Intech Investment Management LLC Increases Stock Holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Intech Investment Management LLC increased its holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 169.8% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 37,671 shares of the company's stock after acquiring an additional 23,711 shares during the period. Intech Investment Management LLC's holdings in Atlantic Union Bankshares were worth $1,427,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. R Squared Ltd purchased a new position in shares of Atlantic Union Bankshares during the 4th quarter worth approximately $28,000. Nomura Asset Management Co. Ltd. boosted its position in shares of Atlantic Union Bankshares by 78.8% during the third quarter. Nomura Asset Management Co. Ltd. now owns 930 shares of the company's stock worth $35,000 after buying an additional 410 shares during the period. Smartleaf Asset Management LLC grew its stake in shares of Atlantic Union Bankshares by 186.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,074 shares of the company's stock valued at $41,000 after buying an additional 699 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Atlantic Union Bankshares by 27.3% in the 4th quarter. GAMMA Investing LLC now owns 1,325 shares of the company's stock valued at $50,000 after buying an additional 284 shares during the period. Finally, Quest Partners LLC purchased a new stake in shares of Atlantic Union Bankshares in the 3rd quarter valued at $56,000. Institutional investors and hedge funds own 78.58% of the company's stock.

Wall Street Analysts Forecast Growth

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

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Atlantic Union Bankshares Stock Down 1.5 %

Shares of AUB stock traded down $0.49 during trading hours on Wednesday, reaching $31.85. 1,445,226 shares of the stock were exchanged, compared to its average volume of 690,760. The business's fifty day moving average is $35.79 and its two-hundred day moving average is $37.87. The firm has a market capitalization of $2.86 billion, a P/E ratio of 13.91 and a beta of 0.91. Atlantic Union Bankshares Co. has a 12-month low of $30.43 and a 12-month high of $44.54. 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 Announces Dividend

The company also recently announced 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. The ex-dividend date was Friday, February 14th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.27%. Atlantic Union Bankshares's payout ratio is currently 59.39%.

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.