Atlantic Union Bankshares Co. (NASDAQ:AUB) Stake Trimmed by Bank of America Corp DE

Bank of America Corp DE trimmed its stake in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 25.1% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 268,379 shares of the company's stock after selling 90,046 shares during the quarter. Bank of America Corp DE owned approximately 0.30% of Atlantic Union Bankshares worth $10,166,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of Atlantic Union Bankshares during the fourth quarter valued at $6,957,000. Sandy Spring Bank increased its holdings in shares of Atlantic Union Bankshares by 598.2% during the fourth quarter. Sandy Spring Bank now owns 38,654 shares of the company's stock valued at $1,464,000 after purchasing an additional 33,118 shares during the period. Wesbanco Bank Inc. increased its holdings in shares of Atlantic Union Bankshares by 37.3% during the fourth quarter. Wesbanco Bank Inc. now owns 62,700 shares of the company's stock valued at $2,375,000 after purchasing an additional 17,035 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Atlantic Union Bankshares during the fourth quarter valued at $6,923,000. Finally, Vanguard Group Inc. increased its holdings in shares of Atlantic Union Bankshares by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 10,953,700 shares of the company's stock valued at $414,926,000 after purchasing an additional 27,604 shares during the period. 78.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on AUB shares. Hovde Group lowered their price target on Atlantic Union Bankshares from $46.00 to $40.00 and set an "outperform" rating on the stock in a report on Monday, March 17th. Morgan Stanley started coverage on Atlantic Union Bankshares in a report on Wednesday, April 9th. They set an "equal weight" rating and a $32.00 price target on the stock. 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 report on Monday, April 28th. Finally, Jefferies Financial Group set a $37.00 target price on Atlantic Union Bankshares and gave the stock a "buy" rating in a report on Wednesday, May 21st. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Atlantic Union Bankshares presently has a consensus rating of "Moderate Buy" and a consensus price target of $39.00.

Atlantic Union Bankshares Price Performance

NASDAQ:AUB traded up $0.02 during mid-day trading on Wednesday, reaching $29.99. 366,082 shares of the stock were exchanged, compared to its average volume of 985,665. The business has a fifty day moving average price of $28.22 and a 200 day moving average price of $34.63. The firm has a market capitalization of $4.27 billion, a PE ratio of 13.13 and a beta of 0.83. Atlantic Union Bankshares Co. has a 1-year low of $22.85 and a 1-year high of $44.54. 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 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be paid a $0.34 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $1.36 dividend on an annualized basis and a yield of 4.53%. Atlantic Union Bankshares's dividend payout ratio is currently 62.10%.

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.