Ameriprise Financial Inc. Boosts Stake in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Ameriprise Financial Inc. boosted its stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 62.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 2,587,890 shares of the company's stock after buying an additional 990,583 shares during the period. Ameriprise Financial Inc. owned approximately 2.88% of Atlantic Union Bankshares worth $98,029,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of AUB. R Squared Ltd purchased a new stake in Atlantic Union Bankshares in the fourth quarter worth $28,000. Smartleaf Asset Management LLC lifted its holdings in Atlantic Union Bankshares by 186.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,074 shares of the company's stock valued at $41,000 after buying an additional 699 shares in the last quarter. GAMMA Investing LLC grew its stake in Atlantic Union Bankshares by 27.3% in the 4th quarter. GAMMA Investing LLC now owns 1,325 shares of the company's stock worth $50,000 after acquiring an additional 284 shares in the last quarter. Venturi Wealth Management LLC purchased a new position in shares of Atlantic Union Bankshares during the fourth quarter worth approximately $91,000. Finally, Sterling Capital Management LLC raised its stake in shares of Atlantic Union Bankshares by 838.1% during the fourth quarter. Sterling Capital Management LLC now owns 2,880 shares of the company's stock valued at $109,000 after acquiring an additional 2,573 shares in the last quarter. 78.58% of the stock is currently owned by institutional investors.

Atlantic Union Bankshares Stock Down 0.4 %

Shares of Atlantic Union Bankshares stock traded down $0.12 on Friday, reaching $29.28. The stock had a trading volume of 1,305,790 shares, compared to its average volume of 955,965. Atlantic Union Bankshares Co. has a 1 year low of $22.85 and a 1 year high of $44.54. The company has a 50 day moving average price of $28.78 and a 200 day moving average price of $35.33. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $2.64 billion, a P/E ratio of 12.79 and a beta of 0.83.

Atlantic Union Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $1.36 annualized dividend and a dividend yield of 4.64%. Atlantic Union Bankshares's dividend payout ratio is presently 62.10%.

Analysts Set New Price Targets

Several research analysts have commented on AUB shares. Piper Sandler started coverage on Atlantic Union Bankshares in a report on Monday, January 13th. They set an "overweight" rating and a $51.00 price objective on the stock. Morgan Stanley assumed coverage on shares of Atlantic Union Bankshares in a research note on Wednesday, April 9th. They issued an "equal weight" rating and a $32.00 price objective for the company. Keefe, Bruyette & Woods cut their target price on shares of Atlantic Union Bankshares from $40.00 to $33.00 and set a "market perform" rating on the stock in a research report on Monday, April 28th. Finally, Hovde Group lowered their price target on shares of Atlantic Union Bankshares from $46.00 to $40.00 and set an "outperform" rating for the company in a research report on Monday, March 17th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $39.40.

About Atlantic Union Bankshares

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.