Principal Financial Group Inc. Lowers Position in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Principal Financial Group Inc. trimmed its stake in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 4.4% in the third quarter, Holdings Channel.com reports. The firm owned 423,265 shares of the company’s stock after selling 19,503 shares during the quarter. Principal Financial Group Inc.’s holdings in Atlantic Union Bankshares were worth $15,944,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of AUB. GAMMA Investing LLC lifted its position in shares of 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 purchasing an additional 489 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of 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 purchasing an additional 483 shares during the period. Blue Trust Inc. raised its holdings in shares of Atlantic Union Bankshares by 110.2% during the third quarter. Blue Trust Inc. now owns 2,089 shares of the company’s stock worth $79,000 after purchasing an additional 1,095 shares during the period. Family Firm Inc. bought a new position in shares of Atlantic Union Bankshares during the second quarter worth about $85,000. Finally, EMC Capital Management bought a new position in shares of Atlantic Union Bankshares during the first quarter worth about $199,000. 78.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AUB. Keefe, Bruyette & Woods increased their target price on shares of 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. Hovde Group reduced 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 note on Friday, September 13th. Finally, Raymond James reduced their price target on shares of Atlantic Union Bankshares from $45.00 to $41.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.40.

Atlantic Union Bankshares Trading Down 0.4 %

Shares of AUB stock opened at $42.48 on Friday. Atlantic Union Bankshares Co. has a 12 month low of $30.22 and a 12 month high of $43.57. 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 business’s 50 day moving average is $38.36 and its two-hundred day moving average is $36.26. The company has a market cap of $3.81 billion, a PE ratio of 17.63 and a beta of 0.89.

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, topping the consensus estimate of $0.82 by $0.01. The business had revenue of $358.81 million for the quarter, compared to the consensus estimate of $226.70 million. Atlantic Union Bankshares had a net margin of 16.25% and a return on equity of 8.85%. During the same quarter last year, the company posted $0.80 earnings per share. Equities analysts predict that Atlantic Union Bankshares Co. will post 2.93 EPS for the current year.

Atlantic Union Bankshares Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be given a $0.34 dividend. This is a boost from Atlantic Union Bankshares’s previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a yield of 3.20%. The ex-dividend date of this dividend is Friday, November 8th. Atlantic Union Bankshares’s dividend payout ratio (DPR) is 56.43%.

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.