Bank of New York Mellon Corp Buys 94,883 Shares of Atlantic Union Bankshares Co. (NASDAQ:AUB)

Bank of New York Mellon Corp boosted its position in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 8.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,171,836 shares of the company's stock after buying an additional 94,883 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.30% of Atlantic Union Bankshares worth $36,491,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of AUB. North Reef Capital Management LP purchased a new position in shares of Atlantic Union Bankshares in the fourth quarter valued at $78,942,000. American Century Companies Inc. grew its position in shares of Atlantic Union Bankshares by 3,195.3% in the fourth quarter. American Century Companies Inc. now owns 1,056,073 shares of the company's stock valued at $40,004,000 after purchasing an additional 1,024,025 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of Atlantic Union Bankshares by 62.0% in the fourth quarter. Ameriprise Financial Inc. now owns 2,587,890 shares of the company's stock valued at $98,029,000 after purchasing an additional 990,583 shares in the last quarter. Schroder Investment Management Group purchased a new position in shares of Atlantic Union Bankshares in the fourth quarter valued at $25,490,000. Finally, Soros Fund Management LLC purchased a new position in shares of Atlantic Union Bankshares in the fourth quarter valued at $21,813,000. 78.58% of the stock is owned by hedge funds and other institutional investors.

Atlantic Union Bankshares Price Performance

NASDAQ:AUB traded down $0.23 during trading hours on Friday, hitting $33.17. 318,403 shares of the company's stock traded hands, compared to its average volume of 1,140,525. The firm has a market cap of $4.73 billion, a P/E ratio of 14.50 and a beta of 0.86. Atlantic Union Bankshares Co. has a 52 week low of $22.85 and a 52 week high of $44.54. The business's fifty day simple moving average is $31.16 and its two-hundred day simple moving average is $32.23. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.13.

Atlantic Union Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 23rd were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date was Friday, May 23rd. Atlantic Union Bankshares's dividend payout ratio (DPR) is presently 62.10%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AUB. Morgan Stanley began coverage on Atlantic Union Bankshares in a research report on Wednesday, April 9th. They issued an "equal weight" rating and a $32.00 price target for the company. Jefferies Financial Group set a $37.00 price target on Atlantic Union Bankshares and gave the company a "buy" rating in a research report on Wednesday, May 21st. 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. Finally, Raymond James Financial raised Atlantic Union Bankshares from an "outperform" rating to a "strong-buy" rating and lifted their price objective for the company from $37.00 to $41.00 in a research note on Tuesday, June 10th. Two equities research 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's 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 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.