14,391 Shares in Atlantic Union Bankshares Co. (NASDAQ:AUB) Acquired by Banque Pictet & Cie SA

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 the company. Bank of New York Mellon Corp lifted its holdings in shares of Atlantic Union Bankshares by 8.8% during the first quarter. Bank of New York Mellon Corp now owns 1,171,836 shares of the company's stock worth $36,491,000 after buying an additional 94,883 shares in the last quarter. OneDigital Investment Advisors LLC lifted its holdings in shares of Atlantic Union Bankshares by 8.7% during the first quarter. OneDigital Investment Advisors LLC now owns 6,619 shares of the company's stock worth $206,000 after buying an additional 527 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Atlantic Union Bankshares by 49.1% during the first quarter. Principal Financial Group Inc. now owns 649,264 shares of the company's stock worth $20,218,000 after buying an additional 213,884 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of Atlantic Union Bankshares by 40.7% during the first quarter. Oregon Public Employees Retirement Fund now owns 29,756 shares of the company's stock worth $927,000 after buying an additional 8,600 shares in the last quarter. Finally, Teacher Retirement System of Texas acquired a new position in Atlantic Union Bankshares in the first quarter valued at about $582,000. Institutional investors and hedge funds own 78.58% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. 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. Morgan Stanley assumed 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. 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. Finally, 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. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $39.00.

Atlantic Union Bankshares Price Performance

Atlantic Union Bankshares stock traded down $0.56 during midday trading on Friday, reaching $33.11. The company's stock had a trading volume of 697,238 shares, compared to its average volume of 1,136,311. Atlantic Union Bankshares Co. has a 52 week low of $22.85 and a 52 week 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. The business has a 50-day moving average price of $30.77 and a 200-day moving average price of $32.42. The stock has a market cap of $4.72 billion, a PE ratio of 14.46 and a beta of 0.86.

Atlantic Union Bankshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 23rd were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 4.11%. The ex-dividend date was Friday, May 23rd. Atlantic Union Bankshares's dividend payout ratio (DPR) is currently 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.