First Hawaiian Bank, a leading financial institution, has recently increased its stake in Atlantic Union Bankshares Co. by 53.3% in the second quarter of this year. This information was disclosed in the company’s latest filing with the Securities and Exchange Commission (SEC). The institutional investor now owns 16,710 shares of Atlantic Union Bankshares’ stock after purchasing an additional 5,807 shares during the quarter. At the end of the reporting period, First Hawaiian Bank’s holdings in Atlantic Union Bankshares were valued at $434,000.
Atlantic Union Bankshares (NASDAQ:AUB) recently announced its quarterly earnings results on July 25th. The company reported earnings per share (EPS) of $0.74 for the quarter, surpassing analysts’ consensus estimates of $0.69 by $0.05. This positive outcome demonstrates the company’s strong performance during this period. Additionally, Atlantic Union Bankshares achieved a return on equity (ROE) of 9.97% and a net margin of 24.25%. Despite experiencing a slight decrease in revenue compared to the prior year, with $179.95 million for the quarter as opposed to the consensus estimate of $177.87 million, Atlantic Union Bankshares remains optimistic about its future prospects.
Looking ahead, sell-side analysts predict that Atlantic Union Bankshares Co., driven by its consistent growth trajectory and positive financial indicators thus far, will post EPS of 2.75 for the current fiscal year.
This recent development showcases First Hawaiian Bank’s confidence and investment in Atlantic Union Bankshares Co., reflecting their belief in the bank’s potential for profitability and long-term success.
As always, it is essential for investors to conduct thorough analysis before making any financial decisions regarding individual stocks or sectors within the market. By carefully evaluating various factors such as earnings reports, industry trends, and market conditions, investors can make informed choices that align with their investment goals and risk tolerance.
In conclusion, the increase in First Hawaiian Bank’s stake in Atlantic Union Bankshares Co. illustrates the bank’s commitment to investing in promising companies. With its solid quarterly earnings results, Atlantic Union Bankshares continues to reinforce its position in the financial sector and is well-positioned for future success. Investors are advised to monitor the company’s performance closely and consider their individual investment strategies accordingly.
[bs_slider_forecast ticker=”SPTN”]
Atlantic Union Bankshares Co.: Promising Growth and Investor Confidence
Atlantic Union Bankshares Co., a financial institution with a market capitalization of $2.25 billion, has been attracting the attention of various institutional investors and hedge funds. In the first quarter of this year alone, Parallel Advisors LLC increased its holdings in the company by an astonishing 4,072.2%. Covestor Ltd also joined the bandwagon, increasing its position by 78%, while Quadrant Capital Group LLC boosted its stake by 57.9% during the fourth quarter. Ensign Peak Advisors Inc and Belpointe Asset Management LLC took notice as well, acquiring new positions worth $58,000 and $59,000 respectively.
These investments have contributed to Atlantic Union Bankshares’ steady growth in recent months. The stock opened at $29.95 on Monday and has shown resilience amidst market fluctuations, with a fifty-day moving average of $30.18 and a two hundred-day moving average of $30.05. While it experienced a twelve-month low of $23.32, it also reached a high of $41.04.
Keeping up with industry standards, Atlantic Union Bankshares Co. exhibits promising financial ratios that further bolster investor confidence in the company’s stability and potential for future growth. With a price-earnings (PE) ratio of 10.77 and a beta of 1.05, the company exhibits fair valuation relative to its earnings and demonstrates lower volatility compared to the overall market.
The firm recently announced that it declared a quarterly dividend which was paid on Friday, August 25th to investors who were recorded as shareholders on Friday, August 11th. Shareholders received a dividend of $0.30 per share, resulting in an annualized dividend payout of $1.20 per share and providing a respectable yield of 4.01%. These figures indicate that Atlantic Union Bankshares Co.’s payout ratio currently stands at 43%.
In terms of analyst coverage, Stephens initiated coverage on the company with an “overweight” rating and set a price target of $36.00 for the stock. This positive evaluation aligns with the general sentiment in the market, as four other analysts have assigned a buy rating to Atlantic Union Bankshares Co. Another research analyst has given it a hold rating. Bloomberg’s data reveals that the company has received an average rating of “Moderate Buy” from analysts, with a consensus price target of $35.80.
With significant investments from institutional investors and hedge funds, a stable financial position, and a favorable assessment from analysts, Atlantic Union Bankshares Co. appears well-positioned for continued success in the financial market. As potential investors explore their options, these factors provide an encouraging outlook for those considering adding Atlantic Union Bankshares Co.’s stock to their portfolios.
