Peregrine Capital Management LLC Grows Stock Holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Peregrine Capital Management LLC lifted its holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 11.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 177,247 shares of the company's stock after buying an additional 18,438 shares during the quarter. Peregrine Capital Management LLC owned approximately 0.20% of Atlantic Union Bankshares worth $5,519,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. New York State Teachers Retirement System grew its stake in Atlantic Union Bankshares by 38.3% in the 1st quarter. New York State Teachers Retirement System now owns 29,460 shares of the company's stock worth $917,000 after acquiring an additional 8,160 shares in the last quarter. Amalgamated Bank boosted its holdings in shares of Atlantic Union Bankshares by 30.7% in the 1st 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 in the last quarter. Illinois Municipal Retirement Fund increased its position in shares of Atlantic Union Bankshares by 3.7% during the first quarter. Illinois Municipal Retirement Fund now owns 50,285 shares of the company's stock worth $1,566,000 after purchasing an additional 1,774 shares in the last quarter. Asset Management One Co. Ltd. purchased a new stake in Atlantic Union Bankshares in the first quarter valued at about $196,000. Finally, Oppenheimer Asset Management Inc. boosted its stake in Atlantic Union Bankshares by 1.9% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 30,755 shares of the company's stock worth $958,000 after purchasing an additional 575 shares in the last quarter. 78.58% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AUB has been the subject of a number of analyst reports. Morgan Stanley started coverage on Atlantic Union Bankshares in a report on Wednesday, April 9th. They issued an "equal weight" rating and a $32.00 price target for the company. Hovde Group decreased their price target on Atlantic Union Bankshares from $46.00 to $40.00 and set an "outperform" rating on the stock in a research note on Monday, March 17th. Raymond James Financial upgraded Atlantic Union Bankshares from an "outperform" rating to a "strong-buy" rating and increased their price objective for the company from $37.00 to $41.00 in a research note on Tuesday, June 10th. Jefferies Financial Group set a $37.00 price target on shares of Atlantic Union Bankshares and gave the stock a "buy" rating in a research note on Wednesday, May 21st. Finally, Keefe, Bruyette & Woods cut their target price 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 issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Atlantic Union Bankshares currently has a consensus rating of "Moderate Buy" and an average target price of $39.00.

Atlantic Union Bankshares Price Performance

AUB traded up $0.33 during trading on Friday, reaching $33.52. 599,685 shares of the stock were exchanged, compared to its average volume of 1,126,861. The business's 50 day moving average price is $30.33 and its two-hundred day moving average price is $32.53. The company has a market capitalization of $4.77 billion, a price-to-earnings ratio of 14.64 and a beta of 0.86. Atlantic Union Bankshares Co. has a 1 year low of $22.85 and a 1 year high of $44.54. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 23rd were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date was Friday, May 23rd. Atlantic Union Bankshares's dividend payout ratio is currently 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.