First Mercantile Trust Co. Sells 755 Shares of Atlantic Union Bankshares Co. (NASDAQ:AUB)

First Mercantile Trust Co. trimmed its stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 21.4% in the 2nd quarter, Holdings Channel reports. The firm owned 2,772 shares of the company’s stock after selling 755 shares during the period. First Mercantile Trust Co.’s holdings in Atlantic Union Bankshares were worth $100,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AUB. Lazard Asset Management LLC bought a new position in shares of Atlantic Union Bankshares in the first quarter worth approximately $36,000. First Horizon Advisors Inc. raised its stake in shares of Atlantic Union Bankshares by 23.4% in the first quarter. First Horizon Advisors Inc. now owns 2,312 shares of the company’s stock valued at $87,000 after acquiring an additional 438 shares during the period. Captrust Financial Advisors raised its stake in shares of Atlantic Union Bankshares by 165.5% in the first quarter. Captrust Financial Advisors now owns 3,470 shares of the company’s stock valued at $133,000 after acquiring an additional 2,163 shares during the period. Acadian Asset Management LLC purchased a new stake in shares of Atlantic Union Bankshares in the first quarter valued at $173,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Atlantic Union Bankshares in the first quarter valued at $175,000. 69.68% of the stock is owned by hedge funds and other institutional investors.

AUB opened at $33.76 on Friday. Atlantic Union Bankshares Co. has a 12-month low of $19.61 and a 12-month high of $42.45. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $2.60 billion, a PE ratio of 10.62 and a beta of 1.37. The firm has a 50 day moving average of $36.12 and a two-hundred day moving average of $37.96.

Atlantic Union Bankshares (NASDAQ:AUB) last posted its earnings results on Wednesday, July 21st. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.32. The firm had revenue of $172.16 million during the quarter, compared to analyst estimates of $172.90 million. Atlantic Union Bankshares had a net margin of 35.22% and a return on equity of 10.73%. As a group, analysts predict that Atlantic Union Bankshares Co. will post 3.24 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, August 27th. Investors of record on Friday, August 13th were paid a $0.28 dividend. The ex-dividend date of this dividend was Thursday, August 12th. This represents a $1.12 dividend on an annualized basis and a yield of 3.32%. Atlantic Union Bankshares’s dividend payout ratio is currently 52.34%.

Separately, Zacks Investment Research upgraded shares of Atlantic Union Bankshares from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a report on Thursday, July 1st. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $38.50.

Atlantic Union Bankshares Profile

Atlantic Union Bankshares Corp. is a bank holding company, which engages in the provision of financial services. It specializes in offering community banking services. Its services include checking, savings, lending, credit cards, online and mobile banking, treasury management, business eBanking, and wealth management.

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Institutional Ownership by Quarter for Atlantic Union Bankshares (NASDAQ:AUB)

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