Banque Pictet & Cie SA bought a new position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 14,391 shares of the company's stock, valued at approximately $448,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of AUB. North Reef Capital Management LP acquired a new stake in shares of Atlantic Union Bankshares during the fourth quarter worth $78,942,000. American Century Companies Inc. lifted its holdings in shares of Atlantic Union Bankshares by 3,195.3% during the fourth quarter. American Century Companies Inc. now owns 1,056,073 shares of the company's stock worth $40,004,000 after buying an additional 1,024,025 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Atlantic Union Bankshares by 62.0% during the fourth quarter. Ameriprise Financial Inc. now owns 2,587,890 shares of the company's stock worth $98,029,000 after buying an additional 990,583 shares in the last quarter. Schroder Investment Management Group acquired a new stake in shares of Atlantic Union Bankshares during the fourth quarter worth $25,490,000. Finally, Soros Fund Management LLC acquired a new stake in shares of Atlantic Union Bankshares during the fourth quarter worth $21,813,000. Institutional investors and hedge funds own 78.58% of the company's stock.
Analyst Upgrades and Downgrades
AUB has been the subject of a number of analyst reports. Raymond James Financial raised Atlantic Union Bankshares from an "outperform" rating to a "strong-buy" rating and boosted their price target for the company from $37.00 to $41.00 in a research note on Tuesday, June 10th. Hovde Group dropped their price target on 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. Jefferies Financial Group set a $37.00 price target on Atlantic Union Bankshares and gave the company a "buy" rating in a research note on Wednesday, May 21st. Morgan Stanley initiated coverage on Atlantic Union Bankshares in a research note on Wednesday, April 9th. They issued an "equal weight" rating and a $32.00 price target for the company. Finally, Keefe, Bruyette & Woods dropped their price target 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. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Atlantic Union Bankshares presently has an average rating of "Moderate Buy" and a consensus price target of $39.00.
Get Our Latest Report on AUB
Atlantic Union Bankshares Price Performance
Shares of AUB stock traded up $0.19 on Monday, reaching $33.33. The company had a trading volume of 1,028,040 shares, compared to its average volume of 1,137,900. The stock has a market capitalization of $4.75 billion, a PE ratio of 14.55 and a beta of 0.86. 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 Co. has a one year low of $22.85 and a one year high of $44.54. The business's 50-day moving average is $30.85 and its 200 day moving average is $32.30.
Atlantic Union Bankshares Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 23rd were issued a $0.34 dividend. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.08%. Atlantic Union Bankshares's dividend payout ratio (DPR) is currently 62.10%.
Atlantic Union Bankshares Company Profile
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Free Report)
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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