Franklin Resources Inc. Purchases 270,470 Shares of Atlantic Union Bankshares Co. (NASDAQ:AUB)

Franklin Resources Inc. boosted its stake in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 20.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,621,527 shares of the company's stock after buying an additional 270,470 shares during the quarter. Franklin Resources Inc. owned approximately 1.81% of Atlantic Union Bankshares worth $62,607,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its holdings in shares of Atlantic Union Bankshares by 13.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,681,290 shares of the company's stock worth $186,626,000 after acquiring an additional 690,400 shares in the last quarter. State Street Corp increased its holdings in Atlantic Union Bankshares by 3.0% during the 3rd quarter. State Street Corp now owns 4,492,014 shares of the company's stock valued at $169,214,000 after purchasing an additional 130,104 shares in the last quarter. Westwood Holdings Group Inc. raised its position in Atlantic Union Bankshares by 1.2% in the 2nd quarter. Westwood Holdings Group Inc. now owns 2,658,342 shares of the company's stock valued at $87,327,000 after purchasing an additional 30,586 shares during the last quarter. Geode Capital Management LLC boosted its stake in Atlantic Union Bankshares by 0.7% in the third quarter. Geode Capital Management LLC now owns 2,065,862 shares of the company's stock worth $77,836,000 after purchasing an additional 14,823 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Atlantic Union Bankshares by 8.8% during the second quarter. Victory Capital Management Inc. now owns 1,595,728 shares of the company's stock worth $52,420,000 after purchasing an additional 128,447 shares during the last quarter. Institutional investors and hedge funds own 78.58% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on AUB shares. Raymond James reduced their price target on shares of Atlantic Union Bankshares from $45.00 to $41.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 2nd. Keefe, Bruyette & Woods boosted their target price on shares of Atlantic Union Bankshares from $42.00 to $46.00 and gave the stock a "market perform" rating in a research note on Friday, November 22nd. Finally, Hovde Group decreased their price target on shares of Atlantic Union Bankshares from $46.00 to $45.00 and set an "outperform" rating on the stock in a research note on Friday, September 13th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Atlantic Union Bankshares presently has an average rating of "Moderate Buy" and an average target price of $42.00.

Atlantic Union Bankshares Trading Down 3.0 %

NASDAQ:AUB traded down $1.22 on Tuesday, hitting $39.63. 800,289 shares of the stock were exchanged, compared to its average volume of 552,245. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.90 and a current ratio of 0.90. Atlantic Union Bankshares Co. has a 52 week low of $30.43 and a 52 week high of $44.54. The stock has a market capitalization of $3.56 billion, a price-to-earnings ratio of 16.95 and a beta of 0.91. The company's 50-day moving average price is $40.32 and its 200 day moving average price is $37.62.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last posted its quarterly earnings results on Monday, October 21st. The company reported $0.83 earnings per share for the quarter, topping analysts' consensus estimates of $0.82 by $0.01. Atlantic Union Bankshares had a net margin of 16.25% and a return on equity of 8.85%. The business had revenue of $358.81 million during the quarter, compared to the consensus estimate of $226.70 million. During the same period in the previous year, the firm posted $0.80 earnings per share. On average, equities research analysts forecast that Atlantic Union Bankshares Co. will post 2.93 earnings per share for the current year.

Atlantic Union Bankshares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were paid a dividend of $0.34 per share. The ex-dividend date was Friday, November 8th. This is a boost from Atlantic Union Bankshares's previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.43%. Atlantic Union Bankshares's payout ratio is 56.43%.

Atlantic Union Bankshares Company 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.