Envestnet Asset Management Inc. Has $10.92 Million Position in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Envestnet Asset Management Inc. cut its stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 4.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 350,573 shares of the company's stock after selling 15,441 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.39% of Atlantic Union Bankshares worth $10,917,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AUB. NBC Securities Inc. acquired a new position in shares of Atlantic Union Bankshares in the 1st quarter valued at about $25,000. Investment Management Corp VA ADV acquired a new position in shares of Atlantic Union Bankshares in the 4th quarter valued at about $72,000. Sterling Capital Management LLC lifted its stake in shares of Atlantic Union Bankshares by 838.1% in 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. ORG Wealth Partners LLC acquired a new position in shares of Atlantic Union Bankshares in the 1st quarter valued at about $100,000. Finally, GTS Securities LLC acquired a new position in shares of Atlantic Union Bankshares in the 4th quarter valued at about $204,000. 78.58% of the stock is owned by institutional investors and hedge funds.

Atlantic Union Bankshares Stock Performance

Shares of Atlantic Union Bankshares stock opened at $33.23 on Monday. Atlantic Union Bankshares Co. has a one year low of $22.85 and a one year high of $44.54. The firm has a market capitalization of $4.73 billion, a price-to-earnings ratio of 14.51 and a beta of 0.86. The business has a 50-day simple moving average of $31.24 and a 200 day simple moving average of $32.13. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.91 and a quick ratio of 0.91.

Atlantic Union Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 23rd were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date of this dividend was Friday, May 23rd. Atlantic Union Bankshares's payout ratio is 62.10%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on AUB shares. Jefferies Financial Group set a $37.00 price objective on Atlantic Union Bankshares and gave the company a "buy" rating in a research note on Wednesday, May 21st. Keefe, Bruyette & Woods dropped their price objective on Atlantic Union Bankshares from $40.00 to $33.00 and set a "market perform" rating on the stock in a research note on Monday, April 28th. Morgan Stanley started coverage on Atlantic Union Bankshares in a research note on Wednesday, April 9th. They issued an "equal weight" rating and a $32.00 price objective on the stock. Finally, Raymond James Financial raised Atlantic Union Bankshares from an "outperform" rating to a "strong-buy" rating and boosted their price objective for the company from $37.00 to $41.00 in a research note on Tuesday, June 10th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Atlantic Union Bankshares currently has an average rating of "Moderate Buy" and an average price target of $39.00.

Atlantic Union Bankshares 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.

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