Chevy Chase Trust Holdings LLC Makes New $2.82 Million Investment in Atlantic Union Bankshares Co. $AUB

Chevy Chase Trust Holdings LLC purchased a new stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 89,983 shares of the company's stock, valued at approximately $2,815,000. Chevy Chase Trust Holdings LLC owned 0.06% of Atlantic Union Bankshares as of its most recent SEC filing.

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Other institutional investors have also added to or reduced their stakes in the company. CWM LLC boosted its position in Atlantic Union Bankshares by 99.4% during the 1st quarter. CWM LLC now owns 1,049 shares of the company's stock valued at $33,000 after buying an additional 523 shares during the period. Fifth Third Bancorp boosted its position in Atlantic Union Bankshares by 50.2% during the 2nd quarter. Fifth Third Bancorp now owns 2,052 shares of the company's stock valued at $64,000 after buying an additional 686 shares during the period. Concord Wealth Partners boosted its position in Atlantic Union Bankshares by 304.1% during the 1st quarter. Concord Wealth Partners now owns 2,728 shares of the company's stock valued at $85,000 after buying an additional 2,053 shares during the period. Signaturefd LLC boosted its position in Atlantic Union Bankshares by 731.9% during the 2nd quarter. Signaturefd LLC now owns 3,577 shares of the company's stock valued at $112,000 after buying an additional 3,147 shares during the period. Finally, GAMMA Investing LLC boosted its position in Atlantic Union Bankshares by 270.6% during the 2nd quarter. GAMMA Investing LLC now owns 3,962 shares of the company's stock valued at $124,000 after buying an additional 2,893 shares during the period. Hedge funds and other institutional investors own 78.58% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on AUB shares. Raymond James Financial reissued a "strong-buy" rating and set a $43.00 price target (up previously from $42.00) on shares of Atlantic Union Bankshares in a research report on Friday, October 3rd. Janney Montgomery Scott initiated coverage on shares of Atlantic Union Bankshares in a research report on Wednesday, October 8th. They set a "buy" rating and a $42.00 price target for the company. National Bankshares set a $46.00 target price on shares of Atlantic Union Bankshares in a research report on Wednesday, September 24th. Piper Sandler dropped their target price on shares of Atlantic Union Bankshares from $46.00 to $45.00 and set an "overweight" rating for the company in a research report on Friday, July 25th. Finally, TD Cowen initiated coverage on shares of Atlantic Union Bankshares in a research report on Thursday, September 25th. They issued a "buy" rating and a $46.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Atlantic Union Bankshares presently has a consensus rating of "Moderate Buy" and an average price target of $41.56.

View Our Latest Report on AUB

Atlantic Union Bankshares Trading Up 1.4%

NASDAQ:AUB opened at $34.38 on Tuesday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average price of $35.11 and a 200-day moving average price of $31.79. The stock has a market cap of $4.90 billion, a price-to-earnings ratio of 15.01 and a beta of 0.87. Atlantic Union Bankshares Co. has a 12 month low of $22.85 and a 12 month high of $44.54.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.15. The company had revenue of $377.22 million during the quarter, compared to analyst estimates of $369.70 million. Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.50%. Atlantic Union Bankshares's quarterly revenue was up 92.0% compared to the same quarter last year. During the same period last year, the business earned $0.63 EPS. Equities analysts predict that Atlantic Union Bankshares Co. will post 3.26 EPS for the current year.

Atlantic Union Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 4th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Monday, August 4th. Atlantic Union Bankshares's dividend payout ratio (DPR) is presently 66.02%.

Insider Activity

In other Atlantic Union Bankshares news, Director Frank Russell Ellett purchased 5,000 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The stock was bought at an average cost of $31.54 per share, for a total transaction of $157,700.00. Following the purchase, the director directly owned 76,606 shares in the company, valued at $2,416,153.24. The trade was a 6.98% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John C. Asbury purchased 7,500 shares of the firm's stock in a transaction that occurred on Monday, July 28th. The stock was acquired at an average price of $32.91 per share, with a total value of $246,825.00. Following the completion of the purchase, the chief executive officer owned 270,532 shares in the company, valued at $8,903,208.12. This represents a 2.85% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 18,941 shares of company stock valued at $606,502. 0.87% of the stock is owned by company insiders.

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.

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