Wellington Management Group LLP Takes Position in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Wellington Management Group LLP purchased a new stake in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 68,099 shares of the company's stock, valued at approximately $2,580,000. Wellington Management Group LLP owned approximately 0.08% of Atlantic Union Bankshares as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Smartleaf Asset Management LLC increased its holdings in Atlantic Union Bankshares by 186.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,074 shares of the company's stock worth $41,000 after acquiring an additional 699 shares during the period. Investment Management Corp VA ADV bought a new position in shares of Atlantic Union Bankshares in the fourth quarter worth $72,000. Venturi Wealth Management LLC purchased a new stake in shares of Atlantic Union Bankshares in the fourth quarter worth $91,000. Sterling Capital Management LLC raised its position 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 worth $109,000 after buying an additional 2,573 shares in the last quarter. Finally, KBC Group NV boosted its stake in Atlantic Union Bankshares by 55.9% during the fourth 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 during the period. 78.58% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Jefferies Financial Group set a $37.00 target price on Atlantic Union Bankshares and gave the stock a "buy" rating in a research note on Wednesday, May 21st. Keefe, Bruyette & Woods decreased their price objective on shares of 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. Morgan Stanley began coverage on shares of 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. Finally, Hovde Group decreased their price target on shares of Atlantic Union Bankshares from $46.00 to $40.00 and set an "outperform" rating on the stock in a report on Monday, March 17th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $39.00.

Atlantic Union Bankshares Price Performance

Shares of NASDAQ AUB traded up $0.72 during trading hours on Monday, reaching $31.32. 2,022,541 shares of the stock traded hands, compared to its average volume of 1,023,816. The company's 50-day simple moving average is $27.97 and its two-hundred day simple moving average is $33.89. The company has a market capitalization of $4.46 billion, a P/E ratio of 13.67 and a beta of 0.86. 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 23rd were paid a $0.34 dividend. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.34%. Atlantic Union Bankshares's dividend payout ratio (DPR) is 62.10%.

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.