Rafferty Asset Management LLC Increases Stake in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Rafferty Asset Management LLC lifted its stake in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 10.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 105,509 shares of the company's stock after purchasing an additional 10,085 shares during the quarter. Rafferty Asset Management LLC owned 0.12% of Atlantic Union Bankshares worth $3,997,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. R Squared Ltd purchased a new position in Atlantic Union Bankshares in the 4th quarter worth about $28,000. Smartleaf Asset Management LLC increased its position in shares of Atlantic Union Bankshares by 186.4% during the 4th 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 last quarter. Venturi Wealth Management LLC purchased a new stake in shares of Atlantic Union Bankshares during the 4th quarter valued at about $91,000. Sterling Capital Management LLC increased its holdings in Atlantic Union Bankshares by 838.1% in the 4th quarter. Sterling Capital Management LLC now owns 2,880 shares of the company's stock worth $109,000 after acquiring an additional 2,573 shares in the last quarter. Finally, KBC Group NV lifted its stake in shares of Atlantic Union Bankshares by 55.9% during the 4th quarter. KBC Group NV now owns 4,475 shares of the company's stock valued at $170,000 after buying an additional 1,605 shares in the last quarter. Hedge funds and other institutional investors own 78.58% of the company's stock.

Atlantic Union Bankshares Trading Down 1.8%

AUB traded down $0.52 during trading on Friday, reaching $28.82. The company had a trading volume of 1,164,980 shares, compared to its average volume of 988,737. The stock has a market cap of $4.11 billion, a P/E ratio of 12.59 and a beta of 0.83. The business has a 50 day simple moving average of $28.34 and a 200-day simple moving average of $34.81. Atlantic Union Bankshares Co. has a 52 week low of $22.85 and a 52 week high of $44.54. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.13.

Atlantic Union Bankshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be given a $0.34 dividend. The ex-dividend date is Friday, May 23rd. This represents a $1.36 dividend on an annualized basis and a yield of 4.72%. Atlantic Union Bankshares's dividend payout ratio is presently 62.10%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Hovde Group lowered their target price on shares of 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. Morgan Stanley assumed coverage on Atlantic Union Bankshares in a research report on Wednesday, April 9th. They set an "equal weight" rating and a $32.00 target price for the company. Jefferies Financial Group set a $37.00 target price on Atlantic Union Bankshares and gave the company a "buy" rating in a research report on Wednesday. Finally, Keefe, Bruyette & Woods lowered their target price 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 analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $39.00.

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.