Canal Capital Management LLC Decreases Stock Position in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Canal Capital Management LLC cut its holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 9.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 59,681 shares of the company’s stock after selling 6,584 shares during the quarter. Canal Capital Management LLC owned 0.07% of Atlantic Union Bankshares worth $2,248,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Atlantic Union Bankshares by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 9,290,826 shares of the company’s stock worth $339,487,000 after purchasing an additional 111,580 shares during the period. Park Avenue Securities LLC boosted its position in shares of Atlantic Union Bankshares by 4.6% during the first quarter. Park Avenue Securities LLC now owns 10,178 shares of the company’s stock valued at $359,000 after buying an additional 444 shares during the period. Oliver Luxxe Assets LLC grew its stake in shares of Atlantic Union Bankshares by 51.2% during the first quarter. Oliver Luxxe Assets LLC now owns 31,291 shares of the company’s stock valued at $1,105,000 after buying an additional 10,597 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Atlantic Union Bankshares by 2.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 322,223 shares of the company’s stock worth $11,378,000 after buying an additional 8,924 shares during the period. Finally, Maryland State Retirement & Pension System lifted its stake in shares of Atlantic Union Bankshares by 18.1% during the 1st quarter. Maryland State Retirement & Pension System now owns 32,206 shares of the company’s stock worth $1,137,000 after acquiring an additional 4,942 shares during the last quarter. 78.58% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on AUB shares. Hovde Group reduced their target price on Atlantic Union Bankshares from $46.00 to $45.00 and set an “outperform” rating on the stock in a research note on Friday, September 13th. Keefe, Bruyette & Woods boosted their price objective 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. Finally, Raymond James reduced their target price on shares of Atlantic Union Bankshares from $45.00 to $41.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Atlantic Union Bankshares currently has an average rating of “Moderate Buy” and an average price target of $40.40.

Atlantic Union Bankshares Stock Up 0.8 %

Shares of Atlantic Union Bankshares stock opened at $37.10 on Friday. Atlantic Union Bankshares Co. has a 1 year low of $27.12 and a 1 year high of $42.50. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market cap of $3.33 billion, a price-to-earnings ratio of 15.39 and a beta of 0.89. The firm’s 50-day moving average is $37.83 and its two-hundred day moving average is $35.43.

Atlantic Union Bankshares (NASDAQ:AUB) last posted its earnings results 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 company had revenue of $358.81 million during 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 prior year, the business earned $0.80 earnings per share. As a group, research analysts expect that Atlantic Union Bankshares Co. will post 3.01 earnings per share for the current fiscal year.

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.