Atlantic Union Bankshares Co. (NASDAQ:AUB) Shares Purchased by Ameriprise Financial Inc.

Ameriprise Financial Inc. grew its position in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 62.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,587,890 shares of the company's stock after acquiring an additional 990,583 shares during the quarter. Ameriprise Financial Inc. owned about 2.88% of Atlantic Union Bankshares worth $98,029,000 at the end of the most recent reporting period.

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

Atlantic Union Bankshares Trading Down 1.0%

AUB stock traded down $0.32 on Wednesday, hitting $31.12. 240,024 shares of the company were exchanged, compared to its average volume of 959,912. The business's fifty day moving average is $28.69 and its two-hundred day moving average is $35.27. The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of 13.59 and a beta of 0.83. Atlantic Union Bankshares Co. has a twelve month low of $22.85 and a twelve month high of $44.54. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.91 and a quick ratio of 0.91.

Atlantic Union Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be issued a dividend of $0.34 per share. The ex-dividend date is Friday, May 23rd. This represents a $1.36 annualized dividend and a yield of 4.37%. Atlantic Union Bankshares's dividend payout ratio is presently 62.10%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AUB. Keefe, Bruyette & Woods reduced their target price on Atlantic Union Bankshares from $40.00 to $33.00 and set a "market perform" rating for the company in a research note on Monday, April 28th. Hovde Group dropped their price objective on Atlantic Union Bankshares from $46.00 to $40.00 and set an "outperform" rating on the stock in a report on Monday, March 17th. Finally, Morgan Stanley began coverage on Atlantic Union Bankshares in a research note on Wednesday, April 9th. They set an "equal weight" rating and a $32.00 target price for the company. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Atlantic Union Bankshares has an average rating of "Moderate Buy" and a consensus target price of $39.40.

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.