Bank of New York Mellon Corp Boosts Stock Position in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Bank of New York Mellon Corp grew its holdings in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 8.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,171,836 shares of the company's stock after purchasing an additional 94,883 shares during the period. 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.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. HighPoint Advisor Group LLC lifted its stake in Atlantic Union Bankshares by 5.2% during the fourth quarter. HighPoint Advisor Group LLC now owns 6,292 shares of the company's stock valued at $244,000 after buying an additional 312 shares in the last quarter. Atria Investments Inc boosted its stake in Atlantic Union Bankshares by 5.9% in the 4th quarter. Atria Investments Inc now owns 5,834 shares of the company's stock worth $221,000 after purchasing an additional 326 shares during the period. OneDigital Investment Advisors LLC grew its position in Atlantic Union Bankshares by 8.7% during the 1st quarter. OneDigital Investment Advisors LLC now owns 6,619 shares of the company's stock worth $206,000 after purchasing an additional 527 shares in the last quarter. Xponance Inc. raised its stake in Atlantic Union Bankshares by 9.5% during the 4th quarter. Xponance Inc. now owns 6,424 shares of the company's stock valued at $243,000 after purchasing an additional 556 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its stake in Atlantic Union Bankshares by 1.9% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 30,755 shares of the company's stock valued at $958,000 after purchasing an additional 575 shares during the period. 78.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AUB has been the subject of several recent research reports. Jefferies Financial Group set a $37.00 price objective on Atlantic Union Bankshares and gave the stock a "buy" rating in a report on Wednesday, May 21st. Morgan Stanley initiated coverage on shares of Atlantic Union Bankshares in a research note on Wednesday, April 9th. They set an "equal weight" rating and a $32.00 price target on the stock. Keefe, Bruyette & Woods reduced 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 research note on Monday, April 28th. Hovde Group lowered their target price on shares of Atlantic Union Bankshares from $46.00 to $40.00 and set an "outperform" rating on the stock in a research report on Monday, March 17th. Finally, Raymond James Financial raised Atlantic Union Bankshares from an "outperform" rating to a "strong-buy" rating and boosted their price target for the stock from $37.00 to $41.00 in a research report on Tuesday, June 10th. Two 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. Based on data from MarketBeat, Atlantic Union Bankshares has a consensus rating of "Moderate Buy" and an average target price of $39.00.

Atlantic Union Bankshares Stock Down 4.1%

Shares of AUB stock traded down $1.36 on Tuesday, hitting $31.97. 1,127,731 shares of the stock were exchanged, compared to its average volume of 1,137,861. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $4.56 billion, a P/E ratio of 13.96 and a beta of 0.86. Atlantic Union Bankshares Co. has a fifty-two week low of $22.85 and a fifty-two week high of $44.54. The business has a 50-day moving average of $30.85 and a 200 day moving average of $32.30.

Atlantic Union Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 23rd were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 4.25%. The ex-dividend date was Friday, May 23rd. Atlantic Union Bankshares's payout ratio is 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.