Wealthspire Advisors LLC Sells 10,000 Shares of Atlantic Union Bankshares Co. (NASDAQ:AUB)

Wealthspire Advisors LLC trimmed its stake in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 18.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,848 shares of the company’s stock after selling 10,000 shares during the period. Wealthspire Advisors LLC’s holdings in Atlantic Union Bankshares were worth $1,639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. increased its stake in shares of Atlantic Union Bankshares by 3.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 618,084 shares of the company’s stock valued at $22,585,000 after buying an additional 22,033 shares during the period. Natixis Advisors L.P. raised its holdings in shares of Atlantic Union Bankshares by 30.8% in the 4th quarter. Natixis Advisors L.P. now owns 52,546 shares of the company’s stock valued at $1,920,000 after purchasing an additional 12,361 shares in the last quarter. Heritage Wealth Management LLC bought a new stake in shares of Atlantic Union Bankshares in the 4th quarter valued at about $249,000. Victory Capital Management Inc. lifted its position in shares of Atlantic Union Bankshares by 2.9% in the 4th quarter. Victory Capital Management Inc. now owns 1,449,785 shares of the company’s stock worth $52,975,000 after purchasing an additional 40,659 shares during the period. Finally, Intrust Bank NA boosted its stake in shares of Atlantic Union Bankshares by 17.9% during the fourth quarter. Intrust Bank NA now owns 13,890 shares of the company’s stock valued at $508,000 after purchasing an additional 2,106 shares in the last quarter. 78.58% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Donald R. Kimble acquired 7,000 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were acquired at an average cost of $35.13 per share, with a total value of $245,910.00. Following the completion of the acquisition, the director now owns 7,582 shares of the company’s stock, valued at $266,355.66. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 1.28% of the company’s stock.

Atlantic Union Bankshares Stock Up 0.8 %

Shares of AUB traded up $0.26 during midday trading on Thursday, hitting $34.05. 259,985 shares of the company’s stock traded hands, compared to its average volume of 406,554. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $3.06 billion, a price-to-earnings ratio of 12.43 and a beta of 0.94. Atlantic Union Bankshares Co. has a 1 year low of $23.32 and a 1 year high of $37.86. The firm’s fifty day moving average is $33.53 and its 200-day moving average is $33.40.

Atlantic Union Bankshares (NASDAQ:AUB) last issued 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). Atlantic Union Bankshares had a return on equity of 9.47% and a net margin of 19.51%. The business had revenue of $288.47 million during the quarter, compared to analyst estimates of $178.82 million. During the same period in the prior year, the business posted $0.63 EPS. As a group, sell-side analysts anticipate that Atlantic Union Bankshares Co. will post 3.1 earnings per share for the current year.

Atlantic Union Bankshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 24th will be paid a dividend of $0.32 per share. The ex-dividend date is Thursday, May 23rd. This represents a $1.28 dividend on an annualized basis and a yield of 3.76%. Atlantic Union Bankshares’s payout ratio is 47.06%.

Analyst Ratings Changes

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

About Atlantic Union Bankshares

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.