Vanguard Group Inc. Increases Stake in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Vanguard Group Inc. boosted its holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 0.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,953,700 shares of the company's stock after purchasing an additional 27,604 shares during the quarter. Vanguard Group Inc. owned about 12.20% of Atlantic Union Bankshares worth $414,926,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. State Street Corp grew its stake in shares of Atlantic Union Bankshares by 3.0% in the 3rd quarter. State Street Corp now owns 4,492,014 shares of the company's stock worth $169,214,000 after acquiring an additional 130,104 shares in the last quarter. Geode Capital Management LLC raised its stake in Atlantic Union Bankshares by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,065,862 shares of the company's stock valued at $77,836,000 after acquiring an additional 14,823 shares during the period. Franklin Resources Inc. lifted its stake in shares of Atlantic Union Bankshares by 20.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,621,527 shares of the company's stock valued at $62,607,000 after buying an additional 270,470 shares in the last quarter. GW&K Investment Management LLC lifted its position in shares of Atlantic Union Bankshares by 24.9% during the fourth quarter. GW&K Investment Management LLC now owns 1,553,719 shares of the company's stock worth $58,855,000 after acquiring an additional 309,519 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Atlantic Union Bankshares by 0.3% during the 4th quarter. Bank of New York Mellon Corp now owns 1,076,953 shares of the company's stock worth $40,795,000 after purchasing an additional 2,861 shares in the last quarter. 78.58% of the stock is currently owned by institutional investors and hedge funds.

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Atlantic Union Bankshares Stock Down 2.3 %

AUB traded down $0.59 on Monday, hitting $24.91. The company had a trading volume of 2,434,504 shares, compared to its average volume of 795,327. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.91 and a quick ratio of 0.91. Atlantic Union Bankshares Co. has a 52-week low of $24.14 and a 52-week high of $44.54. The firm has a market capitalization of $2.25 billion, a P/E ratio of 10.88 and a beta of 0.80. The stock has a fifty day simple moving average of $34.30 and a 200-day simple moving average of $37.33.

Atlantic Union Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 5.46%. The ex-dividend date of this dividend was Friday, February 14th. Atlantic Union Bankshares's payout ratio is currently 59.39%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Hovde Group dropped their price objective on Atlantic Union Bankshares from $46.00 to $40.00 and set an "outperform" rating for the company in a research note on Monday, March 17th. Piper Sandler started coverage on Atlantic Union Bankshares in a research note on Monday, January 13th. They set an "overweight" rating and a $51.00 price objective on the stock. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Atlantic Union Bankshares from $46.00 to $44.00 and set a "market perform" rating on the stock in a research note on Thursday, January 30th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $43.20.

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.