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

Wellington Management Group LLP acquired a new stake in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 68,099 shares of the company's stock, valued at approximately $2,580,000. Wellington Management Group LLP owned 0.08% of Atlantic Union Bankshares at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. HighPoint Advisor Group LLC lifted its holdings in Atlantic Union Bankshares by 5.2% in the fourth quarter. HighPoint Advisor Group LLC now owns 6,292 shares of the company's stock valued at $244,000 after buying an additional 312 shares during the period. Atria Investments Inc raised its holdings in Atlantic Union Bankshares by 5.9% in the fourth quarter. Atria Investments Inc now owns 5,834 shares of the company's stock worth $221,000 after purchasing an additional 326 shares during the period. Pettyjohn Wood & White Inc. raised its holdings in Atlantic Union Bankshares by 5.2% in the fourth quarter. Pettyjohn Wood & White Inc. now owns 8,625 shares of the company's stock worth $327,000 after purchasing an additional 425 shares during the period. CIBC Asset Management Inc raised its holdings in Atlantic Union Bankshares by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 8,731 shares of the company's stock worth $331,000 after purchasing an additional 431 shares during the period. Finally, Xponance Inc. raised its holdings in Atlantic Union Bankshares by 9.5% in the fourth quarter. Xponance Inc. now owns 6,424 shares of the company's stock worth $243,000 after purchasing an additional 556 shares during the period. 78.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AUB has been the topic of several analyst reports. Hovde Group cut 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 report on Monday, March 17th. Morgan Stanley initiated coverage on shares of Atlantic Union Bankshares in a report on Wednesday, April 9th. They issued an "equal weight" rating and a $32.00 target price on the stock. Keefe, Bruyette & Woods cut their target price on shares of Atlantic Union Bankshares from $40.00 to $33.00 and set a "market perform" rating on the stock in a report on Monday, April 28th. Finally, Jefferies Financial Group set a $37.00 target price on shares of Atlantic Union Bankshares and gave the stock a "buy" rating in a report on Wednesday, May 21st. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $39.00.

Atlantic Union Bankshares Stock Up 0.6%

Shares of AUB stock opened at $29.97 on Friday. The firm has a fifty day moving average of $27.96 and a 200-day moving average of $34.08. 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 Co. has a 12-month low of $22.85 and a 12-month high of $44.54. The company has a market capitalization of $4.27 billion, a price-to-earnings ratio of 13.09 and a beta of 0.86.

Atlantic Union Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 4.54%. The ex-dividend date of this dividend is Friday, May 23rd. Atlantic Union Bankshares's dividend payout ratio 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.

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