Amalgamated Bank Acquires 8,073 Shares of Atlantic Union Bankshares Co. (NASDAQ:AUB)

Amalgamated Bank grew its position in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 30.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,400 shares of the company's stock after purchasing an additional 8,073 shares during the quarter. Amalgamated Bank's holdings in Atlantic Union Bankshares were worth $1,071,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Illinois Municipal Retirement Fund grew its stake in Atlantic Union Bankshares by 3.7% in the first quarter. Illinois Municipal Retirement Fund now owns 50,285 shares of the company's stock valued at $1,566,000 after acquiring an additional 1,774 shares during the period. Asset Management One Co. Ltd. purchased a new stake in Atlantic Union Bankshares in the first quarter worth $196,000. Oppenheimer Asset Management Inc. grew its stake in Atlantic Union Bankshares by 1.9% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 30,755 shares of the company's stock valued at $958,000 after buying an additional 575 shares in the last quarter. ORG Wealth Partners LLC bought a new stake in Atlantic Union Bankshares during the 1st quarter worth approximately $100,000. Finally, Dover Advisors LLC purchased a new position in shares of Atlantic Union Bankshares during the first quarter worth about $324,000. Institutional investors and hedge funds own 78.58% of the company's stock.

Atlantic Union Bankshares Stock Performance

Shares of NASDAQ AUB traded up $0.47 during midday trading on Thursday, reaching $33.71. The company's stock had a trading volume of 841,904 shares, compared to its average volume of 1,136,877. Atlantic Union Bankshares Co. has a 12-month low of $22.85 and a 12-month high of $44.54. The stock has a market capitalization of $4.80 billion, a P/E ratio of 14.72 and a beta of 0.86. The firm has a 50 day moving average price of $30.77 and a 200-day moving average price of $32.42. 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 company also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 23rd were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $1.36 annualized dividend and a dividend yield of 4.03%. Atlantic Union Bankshares's payout ratio is 62.10%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Keefe, Bruyette & Woods dropped their price objective 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. Raymond James Financial raised shares of Atlantic Union Bankshares from an "outperform" rating to a "strong-buy" rating and boosted their target price for the company from $37.00 to $41.00 in a research note on Tuesday, June 10th. Jefferies Financial Group set a $37.00 target price on shares of Atlantic Union Bankshares and gave the stock a "buy" rating in a report on Wednesday, May 21st. Morgan Stanley began coverage on 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. Finally, Hovde Group decreased 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. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Atlantic Union Bankshares currently has an average rating of "Moderate Buy" and a consensus target price of $39.00.

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.