The Vanguard Group, Inc. recently announced the acquisition of new stake in Atlantic Union Bankshares Corporation (NASDAQ:AUB). The institutional investor has increased its shareholding in the Financial company by 5.48% to 7.9 million shares with purchase of 0.41 million shares. This fresh investment now brings its stake to 10.58% valued currently at $277.78 million. In addition, Dimensional Fund Advisors LP raised its holdings by 0.14 million to 5.03 million shares. And Franklin Mutual Advisers LLC has lifted its position by 33.73% or 0.77 million shares – to 3.06 million shares.
With over 0.28 million Atlantic Union Bankshares Corporation (AUB) shares trading Tuesday and a closing price of $36.31 on the day, the dollar volume was approximately $10.31 million. The shares have shown a positive half year performance of 8.03% and its price on 01/17/23 lost nearly -1.09%. Currently, there are 74.70M common shares owned by the public and among those 73.14M shares have been available to trade.
Insiders at the company have transacted a total of 88 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 57 of these insider trades were purchases, accounting for 120,148 shares. Insider sales of the common stock occurred on 31 occasions, with total insider shares sold totaling 17,559 shares.
The top 3 mutual fund holders in Atlantic Union Bankshares Corporation are Vanguard Total Stock Market Index, Franklin Small Cap Value Fund, and Vanguard Small Cap Index Fund. Vanguard Total Stock Market Index owns 2.29 million shares of the company’s stock, all valued at over $80.47 million. The company bought an additional 4400.0 shares recently to bring their total holdings to about 3.07% of the shares outstanding. Vanguard Small Cap Index Fund bought 158.0 shares to bring its total holdings to over 1.93 million shares at a value of $67.75 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.58% of the shares outstanding.
Shares of Atlantic Union Bankshares Corporation (NASDAQ: AUB) opened at $36.82, up $0.11 from a prior closing price of $36.71. However, the script later moved the day high at 36.95, down -1.09%. The company’s stock has a 5-day price change of 0.30% and 11.52% over the past three months. AUB shares are trading 3.33% year to date (YTD), with the 12-month market performance down to -13.34% lower. It has a 12-month low price of $30.26 and touched a high of $42.67 over the same period. AUB has an average intraday trading volume of 238.59K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 2.86%, 3.33%, and 5.96% respectively.
Institutional ownership of Atlantic Union Bankshares Corporation (NASDAQ: AUB) shares accounts for 73.70% of the company’s 74.70M shares outstanding. Mutual fund holders own 26.67%, while other institutional holders and individual stakeholders account for 45.62% and 2.16% respectively.
It has a market capitalization of $2.72B and a beta (3y monthly) value of 1.03. The stock’s trailing 12-month PE ratio is 13.65, while the earnings-per-share (ttm) stands at $2.66. The company has a PEG of 1.71 and the debt-to-equity ratio at 0.17. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.93% over the week and 2.10% over the month.
Analysts forecast that Atlantic Union Bankshares Corporation (AUB) will achieve an EPS of $0.82 for the current quarter, $0.85 for the next quarter and $3.54 for 2023. The lowest estimate earnings-per-share for the quarter is $0.82 while analysts give the company a high EPS estimate of $0.82. Comparatively, EPS for the current quarter was $0.59 a year ago. Earnings per share for the fiscal year are expected to increase by 68.30%, and 21.79% over the next financial year. EPS should shrink at an annualized rate of 8.00% over the next five years, compared to 13.50% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 4 brokerage firm advisors rate Atlantic Union Bankshares Corporation (AUB) as a “Strong Buy” at a consensus score of 1.70. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 0 of the 4 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the AUB, a number of firms have released research notes about the stock. Piper Sandler stated their Overweight rating for the stock in a research note on December 05, 2022, with the firm’s price target at $42. Hovde Group coverage for the Atlantic Union Bankshares Corporation (AUB) stock in a research note released on November 29, 2022 offered a Outperform rating with a price target of $41. Keefe Bruyette was of a view on April 22, 2022 that the stock is Outperform, while Piper Sandler gave the stock Overweight rating on December 16, 2021, issuing a price target of $41- $42. Seaport Global Securities on their part issued Buy rating on February 18, 2021.