Oliver Luxxe Assets LLC Increases Holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Oliver Luxxe Assets LLC lifted its position in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 105.5% in the third quarter, Holdings Channel reports. The firm owned 66,407 shares of the company’s stock after buying an additional 34,093 shares during the period. Oliver Luxxe Assets LLC’s holdings in Atlantic Union Bankshares were worth $2,502,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. UMB Bank n.a. lifted its holdings in Atlantic Union Bankshares by 77.7% during the third quarter. UMB Bank n.a. now owns 1,105 shares of the company’s stock worth $42,000 after buying an additional 483 shares during the period. GAMMA Investing LLC lifted its holdings in Atlantic Union Bankshares by 88.6% during the third quarter. GAMMA Investing LLC now owns 1,041 shares of the company’s stock worth $39,000 after buying an additional 489 shares during the period. Handelsbanken Fonder AB lifted its holdings in Atlantic Union Bankshares by 25.1% during the third quarter. Handelsbanken Fonder AB now owns 20,416 shares of the company’s stock worth $769,000 after buying an additional 4,100 shares during the period. Dana Investment Advisors Inc. lifted its holdings in Atlantic Union Bankshares by 8.2% during the second quarter. Dana Investment Advisors Inc. now owns 43,179 shares of the company’s stock worth $1,418,000 after buying an additional 3,279 shares during the period. Finally, Systematic Financial Management LP lifted its holdings in Atlantic Union Bankshares by 51.1% during the second quarter. Systematic Financial Management LP now owns 346,292 shares of the company’s stock worth $11,376,000 after buying an additional 117,186 shares during the period. Hedge funds and other institutional investors own 78.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on AUB shares. Raymond James lowered their target price on Atlantic Union Bankshares from $45.00 to $41.00 and set an “outperform” rating for the company in a report on Wednesday, October 2nd. Keefe, Bruyette & Woods upped their target price on Atlantic Union Bankshares from $35.00 to $38.00 and gave the stock a “market perform” rating in a report on Monday, July 29th. Finally, Hovde Group decreased their price objective on Atlantic Union Bankshares from $46.00 to $45.00 and set an “outperform” rating for the company in a report on Friday, September 13th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $40.40.

Atlantic Union Bankshares Stock Performance

Shares of AUB opened at $37.88 on Monday. Atlantic Union Bankshares Co. has a 12 month low of $26.91 and a 12 month high of $42.50. The stock has a fifty day moving average price of $37.55 and a 200-day moving average price of $35.21. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.14. The firm has a market cap of $3.40 billion, a PE ratio of 16.69 and a beta of 0.89.

Atlantic Union Bankshares (NASDAQ:AUB) last released its earnings results on Thursday, July 25th. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.05). Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.95%. The firm had revenue of $212.20 million during the quarter, compared to analyst estimates of $216.03 million. During the same period in the previous year, the company earned $0.74 earnings per share. Atlantic Union Bankshares’s revenue was up 17.9% on a year-over-year basis. Equities research analysts predict that Atlantic Union Bankshares Co. will post 3.01 earnings per share for the current fiscal year.

Atlantic Union Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 3.38%. The ex-dividend date of this dividend was Friday, August 9th. Atlantic Union Bankshares’s payout ratio is 56.39%.

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.