter valued at approximately $210,000. Institutional investors and hedge funds own 78.58% of the company’s stock.

Atlantic Union Bankshares Stock Performance

AUB opened at $32.66 on Friday. The company has a market cap of $2.46 billion, a price-to-earnings ratio of 11.15 and a beta of 0.94. The company’s fifty day moving average price is $33.59 and its two-hundred day moving average price is $33.13. Atlantic Union Bankshares Co. has a 1-year low of $23.32 and a 1-year high of $37.86. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.15.

Atlantic Union Bankshares (NASDAQ:AUB) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.04). The business had revenue of $288.47 million during the quarter, compared to the consensus estimate of $178.82 million. Atlantic Union Bankshares had a net margin of 19.51% and a return on equity of 9.47%. During the same period in the previous year, the business posted $0.63 EPS. On average, analysts expect that Atlantic Union Bankshares Co. will post 3.24 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Keefe, Bruyette & Woods decreased their target price on shares of Atlantic Union Bankshares from $36.00 to $35.00 and set a “market perform” rating for the company in a research report on Wednesday. Stephens lowered their target price on shares of Atlantic Union Bankshares from $43.00 to $40.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, Raymond James upped their price target on shares of Atlantic Union Bankshares from $34.00 to $39.00 and gave the company an “outperform” rating in a research report on Friday, January 5th.

Insider Activity at Atlantic Union Bankshares

In related news, Director Donald R. Kimble purchased 7,000 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was acquired at an average cost of $35.13 per share, with a total value of $245,910.00. Following the transaction, the director now owns 7,582 shares of the company’s stock, valued at approximately $266,355.66. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.87% of the stock is owned by insiders.

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.