Victory Capital Management Inc. Acquires 63,650 Shares of Atlantic Union Bankshares Co. (NASDAQ:AUB)

Victory Capital Management Inc. grew its position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 4.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,644,177 shares of the company's stock after acquiring an additional 63,650 shares during the quarter. Victory Capital Management Inc. owned about 1.82% of Atlantic Union Bankshares worth $51,200,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. NBC Securities Inc. acquired a new stake in shares of Atlantic Union Bankshares during the first quarter valued at approximately $25,000. CWM LLC boosted its stake in shares of Atlantic Union Bankshares by 99.4% during the 1st quarter. CWM LLC now owns 1,049 shares of the company's stock valued at $33,000 after buying an additional 523 shares during the period. Investment Management Corp VA ADV acquired a new stake in shares of Atlantic Union Bankshares during the 4th quarter valued at $72,000. ORG Wealth Partners LLC acquired a new stake in shares of Atlantic Union Bankshares during the 1st quarter valued at $100,000. Finally, Sterling Capital Management LLC boosted its stake in shares of Atlantic Union Bankshares by 838.1% during the 4th 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 period. Institutional investors and hedge funds own 78.58% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AUB. Raymond James Financial raised shares of Atlantic Union Bankshares from an "outperform" rating to a "strong-buy" rating and upped their price objective for the stock from $37.00 to $41.00 in a report on Tuesday, June 10th. Jefferies Financial Group set a $37.00 price objective on shares of Atlantic Union Bankshares and gave the stock a "buy" rating in a report on Wednesday, May 21st. Keefe, Bruyette & Woods decreased their price objective on shares of Atlantic Union Bankshares from $40.00 to $33.00 and set a "market perform" rating for the company in a report on Monday, April 28th. Finally, Morgan Stanley began coverage on shares of Atlantic Union Bankshares in a report on Wednesday, April 9th. They issued an "equal weight" rating and a $32.00 price target for the company. Two 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 company. According to MarketBeat, Atlantic Union Bankshares currently has a consensus rating of "Moderate Buy" and an average target price of $39.00.

Atlantic Union Bankshares Price Performance

AUB traded down $0.17 during midday trading on Friday, hitting $33.23. The company had a trading volume of 850,993 shares, compared to its average volume of 1,145,200. Atlantic Union Bankshares Co. has a twelve month low of $22.85 and a twelve month high of $44.54. The firm's 50-day simple moving average is $31.24 and its 200-day simple moving average is $32.20. 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 market capitalization of $4.73 billion, a PE ratio of 14.51 and a beta of 0.86.

Atlantic Union Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 23rd were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date was Friday, May 23rd. Atlantic Union Bankshares's dividend payout ratio is presently 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.