KLP Kapitalforvaltning AS Invests $680,000 in Atlantic Union Bankshares Co. (NASDAQ:AUB)

KLP Kapitalforvaltning AS bought a new position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 17,950 shares of the company's stock, valued at approximately $680,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in Atlantic Union Bankshares by 27.3% during the 4th quarter. GAMMA Investing LLC now owns 1,325 shares of the company's stock worth $50,000 after acquiring an additional 284 shares in the last quarter. Atria Investments Inc grew its stake in shares of Atlantic Union Bankshares by 5.9% during the fourth quarter. Atria Investments Inc now owns 5,834 shares of the company's stock worth $221,000 after purchasing an additional 326 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its stake in shares of Atlantic Union Bankshares by 78.8% during the third quarter. Nomura Asset Management Co. Ltd. now owns 930 shares of the company's stock worth $35,000 after purchasing an additional 410 shares in the last quarter. Pettyjohn Wood & White Inc. increased its holdings in Atlantic Union Bankshares by 5.2% in the fourth quarter. Pettyjohn Wood & White Inc. now owns 8,625 shares of the company's stock valued at $327,000 after buying an additional 425 shares during the last quarter. Finally, Stifel Financial Corp raised its stake in Atlantic Union Bankshares by 1.3% in the third quarter. Stifel Financial Corp now owns 32,485 shares of the company's stock valued at $1,224,000 after buying an additional 428 shares in the last quarter. Institutional investors and hedge funds own 78.58% of the company's stock.

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Atlantic Union Bankshares Stock Performance

Shares of Atlantic Union Bankshares stock traded down $1.84 on Friday, hitting $25.44. The stock had a trading volume of 2,505,507 shares, compared to its average volume of 788,770. The stock has a market cap of $2.29 billion, a price-to-earnings ratio of 11.11 and a beta of 0.80. 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 Co. has a 52-week low of $24.71 and a 52-week high of $44.54. The company's 50 day moving average price is $34.55 and its 200 day moving average price is $37.43.

Atlantic Union Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 5.35%. The ex-dividend date of this dividend was Friday, February 14th. Atlantic Union Bankshares's dividend payout ratio is currently 59.39%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Hovde Group lowered their price objective on 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. Piper Sandler began coverage on Atlantic Union Bankshares in a report on Monday, January 13th. They issued an "overweight" rating and a $51.00 price target for the company. Finally, Keefe, Bruyette & Woods cut 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 report on Thursday, January 30th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $43.20.

Atlantic Union Bankshares Company 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.