DAVENPORT & Co LLC boosted its stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 526.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 444,691 shares of the company's stock after purchasing an additional 373,709 shares during the period. DAVENPORT & Co LLC owned 0.50% of Atlantic Union Bankshares worth $16,834,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. R Squared Ltd bought a new stake in Atlantic Union Bankshares in the fourth quarter valued at approximately $28,000. Nomura Asset Management Co. Ltd. raised its stake in Atlantic Union Bankshares by 78.8% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 930 shares of the company's stock valued at $35,000 after acquiring an additional 410 shares during the period. GAMMA Investing LLC lifted its holdings in Atlantic Union Bankshares by 88.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,041 shares of the company's stock valued at $39,000 after purchasing an additional 489 shares during the last quarter. UMB Bank n.a. increased its holdings in shares of Atlantic Union Bankshares by 77.7% in the third quarter. UMB Bank n.a. now owns 1,105 shares of the company's stock valued at $42,000 after purchasing an additional 483 shares during the last quarter. Finally, Quest Partners LLC bought a new position in shares of Atlantic Union Bankshares in the third quarter valued at about $56,000. 78.58% of the stock is currently owned by institutional investors.
Atlantic Union Bankshares Price Performance
Atlantic Union Bankshares stock traded up $0.74 during midday trading on Thursday, reaching $39.07. The company's stock had a trading volume of 967,188 shares, compared to its average volume of 941,933. The stock has a market cap of $3.51 billion, a PE ratio of 17.06 and a beta of 0.92. 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 business has a 50-day moving average price of $38.63 and a 200-day moving average price of $38.73. Atlantic Union Bankshares Co. has a 52 week low of $30.43 and a 52 week high of $44.54.
Atlantic Union Bankshares Announces Dividend
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 issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 3.48%. The ex-dividend date is Friday, February 14th. Atlantic Union Bankshares's payout ratio is presently 59.39%.
Wall Street Analyst Weigh In
AUB has been the topic of a number of research reports. Piper Sandler started 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 target on the stock. Keefe, Bruyette & Woods reduced their target price on shares of 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. Finally, Hovde Group decreased their target price on shares of Atlantic Union Bankshares from $47.00 to $46.00 and set an "outperform" rating on the stock in a research report on Monday, January 27th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $44.40.
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About Atlantic Union Bankshares
(
Free Report)
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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