Atlantic Union Bankshares Co. (NASDAQ:AUB) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its position in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 49.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 649,264 shares of the company's stock after purchasing an additional 213,884 shares during the period. Principal Financial Group Inc. owned 0.72% of Atlantic Union Bankshares worth $20,218,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. NBC Securities Inc. purchased a new stake in shares of Atlantic Union Bankshares in the first quarter valued at approximately $25,000. Smartleaf Asset Management LLC boosted its holdings in shares of Atlantic Union Bankshares by 186.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,074 shares of the company's stock valued at $41,000 after purchasing an additional 699 shares during the period. Investment Management Corp VA ADV purchased a new stake in shares of Atlantic Union Bankshares in the fourth quarter valued at approximately $72,000. ORG Wealth Partners LLC purchased a new stake in shares of Atlantic Union Bankshares in the first quarter valued at approximately $100,000. Finally, Sterling Capital Management LLC boosted its holdings in shares of Atlantic Union Bankshares by 838.1% in the fourth 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. Hedge funds and other institutional investors own 78.58% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AUB. Keefe, Bruyette & Woods lowered their price target 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. Morgan Stanley started coverage on Atlantic Union Bankshares in a report on Wednesday, April 9th. They set an "equal weight" rating and a $32.00 target price for the company. Hovde Group lowered 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. Raymond James Financial upgraded Atlantic Union Bankshares from an "outperform" rating to a "strong-buy" rating and upped their target price for the stock from $37.00 to $41.00 in a report on Tuesday, June 10th. Finally, Jefferies Financial Group set a $37.00 target price on Atlantic Union Bankshares and gave the stock a "buy" rating in a report on Wednesday, May 21st. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $39.00.

Atlantic Union Bankshares Stock Down 1.7%

Shares of AUB stock traded down $0.56 during trading hours on Friday, reaching $33.11. 697,238 shares of the company's stock were exchanged, compared to its average volume of 1,138,343. The stock's 50 day moving average is $30.85 and its 200-day moving average is $32.34. The company has a market cap of $4.72 billion, a price-to-earnings ratio of 14.46 and a beta of 0.86. 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 fifty-two week low of $22.85 and a fifty-two week high of $44.54.

Atlantic Union Bankshares Dividend Announcement

The firm 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. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.11%. The ex-dividend date was Friday, May 23rd. Atlantic Union Bankshares's payout ratio is presently 62.10%.

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.