Millennium Management LLC Acquires 405,722 Shares of Atlantic Union Bankshares Co. (NASDAQ:AUB)

Millennium Management LLC boosted its stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 908.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 450,389 shares of the company's stock after purchasing an additional 405,722 shares during the quarter. Millennium Management LLC owned about 0.50% of Atlantic Union Bankshares worth $17,061,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AUB. North Reef Capital Management LP bought a new stake in shares of Atlantic Union Bankshares during the 4th quarter worth $78,942,000. American Century Companies Inc. raised its holdings in Atlantic Union Bankshares by 3,195.3% in the 4th quarter. American Century Companies Inc. now owns 1,056,073 shares of the company's stock worth $40,004,000 after acquiring an additional 1,024,025 shares during the period. Ameriprise Financial Inc. lifted its position in Atlantic Union Bankshares by 62.0% during the 4th quarter. Ameriprise Financial Inc. now owns 2,587,890 shares of the company's stock worth $98,029,000 after acquiring an additional 990,583 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Atlantic Union Bankshares by 275.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,031,898 shares of the company's stock valued at $38,129,000 after acquiring an additional 757,014 shares during the period. Finally, Schroder Investment Management Group bought a new stake in Atlantic Union Bankshares during the fourth quarter valued at about $25,490,000. Institutional investors and hedge funds own 78.58% of the company's stock.

Wall Street Analyst Weigh In

AUB has been the topic of a number of recent analyst reports. Jefferies Financial Group set a $37.00 price objective on Atlantic Union Bankshares and gave the stock a "buy" rating in a research note on Wednesday, May 21st. Morgan Stanley initiated 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 on the stock. Hovde Group cut their price target 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. Finally, Keefe, Bruyette & Woods reduced their price objective 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. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, Atlantic Union Bankshares has an average rating of "Moderate Buy" and an average target price of $39.00.

Atlantic Union Bankshares Stock Performance

AUB stock traded up $1.17 during trading on Tuesday, reaching $29.98. 810,182 shares of the stock were exchanged, compared to its average volume of 988,022. Atlantic Union Bankshares Co. has a twelve month low of $22.85 and a twelve month 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 company has a market capitalization of $4.27 billion, a P/E ratio of 13.09 and a beta of 0.83. The stock has a 50 day simple moving average of $28.22 and a 200-day simple moving average of $34.63.

Atlantic Union Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be paid a $0.34 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.54%. Atlantic Union Bankshares's payout ratio is 62.10%.

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.