Atlantic Union Bankshares Corp Acquires 48,801 Shares of Atlantic Union Bankshares Co. (NASDAQ:AUB)

Atlantic Union Bankshares Corp lifted its holdings in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 11.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 489,977 shares of the company's stock after purchasing an additional 48,801 shares during the quarter. Atlantic Union Bankshares Corp owned 0.54% of Atlantic Union Bankshares worth $15,256,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Proficio Capital Partners LLC bought a new stake in Atlantic Union Bankshares during the fourth quarter worth about $392,000. Raymond James Financial Inc. acquired a new position in shares of Atlantic Union Bankshares in the 4th quarter valued at approximately $6,923,000. HighTower Advisors LLC lifted its holdings in shares of Atlantic Union Bankshares by 15.8% during the 4th quarter. HighTower Advisors LLC now owns 18,784 shares of the company's stock worth $712,000 after acquiring an additional 2,561 shares during the period. Natixis Advisors LLC boosted its position in shares of Atlantic Union Bankshares by 23.4% during the 4th quarter. Natixis Advisors LLC now owns 74,976 shares of the company's stock worth $2,840,000 after acquiring an additional 14,194 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its stake in Atlantic Union Bankshares by 14.7% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 14,366 shares of the company's stock valued at $544,000 after acquiring an additional 1,837 shares during the last quarter. 78.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AUB has been the subject of a number of research reports. Keefe, Bruyette & Woods dropped their target price 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. Jefferies Financial Group set a $37.00 target price on shares of Atlantic Union Bankshares and gave the company a "buy" rating in a research report on Wednesday, May 21st. 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 stock from $37.00 to $41.00 in a research note on Tuesday, June 10th. Finally, Morgan Stanley initiated coverage on shares of Atlantic Union Bankshares in a report on Wednesday, April 9th. They set an "equal weight" rating and a $32.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Atlantic Union Bankshares presently has a consensus rating of "Moderate Buy" and a consensus target price of $39.00.

Atlantic Union Bankshares Trading Down 0.5%

NASDAQ:AUB opened at $33.23 on Friday. The stock has a market capitalization of $4.73 billion, a price-to-earnings ratio of 14.51 and a beta of 0.86. The firm has a fifty day simple moving average of $31.24 and a two-hundred day simple moving average of $32.16. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.13. Atlantic Union Bankshares Co. has a 12 month low of $22.85 and a 12 month high of $44.54.

Atlantic Union Bankshares Announces Dividend

The firm also recently announced 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. This represents a $1.36 annualized dividend and a dividend yield of 4.09%. The ex-dividend date was Friday, May 23rd. 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.

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