Teachers Retirement System of The State of Kentucky Lowers Position in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Teachers Retirement System of The State of Kentucky cut its position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 59.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 25,564 shares of the company’s stock after selling 37,839 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Atlantic Union Bankshares were worth $963,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AUB. Nomura Asset Management Co. Ltd. lifted its position in Atlantic Union Bankshares by 78.8% during the third quarter. Nomura Asset Management Co. Ltd. now owns 930 shares of the company’s stock valued at $35,000 after buying an additional 410 shares during the period. GAMMA Investing LLC increased its stake in shares of Atlantic Union Bankshares by 88.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,041 shares of the company’s stock worth $39,000 after acquiring an additional 489 shares in the last quarter. UMB Bank n.a. lifted its position in Atlantic Union Bankshares by 77.7% during the 3rd quarter. UMB Bank n.a. now owns 1,105 shares of the company’s stock valued at $42,000 after acquiring an additional 483 shares during the period. Quest Partners LLC bought a new stake in Atlantic Union Bankshares during the third quarter worth about $56,000. Finally, Blue Trust Inc. grew its holdings in Atlantic Union Bankshares by 110.2% in 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. 78.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Keefe, Bruyette & Woods lifted their target price on shares of Atlantic Union Bankshares from $42.00 to $46.00 and gave the company a “market perform” rating in a report on Friday, November 22nd. Raymond James reduced their price objective on 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. Finally, Hovde Group dropped their target price on Atlantic Union Bankshares from $46.00 to $45.00 and set an “outperform” rating on the stock in a report on Friday, September 13th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Atlantic Union Bankshares has an average rating of “Moderate Buy” and a consensus target price of $42.00.

Atlantic Union Bankshares Price Performance

Shares of AUB opened at $37.46 on Thursday. Atlantic Union Bankshares Co. has a twelve month low of $30.43 and a twelve month high of $44.54. The company has a market capitalization of $3.36 billion, a P/E ratio of 15.54 and a beta of 0.91. The firm has a 50 day moving average of $40.40 and a 200 day moving average of $37.67. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.13.

Atlantic Union Bankshares (NASDAQ:AUB) last announced its quarterly earnings results on Monday, October 21st. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.01. Atlantic Union Bankshares had a return on equity of 8.85% and a net margin of 16.25%. The firm had revenue of $358.81 million for the quarter, compared to the consensus estimate of $226.70 million. During the same period in the prior year, the company posted $0.80 earnings per share. As a group, equities research analysts anticipate 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 was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were paid a $0.34 dividend. The ex-dividend date of this dividend was Friday, November 8th. This is a positive change 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 3.63%. Atlantic Union Bankshares’s payout ratio is currently 56.43%.

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.