DAVENPORT & Co LLC Has $17.39 Million Stock Holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB)

DAVENPORT & Co LLC grew its position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 25.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 558,451 shares of the company's stock after acquiring an additional 113,760 shares during the quarter. DAVENPORT & Co LLC owned about 0.62% of Atlantic Union Bankshares worth $17,390,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. North Reef Capital Management LP bought a new stake in Atlantic Union Bankshares in the fourth quarter worth about $78,942,000. American Century Companies Inc. grew its stake in shares of Atlantic Union Bankshares by 3,195.3% in the 4th quarter. American Century Companies Inc. now owns 1,056,073 shares of the company's stock worth $40,004,000 after purchasing an additional 1,024,025 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Atlantic Union Bankshares by 62.0% in the 4th quarter. Ameriprise Financial Inc. now owns 2,587,890 shares of the company's stock worth $98,029,000 after purchasing an additional 990,583 shares in the last quarter. Schroder Investment Management Group acquired a new stake in Atlantic Union Bankshares during the fourth quarter valued at approximately $25,490,000. Finally, Soros Fund Management LLC bought a new stake in Atlantic Union Bankshares during the fourth quarter worth approximately $21,813,000. Institutional investors own 78.58% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on AUB shares. Jefferies Financial Group set a $37.00 price target on Atlantic Union Bankshares and gave the company a "buy" rating in a report on Wednesday, May 21st. 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 report on Monday, April 28th. Raymond James Financial upgraded Atlantic Union Bankshares from an "outperform" rating to a "strong-buy" rating and increased their price target for the company from $37.00 to $41.00 in a research report on Tuesday, June 10th. Morgan Stanley initiated coverage on Atlantic Union Bankshares in a report on Wednesday, April 9th. They set an "equal weight" rating and a $32.00 price objective on the stock. Finally, Hovde Group reduced their price objective on shares of 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 analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $39.00.

Atlantic Union Bankshares Stock Up 1.6%

Shares of Atlantic Union Bankshares stock traded up $0.54 during midday trading on Wednesday, hitting $33.20. The company's stock had a trading volume of 909,753 shares, compared to its average volume of 1,123,022. Atlantic Union Bankshares Co. has a 1-year low of $22.85 and a 1-year high of $44.54. 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 firm has a market capitalization of $4.73 billion, a P/E ratio of 14.50 and a beta of 0.86. The stock has a 50-day simple moving average of $29.92 and a 200-day simple moving average of $32.62.

Atlantic Union Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Shareholders 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 dividend on an annualized basis and a yield of 4.10%. Atlantic Union Bankshares's payout ratio is presently 62.10%.

Atlantic Union Bankshares Company 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.