Allspring Global Investments Holdings LLC Lowers Position in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Allspring Global Investments Holdings LLC decreased its holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 5.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 971,967 shares of the company's stock after selling 59,931 shares during the quarter. Allspring Global Investments Holdings LLC owned 1.08% of Atlantic Union Bankshares worth $29,392,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of AUB. SG Americas Securities LLC acquired a new position in shares of Atlantic Union Bankshares during the 1st quarter worth approximately $310,000. Norges Bank acquired a new position in Atlantic Union Bankshares during the fourth quarter worth $6,957,000. Sandy Spring Bank raised its position in Atlantic Union Bankshares by 598.2% during the fourth quarter. Sandy Spring Bank now owns 38,654 shares of the company's stock worth $1,464,000 after acquiring an additional 33,118 shares during the period. Deutsche Bank AG lifted its holdings in Atlantic Union Bankshares by 50.3% during the fourth quarter. Deutsche Bank AG now owns 77,693 shares of the company's stock valued at $2,943,000 after purchasing an additional 26,000 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Atlantic Union Bankshares by 2,412.4% in the first quarter. GAMMA Investing LLC now owns 33,289 shares of the company's stock valued at $1,069,000 after purchasing an additional 31,964 shares during the period. Hedge funds and other institutional investors own 78.58% of the company's stock.

Wall Street Analysts Forecast Growth

AUB has been the subject of several research analyst reports. Jefferies Financial Group set a $37.00 price target on shares of Atlantic Union Bankshares and gave the stock a "buy" rating in a research report on Wednesday, May 21st. Raymond James Financial raised Atlantic Union Bankshares from an "outperform" rating to a "strong-buy" rating and increased their target price for the company from $37.00 to $41.00 in a report on Tuesday, June 10th. Keefe, Bruyette & Woods lowered their price target on Atlantic Union Bankshares from $40.00 to $33.00 and set a "market perform" rating on the stock in a research note on Monday, April 28th. Morgan Stanley started coverage on Atlantic Union Bankshares in a research report on Wednesday, April 9th. They set an "equal weight" rating and a $32.00 price target for the company. Finally, Hovde Group reduced their price objective on Atlantic Union Bankshares from $46.00 to $40.00 and set an "outperform" rating for the company in a research note on Monday, March 17th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $39.00.

Atlantic Union Bankshares Price Performance

Shares of Atlantic Union Bankshares stock traded up $0.33 on Thursday, hitting $33.52. 599,685 shares of the company were exchanged, compared to its average volume of 1,126,861. 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 company has a 50-day moving average price of $30.20 and a 200 day moving average price of $32.58. The stock has a market capitalization of $4.77 billion, a price-to-earnings ratio of 14.64 and a beta of 0.86. 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 company also recently declared a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 23rd were paid a $0.34 dividend. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $1.36 annualized dividend and a dividend yield of 4.06%. Atlantic Union Bankshares's dividend payout ratio (DPR) is 62.10%.

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.