Homestead Advisers Corp Buys 19,700 Shares of Atlantic Union Bankshares Co. (NASDAQ:AUB)

Homestead Advisers Corp grew its position in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 15.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 149,292 shares of the company's stock after acquiring an additional 19,700 shares during the period. Homestead Advisers Corp owned about 0.17% of Atlantic Union Bankshares worth $4,649,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Bank of New York Mellon Corp raised its holdings in 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 during the last quarter. OneDigital Investment Advisors LLC grew its stake in shares of Atlantic Union Bankshares by 8.7% in the 1st quarter. OneDigital Investment Advisors LLC now owns 6,619 shares of the company's stock worth $206,000 after acquiring an additional 527 shares in the last quarter. DAVENPORT & Co LLC grew its stake in shares of Atlantic Union Bankshares by 25.6% in the 1st quarter. DAVENPORT & Co LLC now owns 558,451 shares of the company's stock worth $17,390,000 after acquiring an additional 113,760 shares in the last quarter. SG Americas Securities LLC bought a new position in Atlantic Union Bankshares during the first quarter valued at about $310,000. Finally, Amalgamated Bank grew its position in Atlantic Union Bankshares by 30.7% during the first quarter. Amalgamated Bank now owns 34,400 shares of the company's stock valued at $1,071,000 after buying an additional 8,073 shares during the period. Institutional investors and hedge funds own 78.58% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Raymond James Financial upgraded Atlantic Union Bankshares from an "outperform" rating to a "strong-buy" rating and lifted their price objective for the stock from $37.00 to $41.00 in a report on Tuesday, June 10th. 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 target for the company. Jefferies Financial Group set a $37.00 price target on Atlantic Union Bankshares and gave the company a "buy" rating in a report on Wednesday, May 21st. Finally, Keefe, Bruyette & Woods dropped their price target on Atlantic Union Bankshares from $40.00 to $33.00 and set a "market perform" rating on the stock in a research report 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. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $39.00.

Atlantic Union Bankshares Price Performance

Shares of NASDAQ AUB traded up $0.22 during mid-day trading on Tuesday, reaching $33.20. The company had a trading volume of 794,021 shares, compared to its average volume of 1,146,004. 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 stock has a market cap of $4.73 billion, a PE ratio of 14.50 and a beta of 0.86. The company has a 50-day moving average price of $31.24 and a two-hundred day moving average price of $32.13. Atlantic Union Bankshares Co. has a 1-year low of $22.85 and a 1-year high of $44.54.

Atlantic Union Bankshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 23rd were given 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 4.10%. Atlantic Union Bankshares's dividend payout ratio 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.