Victory Capital Management Inc. Sells 16,991 Shares of Atlantic Union Bankshares Co. (NASDAQ:AUB)

Victory Capital Management Inc. lowered its position in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 1.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,578,737 shares of the company’s stock after selling 16,991 shares during the period. Victory Capital Management Inc. owned 1.76% of Atlantic Union Bankshares worth $59,471,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in AUB. SG Americas Securities LLC acquired a new position in shares of Atlantic Union Bankshares during the first quarter valued at about $397,000. Sei Investments Co. lifted its position in Atlantic Union Bankshares by 83.7% in the 1st quarter. Sei Investments Co. now owns 160,775 shares of the company’s stock valued at $5,677,000 after acquiring an additional 73,262 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Atlantic Union Bankshares by 9.6% during the 1st quarter. Russell Investments Group Ltd. now owns 78,380 shares of the company’s stock valued at $2,768,000 after purchasing an additional 6,870 shares during the last quarter. US Bancorp DE increased its holdings in Atlantic Union Bankshares by 6.8% during the 1st quarter. US Bancorp DE now owns 12,098 shares of the company’s stock worth $427,000 after purchasing an additional 769 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its stake in shares of Atlantic Union Bankshares by 68.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 36,209 shares of the company’s stock worth $1,269,000 after purchasing an additional 14,760 shares during the last quarter. Institutional investors and hedge funds own 78.58% of the company’s stock.

Atlantic Union Bankshares Stock Performance

Shares of Atlantic Union Bankshares stock opened at $42.65 on Friday. The business’s fifty day simple moving average is $38.25 and its 200 day simple moving average is $36.19. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.13. Atlantic Union Bankshares Co. has a 12 month low of $30.22 and a 12 month high of $43.57. The firm has a market capitalization of $3.83 billion, a P/E ratio of 17.70 and a beta of 0.89.

Atlantic Union Bankshares (NASDAQ:AUB) last released its earnings results on Monday, October 21st. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.01. The company had revenue of $358.81 million for the quarter, compared to analysts’ expectations of $226.70 million. Atlantic Union Bankshares had a return on equity of 8.85% and a net margin of 16.25%. During the same period in the previous year, the business posted $0.80 EPS. As a group, analysts anticipate that Atlantic Union Bankshares Co. will post 2.93 EPS for the current year.

Atlantic Union Bankshares Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be given a dividend of $0.34 per share. This is an increase 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%. The ex-dividend date of this dividend is Friday, November 8th. Atlantic Union Bankshares’s dividend payout ratio is currently 56.43%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on AUB shares. Keefe, Bruyette & Woods lifted their target price on Atlantic Union Bankshares from $35.00 to $38.00 and gave the company a “market perform” rating in a research report on Monday, July 29th. 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 report on Wednesday, October 2nd. Finally, Hovde Group lowered 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 report on Friday, September 13th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Atlantic Union Bankshares currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.40.

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.