Jennison Associates LLC Boosts Stock Position in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Jennison Associates LLC grew its stake in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 21.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 536,814 shares of the company's stock after purchasing an additional 93,664 shares during the period. Jennison Associates LLC owned approximately 0.60% of Atlantic Union Bankshares worth $20,222,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in AUB. Oppenheimer & Co. Inc. increased its stake in shares of Atlantic Union Bankshares by 5.5% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 8,616 shares of the company's stock worth $325,000 after acquiring an additional 450 shares during the last quarter. UMB Bank n.a. increased its position in Atlantic Union Bankshares by 77.7% during the third quarter. UMB Bank n.a. now owns 1,105 shares of the company's stock worth $42,000 after purchasing an additional 483 shares during the last quarter. GAMMA Investing LLC raised its stake in Atlantic Union Bankshares by 88.6% during the third quarter. GAMMA Investing LLC now owns 1,041 shares of the company's stock worth $39,000 after purchasing an additional 489 shares during the period. Moors & Cabot Inc. raised its stake in Atlantic Union Bankshares by 5.5% during the second quarter. Moors & Cabot Inc. now owns 9,532 shares of the company's stock worth $313,000 after purchasing an additional 500 shares during the period. Finally, Trust Point Inc. boosted its holdings in Atlantic Union Bankshares by 2.0% in the 3rd quarter. Trust Point Inc. now owns 25,998 shares of the company's stock valued at $979,000 after purchasing an additional 513 shares during the last quarter. Institutional investors and hedge funds own 78.58% of the company's stock.

Analyst Upgrades and Downgrades

AUB has been the topic of several analyst reports. Keefe, Bruyette & Woods lifted their price target on shares of Atlantic Union Bankshares from $42.00 to $46.00 and gave the company a "market perform" rating in a research report on Friday. Hovde Group decreased their price target on 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. Finally, Raymond James lowered their price target on Atlantic Union Bankshares from $45.00 to $41.00 and set an "outperform" rating for the company in a report on Wednesday, October 2nd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $42.00.

Atlantic Union Bankshares Trading Up 1.8 %

Atlantic Union Bankshares stock traded up $0.74 during trading on Friday, hitting $42.63. The company had a trading volume of 832,297 shares, compared to its average volume of 1,073,987. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.13. The company's 50 day simple moving average is $38.82 and its 200-day simple moving average is $36.59. Atlantic Union Bankshares Co. has a 1-year low of $30.22 and a 1-year high of $43.57. The stock has a market cap of $3.83 billion, a price-to-earnings ratio of 17.69 and a beta of 0.89.

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 firm had revenue of $358.81 million for the quarter, compared to the consensus estimate 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 quarter in the previous year, the business earned $0.80 EPS. As a group, analysts expect that Atlantic Union Bankshares Co. will post 2.93 EPS for the current fiscal year.

Atlantic Union Bankshares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were paid a $0.34 dividend. This is a boost from Atlantic Union Bankshares's previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend was Friday, November 8th. Atlantic Union Bankshares's dividend payout ratio (DPR) is presently 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.