Northern Trust Corp Purchases 97,323 Shares of Atlantic Union Bankshares Co. (NASDAQ:AUB)

Northern Trust Corp raised its holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 9.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,161,216 shares of the company's stock after acquiring an additional 97,323 shares during the quarter. Northern Trust Corp owned 1.29% of Atlantic Union Bankshares worth $43,987,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of AUB. R Squared Ltd bought a new position in Atlantic Union Bankshares during the fourth quarter valued at approximately $28,000. Smartleaf Asset Management LLC raised its position in shares of Atlantic Union Bankshares by 186.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,074 shares of the company's stock valued at $41,000 after purchasing an additional 699 shares during the period. GAMMA Investing LLC raised its position in shares of Atlantic Union Bankshares by 27.3% in the fourth quarter. GAMMA Investing LLC now owns 1,325 shares of the company's stock valued at $50,000 after purchasing an additional 284 shares during the period. Venturi Wealth Management LLC bought a new position in shares of Atlantic Union Bankshares in the fourth quarter valued at approximately $91,000. Finally, 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 valued at $109,000 after purchasing an additional 2,573 shares during the period. 78.58% of the stock is owned by institutional investors and hedge funds.

Atlantic Union Bankshares Stock Performance

AUB traded up $1.94 during trading on Monday, reaching $31.23. 2,078,304 shares of the company's stock were exchanged, compared to its average volume of 960,469. Atlantic Union Bankshares Co. has a fifty-two week low of $22.85 and a fifty-two 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. The business has a 50 day moving average price of $28.78 and a 200 day moving average price of $35.33. The company has a market capitalization of $2.82 billion, a P/E ratio of 13.64 and a beta of 0.83.

Atlantic Union Bankshares Announces Dividend

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 dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $1.36 dividend on an annualized basis and a yield of 4.35%. Atlantic Union Bankshares's dividend payout ratio is currently 62.10%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods lowered 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 note on Monday, April 28th. Hovde Group lowered their price objective on shares of Atlantic Union Bankshares from $46.00 to $40.00 and set an "outperform" rating on the stock in a research note on Monday, March 17th. Morgan Stanley assumed coverage on shares of Atlantic Union Bankshares in a research note on Wednesday, April 9th. They issued an "equal weight" rating and a $32.00 price objective on the stock. Finally, Piper Sandler began coverage on shares of Atlantic Union Bankshares in a research note on Monday, January 13th. They issued an "overweight" rating and a $51.00 price objective on the stock. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $39.40.

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.