Norges Bank Purchases New Position in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Norges Bank acquired a new position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 183,653 shares of the company's stock, valued at approximately $6,957,000. Norges Bank owned approximately 0.20% of Atlantic Union Bankshares at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the business. Wesbanco Bank Inc. lifted its holdings in Atlantic Union Bankshares by 37.3% during the 4th quarter. Wesbanco Bank Inc. now owns 62,700 shares of the company's stock valued at $2,375,000 after purchasing an additional 17,035 shares during the last quarter. Sandy Spring Bank lifted its position in shares of Atlantic Union Bankshares by 598.2% during the fourth quarter. Sandy Spring Bank now owns 38,654 shares of the company's stock worth $1,464,000 after purchasing an additional 33,118 shares in the last quarter. Stifel Financial Corp boosted its position in Atlantic Union Bankshares by 1.3% in the 3rd 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 during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Atlantic Union Bankshares during the fourth quarter worth $6,923,000. Finally, Vanguard Group Inc. increased its position in Atlantic Union Bankshares by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 10,953,700 shares of the company's stock worth $414,926,000 after purchasing an additional 27,604 shares during the period. 78.58% of the stock is currently owned by institutional investors and hedge funds.

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Atlantic Union Bankshares Stock Up 1.0 %

Shares of NASDAQ:AUB traded up $0.23 during mid-day trading on Monday, reaching $24.08. 86,449 shares of the stock were exchanged, compared to its average volume of 836,711. The company has a market cap of $2.17 billion, a P/E ratio of 10.50 and a beta of 0.80. The stock's 50 day simple moving average is $32.76 and its 200-day simple moving average is $36.79. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.13. Atlantic Union Bankshares Co. has a one year low of $22.85 and a one year high of $44.54.

Atlantic Union Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 5.65%. The ex-dividend date of this dividend was Friday, February 14th. Atlantic Union Bankshares's payout ratio is presently 59.39%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on AUB. Morgan Stanley assumed coverage on Atlantic Union Bankshares in a research note on Wednesday, April 9th. They set an "equal weight" rating and a $32.00 price objective for the company. Piper Sandler initiated coverage on shares of Atlantic Union Bankshares in a research report on Monday, January 13th. They issued an "overweight" rating and a $51.00 price target 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 note on Monday, March 17th. Finally, Keefe, Bruyette & Woods cut their target price 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. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $41.33.

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.