Cornerstone Investment Partners LLC Acquires Shares of 8,088 Atlantic Union Bankshares Co. (NASDAQ:AUB)

Cornerstone Investment Partners LLC acquired a new stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 8,088 shares of the company's stock, valued at approximately $252,000.

Other hedge funds have also recently bought and sold shares of the company. NBC Securities Inc. bought a new position in Atlantic Union Bankshares during the 1st quarter worth approximately $25,000. Smartleaf Asset Management LLC increased its position in Atlantic Union Bankshares by 186.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,074 shares of the company's stock valued at $41,000 after acquiring an additional 699 shares during the period. Investment Management Corp VA ADV acquired a new stake in Atlantic Union Bankshares in the 4th quarter valued at approximately $72,000. ORG Wealth Partners LLC acquired a new stake in Atlantic Union Bankshares in the 1st quarter valued at approximately $100,000. Finally, Sterling Capital Management LLC increased its position in shares of Atlantic Union Bankshares by 838.1% during the 4th quarter. Sterling Capital Management LLC now owns 2,880 shares of the company's stock valued at $109,000 after purchasing an additional 2,573 shares during the period. Institutional investors and hedge funds own 78.58% of the company's stock.

Atlantic Union Bankshares Stock Performance

Shares of Atlantic Union Bankshares stock traded up $0.47 during trading on Thursday, reaching $33.71. The company's stock had a trading volume of 841,904 shares, compared to its average volume of 1,136,877. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.91 and a current ratio of 0.91. The business's fifty day moving average price is $30.66 and its 200-day moving average price is $32.45. The firm has a market cap of $4.80 billion, a price-to-earnings ratio of 14.72 and a beta of 0.86. Atlantic Union Bankshares Co. has a one year low of $22.85 and a one year high of $44.54.

Atlantic Union Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 23rd were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $1.36 annualized dividend and a yield of 4.03%. Atlantic Union Bankshares's dividend payout ratio is 62.10%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AUB. 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. Hovde Group reduced their price objective on Atlantic Union Bankshares from $46.00 to $40.00 and set an "outperform" rating for the company in a research report on Monday, March 17th. 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. Keefe, Bruyette & Woods reduced 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 report on Monday, April 28th. Finally, Morgan Stanley assumed 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. Two 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. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $39.00.

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.