Dover Advisors LLC Sells 883 Shares of Atlantic Union Bankshares Co. (NASDAQ:AUB)

Dover Advisors LLC trimmed its holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 7.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 10,656 shares of the company’s stock after selling 883 shares during the quarter. Dover Advisors LLC’s holdings in Atlantic Union Bankshares were worth $401,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Atlantic Union Bankshares by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 9,290,826 shares of the company’s stock worth $339,487,000 after acquiring an additional 111,580 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Atlantic Union Bankshares by 13.8% during the second quarter. Dimensional Fund Advisors LP now owns 5,681,290 shares of the company’s stock valued at $186,626,000 after purchasing an additional 690,400 shares in the last quarter. Westwood Holdings Group Inc. lifted its position in Atlantic Union Bankshares by 1.2% during the second quarter. Westwood Holdings Group Inc. now owns 2,658,342 shares of the company’s stock valued at $87,327,000 after purchasing an additional 30,586 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Atlantic Union Bankshares by 8.8% in the 2nd quarter. Victory Capital Management Inc. now owns 1,595,728 shares of the company’s stock worth $52,420,000 after buying an additional 128,447 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings 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 worth $38,770,000 after buying an additional 368,190 shares during the last quarter. 78.58% of the stock is owned by hedge funds and other institutional investors.

Atlantic Union Bankshares Trading Up 0.8 %

Shares of AUB traded up $0.31 during trading hours on Tuesday, reaching $38.92. 429,404 shares of the company traded hands, compared to its average volume of 415,612. The firm has a market cap of $3.49 billion, a price-to-earnings ratio of 14.31 and a beta of 0.89. Atlantic Union Bankshares Co. has a 12-month low of $26.91 and a 12-month high of $42.50. The stock’s fifty day moving average price is $37.64 and its 200 day moving average price is $35.26. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.14.

Atlantic Union Bankshares (NASDAQ:AUB) last released its quarterly earnings data 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). The company had revenue of $212.20 million during the quarter, compared to analysts’ expectations of $216.03 million. Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.95%. Atlantic Union Bankshares’s quarterly revenue was up 17.9% on a year-over-year basis. During the same period last year, the firm earned $0.74 earnings per share. Sell-side analysts forecast that Atlantic Union Bankshares Co. will post 3.01 earnings per share for the current year.

Atlantic Union Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 3.29%. The ex-dividend date of this dividend was Friday, August 9th. Atlantic Union Bankshares’s dividend payout ratio is 47.06%.

Analyst Upgrades and Downgrades

Several research firms recently commented on AUB. Hovde Group dropped their price target on Atlantic Union Bankshares from $46.00 to $45.00 and set an “outperform” rating for the company in a research report on Friday, September 13th. Keefe, Bruyette & Woods raised their price target on Atlantic Union Bankshares from $35.00 to $38.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th. Finally, Raymond James cut their price objective on shares of 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. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $40.40.

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.