Cary Street Partners Financial LLC Acquires Shares of 73,923 Atlantic Union Bankshares Co. (NASDAQ:AUB)

Cary Street Partners Financial LLC acquired a new position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 73,923 shares of the company's stock, valued at approximately $2,800,000. Cary Street Partners Financial LLC owned about 0.08% of Atlantic Union Bankshares at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in AUB. R Squared Ltd acquired a new position in shares of Atlantic Union Bankshares during the fourth quarter valued at about $28,000. Smartleaf Asset Management LLC raised its holdings in shares of Atlantic Union Bankshares by 186.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,074 shares of the company's stock worth $41,000 after buying an additional 699 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Atlantic Union Bankshares by 27.3% during the fourth quarter. GAMMA Investing LLC now owns 1,325 shares of the company's stock worth $50,000 after buying an additional 284 shares during the period. Venturi Wealth Management LLC purchased a new stake in shares of Atlantic Union Bankshares during the fourth quarter valued at $91,000. Finally, Sterling Capital Management LLC increased its position in shares of Atlantic Union Bankshares by 838.1% in the 4th 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 during the period. 78.58% of the stock is currently owned by institutional investors.

Atlantic Union Bankshares Price Performance

Shares of NASDAQ:AUB traded up $1.85 during midday trading on Monday, reaching $31.14. 189,043 shares of the company's stock traded hands, compared to its average volume of 952,950. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.91 and a current ratio of 0.91. The company has a fifty day simple moving average of $28.78 and a two-hundred day simple moving average of $35.33. The company has a market cap of $2.81 billion, a P/E ratio of 13.61 and a beta of 0.83. Atlantic Union Bankshares Co. has a 1 year low of $22.85 and a 1 year high of $44.54.

Atlantic Union Bankshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.37%. Atlantic Union Bankshares's dividend payout ratio is currently 62.10%.

Wall Street Analysts Forecast Growth

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