Cornerstone Investment Partners LLC acquired a new stake in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 8,088 shares of the company's stock, valued at approximately $252,000.
Several other large investors also recently made changes to their positions in the stock. Banque Pictet & Cie SA acquired a new stake in shares of Atlantic Union Bankshares in the 1st quarter valued at approximately $448,000. Bank of New York Mellon Corp raised its stake in Atlantic Union Bankshares by 8.8% in the 1st quarter. Bank of New York Mellon Corp now owns 1,171,836 shares of the company's stock valued at $36,491,000 after acquiring an additional 94,883 shares during the period. OneDigital Investment Advisors LLC raised its stake in Atlantic Union Bankshares by 8.7% in the 1st quarter. OneDigital Investment Advisors LLC now owns 6,619 shares of the company's stock valued at $206,000 after acquiring an additional 527 shares during the period. Principal Financial Group Inc. raised its stake in Atlantic Union Bankshares by 49.1% in the 1st quarter. Principal Financial Group Inc. now owns 649,264 shares of the company's stock valued at $20,218,000 after acquiring an additional 213,884 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its stake in Atlantic Union Bankshares by 40.7% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 29,756 shares of the company's stock valued at $927,000 after acquiring an additional 8,600 shares during the period. Institutional investors and hedge funds own 78.58% of the company's stock.
Atlantic Union Bankshares Stock Down 1.7%
Atlantic Union Bankshares stock traded down $0.56 during trading on Friday, hitting $33.11. 697,238 shares of the company were exchanged, compared to its average volume of 1,138,343. The business's 50 day moving average is $30.85 and its 200 day moving average is $32.30. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.13. Atlantic Union Bankshares Co. has a 52 week low of $22.85 and a 52 week high of $44.54. The company has a market capitalization of $4.72 billion, a P/E 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 given a dividend of $0.34 per share. The ex-dividend date was Friday, May 23rd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.11%. Atlantic Union Bankshares's dividend payout ratio is presently 62.10%.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on 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 note on Wednesday, May 21st. Raymond James Financial upgraded Atlantic Union Bankshares from an "outperform" rating to a "strong-buy" rating and increased their price target for the company from $37.00 to $41.00 in a research note on Tuesday, June 10th. 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 on the stock. Keefe, Bruyette & Woods dropped their target price on Atlantic Union Bankshares from $40.00 to $33.00 and set a "market perform" rating for the company in a report on Monday, April 28th. Finally, Hovde Group dropped their target price on Atlantic Union Bankshares from $46.00 to $40.00 and set an "outperform" rating for the company in a report on Monday, March 17th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Atlantic Union Bankshares presently has an average rating of "Moderate Buy" and a consensus target price of $39.00.
View Our Latest Stock Report on Atlantic Union Bankshares
Atlantic Union Bankshares Profile
(
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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