Holocene Advisors LP Invests $688,000 in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Holocene Advisors LP bought a new stake in Atlantic Union Bankshares Co. (NASDAQ:AUB) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 18,277 shares of the company’s stock, valued at approximately $688,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AUB. SG Americas Securities LLC increased its stake in Atlantic Union Bankshares by 69.9% during the second quarter. SG Americas Securities LLC now owns 19,122 shares of the company’s stock worth $628,000 after purchasing an additional 7,868 shares during the period. Diversified Trust Co purchased a new stake in Atlantic Union Bankshares during the 2nd quarter worth approximately $252,000. Raymond James & Associates boosted its position in Atlantic Union Bankshares by 2.7% in the 2nd quarter. Raymond James & Associates now owns 121,394 shares of the company’s stock valued at $3,988,000 after buying an additional 3,192 shares during the period. Louisiana State Employees Retirement System boosted its position in Atlantic Union Bankshares by 21.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 45,200 shares of the company’s stock valued at $1,485,000 after buying an additional 8,000 shares during the period. Finally, Family Firm Inc. purchased a new stake in shares of Atlantic Union Bankshares during the second quarter worth $85,000. Hedge funds and other institutional investors own 78.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Keefe, Bruyette & Woods boosted their target price on Atlantic Union Bankshares from $42.00 to $46.00 and gave the stock a “market perform” rating in a research note on Friday, November 22nd. Hovde Group cut their target price on shares of 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. Finally, Raymond James decreased their price target on shares of Atlantic Union Bankshares from $45.00 to $41.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $42.00.

Atlantic Union Bankshares Trading Up 0.8 %

NASDAQ:AUB opened at $42.39 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.90 and a current ratio of 0.90. Atlantic Union Bankshares Co. has a 1 year low of $30.43 and a 1 year high of $44.54. The stock has a market cap of $3.81 billion, a P/E ratio of 17.59 and a beta of 0.91. The stock has a 50-day simple moving average of $39.74 and a 200-day simple moving average of $37.20.

Atlantic Union Bankshares (NASDAQ:AUB) last announced its quarterly earnings results on Monday, October 21st. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.82 by $0.01. The company 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 period in the prior year, the firm posted $0.80 earnings per share. As a group, analysts anticipate that Atlantic Union Bankshares Co. will post 2.93 earnings per share for the current fiscal year.

Atlantic Union Bankshares Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were given a $0.34 dividend. The ex-dividend date was Friday, November 8th. This is a boost from Atlantic Union Bankshares’s previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a yield of 3.21%. Atlantic Union Bankshares’s payout ratio is 56.43%.

Atlantic Union Bankshares 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.