Invesco Ltd. Purchases 123,565 Shares of Atlantic Union Bankshares Co. (NASDAQ:AUB)

Invesco Ltd. increased its position in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 59.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 330,570 shares of the company's stock after buying an additional 123,565 shares during the quarter. Invesco Ltd. owned 0.37% of Atlantic Union Bankshares worth $12,522,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of Montreal Can raised its position in Atlantic Union Bankshares by 11.1% during the 4th quarter. Bank of Montreal Can now owns 11,662 shares of the company's stock valued at $442,000 after purchasing an additional 1,169 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Atlantic Union Bankshares by 11.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 366,014 shares of the company's stock valued at $13,865,000 after acquiring an additional 37,471 shares in the last quarter. Dynamic Technology Lab Private Ltd lifted its stake in Atlantic Union Bankshares by 56.2% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 24,502 shares of the company's stock worth $928,000 after acquiring an additional 8,818 shares during the period. Wells Fargo & Company MN lifted its stake in Atlantic Union Bankshares by 16.5% in the fourth quarter. Wells Fargo & Company MN now owns 196,027 shares of the company's stock worth $7,425,000 after acquiring an additional 27,724 shares during the period. Finally, Landscape Capital Management L.L.C. purchased a new position in Atlantic Union Bankshares during the 4th quarter valued at $750,000. 78.58% of the stock is currently owned by institutional investors.

Atlantic Union Bankshares Price Performance

Shares of AUB opened at $24.63 on Tuesday. The firm's 50-day simple moving average is $31.10 and its two-hundred day simple moving average is $36.28. Atlantic Union Bankshares Co. has a fifty-two week low of $22.85 and a fifty-two week high of $44.54. The stock has a market cap of $2.22 billion, a PE ratio of 10.76 and a beta of 0.80. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 5.52%. The ex-dividend date was Friday, February 14th. Atlantic Union Bankshares's dividend payout ratio (DPR) is presently 59.39%.

Analyst Ratings Changes

Several equities research analysts have recently commented on AUB shares. 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. Morgan Stanley initiated coverage on shares of Atlantic Union Bankshares in a report on Wednesday, April 9th. They issued an "equal weight" rating and a $32.00 price objective for the company. Piper Sandler began coverage on Atlantic Union Bankshares in a report on Monday, January 13th. They set an "overweight" rating and a $51.00 target price on the stock. Finally, Keefe, Bruyette & Woods lowered their target price on Atlantic Union Bankshares from $46.00 to $44.00 and set a "market perform" rating for the company in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $41.33.

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.

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