Salomon & Ludwin LLC Has $653,000 Position in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Salomon & Ludwin LLC lowered its holdings in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 2.8% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 17,322 shares of the company’s stock after selling 498 shares during the period. Salomon & Ludwin LLC’s holdings in Atlantic Union Bankshares were worth $653,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in AUB. Dimensional Fund Advisors LP grew its position in shares of Atlantic Union Bankshares by 13.8% in 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 during the last quarter. Westwood Holdings Group Inc. raised its stake in Atlantic Union Bankshares by 1.2% in the 2nd quarter. Westwood Holdings Group Inc. now owns 2,658,342 shares of the company’s stock worth $87,327,000 after purchasing an additional 30,586 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in 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 valued at $52,420,000 after purchasing an additional 128,447 shares during the period. Bank of New York Mellon Corp grew its position in shares of Atlantic Union Bankshares by 45.3% during 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 purchasing an additional 368,190 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH increased its holdings in shares of Atlantic Union Bankshares by 9.6% during the second quarter. Fort Washington Investment Advisors Inc. OH now owns 612,181 shares of the company’s stock worth $20,110,000 after purchasing an additional 53,740 shares during the period. 78.58% of the stock is currently owned by institutional investors.

Atlantic Union Bankshares Trading Down 0.8 %

AUB opened at $36.81 on Monday. The company’s 50 day moving average is $37.82 and its 200-day moving average is $35.48. The company has a market cap of $3.30 billion, a P/E ratio of 15.27 and a beta of 0.89. 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 1-year low of $27.63 and a 1-year high of $42.50.

Atlantic Union Bankshares (NASDAQ:AUB) last issued its quarterly earnings data on Monday, October 21st. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.01. The business had revenue of $358.81 million for the quarter, compared to analyst estimates 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 quarter in the previous year, the company posted $0.80 EPS. Equities research analysts predict that Atlantic Union Bankshares Co. will post 3.05 earnings per share for the current fiscal year.

Atlantic Union Bankshares Increases Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date is Friday, November 8th. This is a positive change from Atlantic Union Bankshares’s previous quarterly dividend of $0.32. Atlantic Union Bankshares’s dividend payout ratio (DPR) is 53.11%.

Analysts Set New Price Targets

AUB has been the subject of several recent research reports. Raymond James cut their price target on Atlantic Union Bankshares from $45.00 to $41.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. Hovde Group cut their price objective on shares of 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. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Atlantic Union Bankshares from $35.00 to $38.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.