Jennison Associates LLC Buys 67,331 Shares of Atlantic Union Bankshares Co. (NASDAQ:AUB)

Jennison Associates LLC lifted its position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 26.8% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 318,822 shares of the company's stock after buying an additional 67,331 shares during the period. Jennison Associates LLC owned 0.42% of Atlantic Union Bankshares worth $11,650,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of AUB. DAVENPORT & Co LLC raised its stake in Atlantic Union Bankshares by 2.2% during the third quarter. DAVENPORT & Co LLC now owns 51,056 shares of the company's stock worth $1,469,000 after purchasing an additional 1,111 shares during the period. Pinnacle Associates Ltd. raised its stake in Atlantic Union Bankshares by 0.5% during the third quarter. Pinnacle Associates Ltd. now owns 292,038 shares of the company's stock worth $8,405,000 after purchasing an additional 1,566 shares during the period. Raymond James Financial Services Advisors Inc. raised its stake in Atlantic Union Bankshares by 5.8% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 32,273 shares of the company's stock worth $929,000 after purchasing an additional 1,773 shares during the period. Ceredex Value Advisors LLC purchased a new position in Atlantic Union Bankshares during the third quarter worth approximately $10,995,000. Finally, Redmond Asset Management LLC increased its position in shares of Atlantic Union Bankshares by 6.1% in the third quarter. Redmond Asset Management LLC now owns 57,653 shares of the company's stock worth $1,659,000 after acquiring an additional 3,300 shares in the last quarter. Hedge funds and other institutional investors own 78.58% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on AUB shares. Stephens dropped their price objective on shares of Atlantic Union Bankshares from $43.00 to $40.00 and set an "overweight" rating for the company in a research report on Wednesday. Keefe, Bruyette & Woods dropped their price objective on shares of Atlantic Union Bankshares from $36.00 to $35.00 and set a "market perform" rating for the company in a research report on Wednesday. Finally, Raymond James increased their price objective on shares of Atlantic Union Bankshares from $34.00 to $39.00 and gave the stock an "outperform" rating in a research report on Friday, January 5th.

Atlantic Union Bankshares Stock Performance

Shares of Atlantic Union Bankshares stock traded down $0.21 during trading hours on Friday, reaching $32.27. The company's stock had a trading volume of 244,833 shares, compared to its average volume of 415,576. The company's 50 day simple moving average is $33.55 and its 200 day simple moving average is $33.16. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.90 and a current ratio of 0.90. Atlantic Union Bankshares Co. has a one year low of $23.32 and a one year high of $37.86. The stock has a market cap of $2.43 billion, a P/E ratio of 11.86 and a beta of 0.94.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last released its earnings results on Tuesday, April 23rd. The company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.04). The company had revenue of $288.47 million for the quarter, compared to analyst estimates of $178.82 million. Atlantic Union Bankshares had a net margin of 19.51% and a return on equity of 9.47%. During the same period in the previous year, the business posted $0.63 EPS. As a group, analysts expect that Atlantic Union Bankshares Co. will post 3.24 EPS for the current fiscal year.

Insider Transactions at Atlantic Union Bankshares

In other Atlantic Union Bankshares news, Director Donald R. Kimble acquired 7,000 shares of the stock in a transaction dated Friday, March 8th. The shares were bought at an average price of $35.13 per share, with a total value of $245,910.00. Following the purchase, the director now directly owns 7,582 shares of the company's stock, valued at approximately $266,355.66. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.87% of the company's stock.

About Atlantic Union Bankshares

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.