The Manufacturers Life Insurance Company Increases Stock Holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB)

The Manufacturers Life Insurance Company grew its stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 6.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,723,794 shares of the company's stock after purchasing an additional 103,275 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 1.92% of Atlantic Union Bankshares worth $65,297,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of AUB. R Squared Ltd acquired a new position in Atlantic Union Bankshares during the fourth quarter worth approximately $28,000. Smartleaf Asset Management LLC grew its position in shares of Atlantic Union Bankshares by 186.4% during the fourth 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 last quarter. GAMMA Investing LLC increased its holdings in shares of Atlantic Union Bankshares by 27.3% in the 4th quarter. GAMMA Investing LLC now owns 1,325 shares of the company's stock valued at $50,000 after acquiring an additional 284 shares during the period. Venturi Wealth Management LLC purchased a new stake in Atlantic Union Bankshares in the 4th quarter valued at $91,000. Finally, Sterling Capital Management LLC boosted its stake in Atlantic Union Bankshares by 838.1% during the 4th quarter. Sterling Capital Management LLC now owns 2,880 shares of the company's stock worth $109,000 after purchasing an additional 2,573 shares during the period. Hedge funds and other institutional investors own 78.58% of the company's stock.

Atlantic Union Bankshares Stock Performance

Shares of AUB stock opened at $27.87 on Wednesday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.13. The stock has a 50 day simple moving average of $29.81 and a 200-day simple moving average of $35.86. The company has a market cap of $2.51 billion, a price-to-earnings ratio of 12.17 and a beta of 0.80. Atlantic Union Bankshares Co. has a 12-month low of $22.85 and a 12-month high of $44.54.

Atlantic Union Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 4.88%. The ex-dividend date was Friday, February 14th. Atlantic Union Bankshares's dividend payout ratio (DPR) is currently 62.10%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Hovde Group dropped 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. Keefe, Bruyette & Woods reduced their price objective on Atlantic Union Bankshares from $40.00 to $33.00 and set a "market perform" rating for the company in a research note on Monday. Piper Sandler started coverage on Atlantic Union Bankshares in a research note on Monday, January 13th. They issued an "overweight" rating and a $51.00 target price on the stock. Finally, Morgan Stanley started coverage on Atlantic Union Bankshares in a research note on Wednesday, April 9th. They set an "equal weight" rating and a $32.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price 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.

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