Dudley Capital Management LLC Lowers Stake in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Dudley Capital Management LLC lessened its holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 16.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 30,071 shares of the company’s stock after selling 6,000 shares during the quarter. Dudley Capital Management LLC’s holdings in Atlantic Union Bankshares were worth $1,133,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Deroy & Devereaux Private Investment Counsel Inc. grew its holdings in Atlantic Union Bankshares by 0.7% in the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 131,775 shares of the company’s stock valued at $4,964,000 after purchasing an additional 885 shares during the period. Pinnacle Associates Ltd. grew its stake in Atlantic Union Bankshares by 8.6% in the 3rd quarter. Pinnacle Associates Ltd. now owns 290,468 shares of the company’s stock valued at $10,614,000 after acquiring an additional 23,087 shares during the period. Smith Salley Wealth Management grew its stake in Atlantic Union Bankshares by 3.9% in the 3rd quarter. Smith Salley Wealth Management now owns 52,892 shares of the company’s stock valued at $1,992,000 after acquiring an additional 2,007 shares during the period. International Assets Investment Management LLC purchased a new stake in Atlantic Union Bankshares in the 3rd quarter worth $7,660,000. Finally, Raymond James & Associates raised its position in Atlantic Union Bankshares by 3.9% during the third quarter. Raymond James & Associates now owns 126,157 shares of the company’s stock worth $4,752,000 after acquiring an additional 4,763 shares during the period. Hedge funds and other institutional investors own 78.58% of the company’s stock.

Atlantic Union Bankshares Price Performance

Shares of NASDAQ AUB opened at $41.92 on Friday. The firm has a 50-day simple moving average of $37.89 and a 200-day simple moving average of $35.85. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $3.76 billion, a price-to-earnings ratio of 14.93 and a beta of 0.89. Atlantic Union Bankshares Co. has a 52 week low of $29.24 and a 52 week high of $43.28.

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. Atlantic Union Bankshares had a net margin of 16.25% and a return on equity of 8.85%. The company had revenue of $358.81 million during the quarter, compared to analysts’ expectations of $226.70 million. During the same quarter in the prior year, the company earned $0.80 EPS. On average, equities analysts predict that Atlantic Union Bankshares Co. will post 2.93 earnings per share for the current fiscal year.

Atlantic Union Bankshares Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 3.24%. The ex-dividend date is Friday, November 8th. This is a boost from Atlantic Union Bankshares’s previous quarterly dividend of $0.32. Atlantic Union Bankshares’s dividend payout ratio (DPR) is currently 53.11%.

Analyst Ratings Changes

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

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.