JPMorgan Chase & Co. boosted its stake in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 342.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 402,247 shares of the company's stock after acquiring an additional 311,290 shares during the quarter. JPMorgan Chase & Co. owned about 0.45% of Atlantic Union Bankshares worth $15,237,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of AUB. American Century Companies Inc. boosted its holdings in Atlantic Union Bankshares by 3,195.3% in the fourth quarter. American Century Companies Inc. now owns 1,056,073 shares of the company's stock valued at $40,004,000 after purchasing an additional 1,024,025 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Atlantic Union Bankshares by 275.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,031,898 shares of the company's stock valued at $38,129,000 after buying an additional 757,014 shares during the last quarter. Neumeier Poma Investment Counsel LLC acquired a new stake in shares of Atlantic Union Bankshares during the fourth quarter worth approximately $19,907,000. Burkehill Global Management LP bought a new stake in shares of Atlantic Union Bankshares in the fourth quarter worth $18,940,000. Finally, DAVENPORT & Co LLC raised its holdings in Atlantic Union Bankshares by 526.5% in the fourth quarter. DAVENPORT & Co LLC now owns 444,691 shares of the company's stock valued at $16,834,000 after acquiring an additional 373,709 shares in the last quarter. Hedge funds and other institutional investors own 78.58% of the company's stock.
Atlantic Union Bankshares Stock Performance
AUB stock traded up $0.67 during midday trading on Tuesday, reaching $24.77. The company had a trading volume of 2,532,460 shares, compared to its average volume of 852,623. Atlantic Union Bankshares Co. has a fifty-two week low of $22.85 and a fifty-two week high of $44.54. The firm has a market capitalization of $2.23 billion, a PE ratio of 10.81 and a beta of 0.80. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.13. The stock has a 50 day moving average price of $32.48 and a 200 day moving average price of $36.70.
Atlantic Union Bankshares Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 5.49%. The ex-dividend date of this dividend was Friday, February 14th. Atlantic Union Bankshares's dividend payout ratio (DPR) is 59.39%.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on AUB. 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 objective for the company. Hovde Group decreased their price target on Atlantic Union Bankshares from $46.00 to $40.00 and set an "outperform" rating for the company in a research note on Monday, March 17th. Keefe, Bruyette & Woods cut their price objective on Atlantic Union Bankshares from $46.00 to $44.00 and set a "market perform" rating on the stock in a research note on Thursday, January 30th. Finally, Morgan Stanley assumed coverage on Atlantic Union Bankshares in a research report on Wednesday, April 9th. They issued an "equal weight" rating and a $32.00 target price for the company. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Atlantic Union Bankshares currently has a consensus rating of "Moderate Buy" and an average price target of $41.33.
Check Out Our Latest Analysis on Atlantic Union Bankshares
Atlantic Union Bankshares Company Profile
(
Free Report)
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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