Franklin Resources Inc. Purchases 45,669 Shares of Atlantic Union Bankshares Co. (NASDAQ:AUB)

Franklin Resources Inc. increased its holdings in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 2.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,667,196 shares of the company's stock after acquiring an additional 45,669 shares during the quarter. Franklin Resources Inc. owned about 1.86% of Atlantic Union Bankshares worth $63,153,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of AUB. Vanguard Group Inc. raised its position in shares of Atlantic Union Bankshares by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 10,953,700 shares of the company's stock valued at $414,926,000 after buying an additional 27,604 shares in the last quarter. State Street Corp increased its position 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 during the period. Geode Capital Management LLC raised its position in shares of 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 worth $77,836,000 after acquiring an additional 14,823 shares in the last quarter. GW&K Investment Management LLC lifted its position in shares of Atlantic Union Bankshares by 24.9% during the 4th quarter. GW&K Investment Management LLC now owns 1,553,719 shares of the company's stock valued at $58,855,000 after acquiring an additional 309,519 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Atlantic Union Bankshares by 0.3% in the fourth quarter. Bank of New York Mellon Corp now owns 1,076,953 shares of the company's stock worth $40,795,000 after acquiring an additional 2,861 shares in the last quarter. Institutional investors and hedge funds own 78.58% of the company's stock.

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Atlantic Union Bankshares Trading Up 1.8 %

AUB stock traded up $0.46 on Tuesday, reaching $25.45. The company's stock had a trading volume of 207,773 shares, compared to its average volume of 792,679. The firm has a market cap of $2.29 billion, a PE ratio of 11.06 and a beta of 0.80. The business has a fifty day simple moving average of $34.30 and a two-hundred day simple moving average of $37.33. Atlantic Union Bankshares Co. has a 12-month low of $24.14 and a 12-month high of $44.54. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.91 and a current ratio of 0.91.

Atlantic Union Bankshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 5.34%. The ex-dividend date of this dividend was Friday, February 14th. Atlantic Union Bankshares's payout ratio is 59.39%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on AUB shares. Piper Sandler began coverage on shares of Atlantic Union Bankshares in a report on Monday, January 13th. They set an "overweight" rating and a $51.00 price target on the stock. Keefe, Bruyette & Woods reduced their price target 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 dropped their target price on shares of Atlantic Union Bankshares from $46.00 to $40.00 and set an "outperform" rating for the company in a research report on Monday, March 17th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price 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.