Connor Clark & Lunn Investment Management Ltd. Purchases Shares of 98,955 Atlantic Union Bankshares Co. (NASDAQ:AUB)

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 98,955 shares of the company's stock, valued at approximately $3,748,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.11% of Atlantic Union Bankshares as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Atria Investments Inc purchased a new position in Atlantic Union Bankshares during the third quarter valued at $207,000. Oppenheimer & Co. Inc. lifted its position in Atlantic Union Bankshares by 5.5% during the third quarter. Oppenheimer & Co. Inc. now owns 8,616 shares of the company's stock valued at $325,000 after buying an additional 450 shares during the period. Natixis Advisors LLC lifted its position in Atlantic Union Bankshares by 24.2% during the third quarter. Natixis Advisors LLC now owns 60,782 shares of the company's stock valued at $2,290,000 after buying an additional 11,832 shares during the period. Quest Partners LLC purchased a new position in Atlantic Union Bankshares during the third quarter valued at $56,000. Finally, PNC Financial Services Group Inc. lifted its position in Atlantic Union Bankshares by 2.0% during the third quarter. PNC Financial Services Group Inc. now owns 49,019 shares of the company's stock valued at $1,847,000 after buying an additional 958 shares during the period. Institutional investors own 78.58% of the company's stock.

Atlantic Union Bankshares Stock Performance

NASDAQ:AUB traded down $0.30 during mid-day trading on Friday, reaching $31.99. The company's stock had a trading volume of 3,253,262 shares, compared to its average volume of 680,223. Atlantic Union Bankshares Co. has a 12-month low of $30.43 and a 12-month high of $44.54. The firm's fifty day moving average price is $36.01 and its two-hundred day moving average price is $38.01. 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 market cap of $2.87 billion, a P/E ratio of 13.97 and a beta of 0.91.

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Atlantic Union Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date was Friday, February 14th. Atlantic Union Bankshares's dividend payout ratio (DPR) is 59.39%.

Wall Street Analyst Weigh In

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

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.