Intech Investment Management LLC Takes Position in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Intech Investment Management LLC acquired a new position in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 13,960 shares of the company's stock, valued at approximately $526,000.

A number of other hedge funds have also bought and sold shares of AUB. Natixis Advisors LLC boosted its stake in shares of Atlantic Union Bankshares by 24.2% in the 3rd quarter. Natixis Advisors LLC now owns 60,782 shares of the company's stock worth $2,290,000 after buying an additional 11,832 shares during the last quarter. Renaissance Technologies LLC purchased a new position in Atlantic Union Bankshares in the second quarter worth about $4,096,000. Bank of New York Mellon Corp grew its stake in shares of Atlantic Union Bankshares by 45.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,180,199 shares of the company's stock valued at $38,770,000 after purchasing an additional 368,190 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Atlantic Union Bankshares during the 3rd quarter valued at about $7,660,000. Finally, Pinnacle Associates Ltd. lifted its stake in shares of Atlantic Union Bankshares by 8.6% in the 3rd quarter. Pinnacle Associates Ltd. now owns 290,468 shares of the company's stock worth $10,614,000 after purchasing an additional 23,087 shares during the period. Hedge funds and other institutional investors own 78.58% of the company's stock.

Analyst Upgrades and Downgrades

AUB has been the topic of a number of recent research reports. Hovde Group decreased their target price on Atlantic Union Bankshares from $46.00 to $45.00 and set an "outperform" rating on the stock in a report on Friday, September 13th. Raymond James decreased their price objective on Atlantic Union Bankshares from $45.00 to $41.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 2nd. Finally, Keefe, Bruyette & Woods boosted their price objective on Atlantic Union Bankshares from $42.00 to $46.00 and gave the company a "market perform" rating in a research note on Friday, November 22nd. 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 presently has a consensus rating of "Moderate Buy" and a consensus price target of $42.00.

Atlantic Union Bankshares Price Performance

Shares of NASDAQ AUB traded up $0.67 during midday trading on Monday, reaching $43.11. 1,246,248 shares of the stock traded hands, compared to its average volume of 541,950. The company's 50 day moving average is $39.23 and its 200 day moving average is $36.92. Atlantic Union Bankshares Co. has a one year low of $30.43 and a one year high of $44.54. The stock has a market capitalization of $3.87 billion, a PE ratio of 17.84 and a beta of 0.89. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.90 and a quick ratio of 0.90.

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

Atlantic Union Bankshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend was Friday, November 8th. This is an increase from Atlantic Union Bankshares's previous quarterly dividend of $0.32. Atlantic Union Bankshares's dividend payout ratio is 56.43%.

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.