Principal Financial Group Inc. Has $15.15 Million Stake in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Principal Financial Group Inc. decreased its holdings in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 1.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 414,526 shares of the company’s stock after selling 6,315 shares during the quarter. Principal Financial Group Inc. owned 0.55% of Atlantic Union Bankshares worth $15,147,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Strs Ohio acquired a new position in shares of Atlantic Union Bankshares in the fourth quarter valued at approximately $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 increased its stake in shares of Atlantic Union Bankshares by 194.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,120 shares of the company’s stock valued at $151,000 after buying an additional 2,720 shares during the period. Beacon Investment Advisors LLC acquired a new position in shares of Atlantic Union Bankshares in the third quarter valued at approximately $210,000. Finally, Jump Financial LLC acquired a new position in shares of Atlantic Union Bankshares in the fourth quarter valued at approximately $219,000. Institutional investors and hedge funds own 78.58% of the company’s stock.

Atlantic Union Bankshares Stock Performance

Shares of AUB stock opened at $32.36 on Friday. The stock has a market capitalization of $2.90 billion, a PE ratio of 11.28 and a beta of 0.94. Atlantic Union Bankshares Co. has a one year low of $25.14 and a one year high of $37.86. The business’s 50 day simple moving average is $33.48 and its 200 day simple moving average is $33.75. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.90 and a quick ratio of 0.90.

Atlantic Union Bankshares (NASDAQ:AUB) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.04). The business had revenue of $288.47 million for the quarter, compared to the consensus estimate of $178.82 million. Atlantic Union Bankshares had a return on equity of 9.47% and a net margin of 19.51%. During the same quarter in the previous year, the company posted $0.63 earnings per share. As a group, research analysts forecast that Atlantic Union Bankshares Co. will post 2.95 earnings per share for the current year.

Atlantic Union Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 24th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date of this dividend is Thursday, May 23rd. Atlantic Union Bankshares’s payout ratio is 47.06%.

Insiders Place Their Bets

In other Atlantic Union Bankshares news, Director Donald R. Kimble purchased 7,000 shares of the business’s stock in a transaction on Friday, March 8th. The shares were purchased at an average cost of $35.13 per share, for a total transaction of $245,910.00. Following the acquisition, the director now owns 7,582 shares of the company’s stock, valued at $266,355.66. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.87% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Piper Sandler lowered their price objective on Atlantic Union Bankshares from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Monday, April 29th. Keefe, Bruyette & Woods reduced their target price on Atlantic Union Bankshares from $36.00 to $35.00 and set a “market perform” rating on the stock in a report on Wednesday, April 24th. Finally, Stephens reduced their target price on Atlantic Union Bankshares from $43.00 to $40.00 and set an “overweight” rating on the stock in a report on Wednesday, April 24th.

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.