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

Rafferty Asset Management LLC grew its holdings in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 10.6% in the 4th quarter, according to the company in its most recent 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 approximately 0.12% of Atlantic Union Bankshares worth $3,997,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in AUB. Point72 Asset Management L.P. bought a new position in shares of Atlantic Union Bankshares during the 4th quarter worth $445,000. ProShare Advisors LLC grew its stake in shares of Atlantic Union Bankshares by 1.3% during the 4th quarter. ProShare Advisors LLC now owns 208,363 shares of the company's stock worth $7,893,000 after acquiring an additional 2,666 shares during the period. Occudo Quantitative Strategies LP grew its stake in shares of Atlantic Union Bankshares by 45.2% during the 4th quarter. Occudo Quantitative Strategies LP now owns 8,367 shares of the company's stock worth $317,000 after acquiring an additional 2,605 shares during the period. Millennium Management LLC grew its stake in shares of Atlantic Union Bankshares by 908.3% during the 4th quarter. Millennium Management LLC now owns 450,389 shares of the company's stock worth $17,061,000 after acquiring an additional 405,722 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Atlantic Union Bankshares by 4.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 50,910 shares of the company's stock worth $1,928,000 after acquiring an additional 1,950 shares during the period. 78.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Keefe, Bruyette & Woods cut their price target on Atlantic Union Bankshares from $40.00 to $33.00 and set a "market perform" rating for the company in a research note on Monday, April 28th. 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 report on Monday, March 17th. Finally, Morgan Stanley began coverage on shares of Atlantic Union Bankshares in a report on Wednesday, April 9th. They issued an "equal weight" rating and a $32.00 price target on the stock. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $39.40.

Atlantic Union Bankshares Price Performance

Shares of AUB stock opened at $30.97 on Monday. Atlantic Union Bankshares Co. has a 1-year low of $22.85 and a 1-year high of $44.54. The stock's 50-day moving average is $28.60 and its 200 day moving average is $35.10. The company has a market cap of $2.79 billion, a P/E ratio of 13.52 and a beta of 0.83. 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 declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 4.39%. The ex-dividend date of this dividend is Friday, May 23rd. Atlantic Union Bankshares's dividend payout ratio (DPR) 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.

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