Atlantic Union Bankshares Co. (NASDAQ:AUB) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its stake in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 275.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,031,898 shares of the company's stock after purchasing an additional 757,014 shares during the quarter. Allspring Global Investments Holdings LLC owned about 1.15% of Atlantic Union Bankshares worth $38,129,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in AUB. Natixis Advisors LLC increased its position in shares of Atlantic Union Bankshares by 24.2% during the third quarter. Natixis Advisors LLC now owns 60,782 shares of the company's stock worth $2,290,000 after acquiring an additional 11,832 shares during the last quarter. Wesbanco Bank Inc. increased its position in shares of Atlantic Union Bankshares by 37.3% during the fourth quarter. Wesbanco Bank Inc. now owns 62,700 shares of the company's stock worth $2,375,000 after acquiring an additional 17,035 shares during the last quarter. Stifel Financial Corp increased its position in shares of Atlantic Union Bankshares by 1.3% during the third quarter. Stifel Financial Corp now owns 32,485 shares of the company's stock worth $1,224,000 after acquiring an additional 428 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Atlantic Union Bankshares during the third quarter worth about $591,000. Finally, BNP Paribas Financial Markets increased its position in shares of Atlantic Union Bankshares by 95.5% during the third quarter. BNP Paribas Financial Markets now owns 35,346 shares of the company's stock worth $1,331,000 after acquiring an additional 17,265 shares during the last quarter. 78.58% of the stock is owned by hedge funds and other institutional investors.

Atlantic Union Bankshares Stock Performance

AUB stock traded up $0.43 during midday trading on Tuesday, reaching $37.88. The company had a trading volume of 230,736 shares, compared to its average volume of 908,996. 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 stock has a 50 day moving average price of $38.00 and a 200 day moving average price of $38.57. Atlantic Union Bankshares Co. has a fifty-two week low of $30.43 and a fifty-two week high of $44.54. The firm has a market capitalization of $3.40 billion, a PE ratio of 16.55 and a beta of 0.92.

Atlantic Union Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a $0.34 dividend. The ex-dividend date is Friday, February 14th. This represents a $1.36 dividend on an annualized basis and a yield of 3.59%. Atlantic Union Bankshares's payout ratio is currently 59.39%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Hovde Group lowered their price objective on Atlantic Union Bankshares from $47.00 to $46.00 and set an "outperform" rating for the company in a report on Monday, January 27th. Piper Sandler assumed coverage on Atlantic Union Bankshares in a report on Monday, January 13th. They issued an "overweight" rating and a $51.00 price objective for the company. Finally, Keefe, Bruyette & Woods lowered their price objective on Atlantic Union Bankshares from $46.00 to $44.00 and set a "market perform" rating for the company in a report on Thursday, January 30th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $44.40.

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.