Kennondale Capital Management LLC Acquires Shares of 24,849 Atlantic Union Bankshares Co. (NASDAQ:AUB)

Kennondale Capital Management LLC bought a new position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 24,849 shares of the company's stock, valued at approximately $941,000.

A number of other institutional investors have also recently made changes to their positions in the stock. State Street Corp increased its stake in Atlantic Union Bankshares by 3.0% during the 3rd quarter. State Street Corp now owns 4,492,014 shares of the company's stock valued at $169,214,000 after purchasing an additional 130,104 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Atlantic Union Bankshares by 0.7% during the third quarter. Geode Capital Management LLC now owns 2,065,862 shares of the company's stock valued at $77,836,000 after purchasing an additional 14,823 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Atlantic Union Bankshares by 20.0% during the third quarter. Franklin Resources Inc. now owns 1,621,527 shares of the company's stock valued at $62,607,000 after purchasing an additional 270,470 shares in the last quarter. GW&K Investment Management LLC lifted its holdings in Atlantic Union Bankshares by 24.9% during the fourth quarter. GW&K Investment Management LLC now owns 1,553,719 shares of the company's stock valued at $58,855,000 after purchasing an additional 309,519 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Atlantic Union Bankshares by 0.3% during the fourth quarter. Bank of New York Mellon Corp now owns 1,076,953 shares of the company's stock valued at $40,795,000 after purchasing an additional 2,861 shares in the last quarter. Institutional investors own 78.58% of the company's stock.

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Analysts Set New Price Targets

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

Atlantic Union Bankshares Price Performance

AUB traded down $0.30 during trading hours on Friday, hitting $31.99. The company's stock had a trading volume of 3,261,934 shares, compared to its average volume of 681,060. The business's 50-day moving average price is $35.95 and its 200-day moving average price is $37.95. Atlantic Union Bankshares Co. has a 12 month low of $30.43 and a 12 month high of $44.54. The stock has a market cap of $2.87 billion, a price-to-earnings ratio of 13.97 and a beta of 0.91. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.13.

Atlantic Union Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 4.25%. The ex-dividend date was Friday, February 14th. Atlantic Union Bankshares's dividend payout ratio is presently 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.