Tributary Capital Management LLC Lowers Stake in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Tributary Capital Management LLC decreased its position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 3.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 682,795 shares of the company's stock after selling 23,047 shares during the quarter. Atlantic Union Bankshares comprises approximately 1.9% of Tributary Capital Management LLC's investment portfolio, making the stock its 17th largest position. Tributary Capital Management LLC owned approximately 0.76% of Atlantic Union Bankshares worth $21,262,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. NBC Securities Inc. purchased a new position in Atlantic Union Bankshares during the 1st quarter worth $25,000. CWM LLC grew its holdings in shares of Atlantic Union Bankshares by 99.4% in the first quarter. CWM LLC now owns 1,049 shares of the company's stock valued at $33,000 after acquiring an additional 523 shares in the last quarter. Investment Management Corp VA ADV purchased a new position in Atlantic Union Bankshares in the fourth quarter worth $72,000. Concord Wealth Partners grew its stake in Atlantic Union Bankshares by 304.1% in the 1st quarter. Concord Wealth Partners now owns 2,728 shares of the company's stock valued at $85,000 after purchasing an additional 2,053 shares during the period. Finally, ORG Wealth Partners LLC bought a new stake in shares of Atlantic Union Bankshares during the 1st quarter worth $100,000. Institutional investors and hedge funds own 78.58% of the company's stock.

Atlantic Union Bankshares Trading Down 0.5%

Shares of AUB stock traded down $0.17 on Friday, reaching $33.23. The company had a trading volume of 850,993 shares, compared to its average volume of 1,145,200. The company has a 50-day moving average of $31.24 and a 200-day moving average of $32.13. Atlantic Union Bankshares Co. has a 12 month low of $22.85 and a 12 month high of $44.54. The stock has a market cap of $4.73 billion, a PE ratio of 14.51 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 23rd were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 4.09%. The ex-dividend date of this dividend was Friday, May 23rd. Atlantic Union Bankshares's payout ratio is presently 62.10%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AUB. Jefferies Financial Group set a $37.00 price objective on Atlantic Union Bankshares and gave the company a "buy" rating in a research report on Wednesday, May 21st. 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. Raymond James Financial raised shares of Atlantic Union Bankshares from an "outperform" rating to a "strong-buy" rating and lifted their price target for the stock from $37.00 to $41.00 in a report on Tuesday, June 10th. Finally, 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. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target 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.