Atlantic Union Bankshares Co. (NASDAQ:AUB) Shares Acquired by Jennison Associates LLC

Jennison Associates LLC lifted its stake in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 21.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 536,814 shares of the company’s stock after buying an additional 93,664 shares during the quarter. Jennison Associates LLC’s holdings in Atlantic Union Bankshares were worth $20,222,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AUB. Dimensional Fund Advisors LP increased its holdings in Atlantic Union Bankshares by 13.8% in the second quarter. Dimensional Fund Advisors LP now owns 5,681,290 shares of the company’s stock valued at $186,626,000 after buying an additional 690,400 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Atlantic Union Bankshares by 45.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,180,199 shares of the company’s stock valued at $38,770,000 after purchasing an additional 368,190 shares in the last quarter. Atlantic Union Bankshares Corp raised its holdings in Atlantic Union Bankshares by 64.6% in the 2nd quarter. Atlantic Union Bankshares Corp now owns 458,689 shares of the company’s stock worth $15,066,000 after purchasing an additional 179,951 shares during the period. Victory Capital Management Inc. boosted its position in Atlantic Union Bankshares by 8.8% during the second quarter. Victory Capital Management Inc. now owns 1,595,728 shares of the company’s stock worth $52,420,000 after purchasing an additional 128,447 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in Atlantic Union Bankshares in the second quarter valued at approximately $4,096,000. 78.58% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on AUB shares. Raymond James decreased their target price on Atlantic Union Bankshares from $45.00 to $41.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 2nd. Hovde Group cut their target price on shares of Atlantic Union Bankshares from $46.00 to $45.00 and set an “outperform” rating for the company in a research note on Friday, September 13th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Atlantic Union Bankshares from $42.00 to $46.00 and gave the company a “market perform” rating in a research note on Friday. 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, Atlantic Union Bankshares currently has an average rating of “Moderate Buy” and an average target price of $42.00.

Atlantic Union Bankshares Price Performance

Atlantic Union Bankshares stock opened at $42.63 on Friday. The company has a fifty day simple moving average of $38.82 and a 200-day simple moving average of $36.57. The firm has a market capitalization of $3.83 billion, a price-to-earnings ratio of 17.69 and a beta of 0.89. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.13. Atlantic Union Bankshares Co. has a 52-week low of $30.22 and a 52-week high of $43.57.

Atlantic Union Bankshares (NASDAQ:AUB) last announced its quarterly earnings data on Monday, October 21st. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.01. The company had revenue of $358.81 million during the quarter, compared to analysts’ expectations 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 quarter in the prior year, the company earned $0.80 EPS. On average, equities analysts anticipate that Atlantic Union Bankshares Co. will post 2.93 EPS 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. Stockholders of record on Friday, November 8th were given a $0.34 dividend. The ex-dividend date of this dividend was Friday, November 8th. This is a positive change from Atlantic Union Bankshares’s previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.19%. Atlantic Union Bankshares’s dividend 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.