Peregrine Capital Management LLC Makes New $6.02 Million Investment in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Peregrine Capital Management LLC purchased a new stake 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 & Exchange Commission. The institutional investor purchased 158,809 shares of the company's stock, valued at approximately $6,016,000. Peregrine Capital Management LLC owned approximately 0.18% of Atlantic Union Bankshares as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AUB. 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 worth $38,129,000 after purchasing an additional 757,014 shares during the period. DAVENPORT & Co LLC boosted its stake in shares of Atlantic Union Bankshares by 526.5% during the 4th quarter. DAVENPORT & Co LLC now owns 444,691 shares of the company's stock worth $16,834,000 after purchasing an additional 373,709 shares during the period. Franklin Resources Inc. boosted its stake in shares of Atlantic Union Bankshares by 20.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,621,527 shares of the company's stock worth $62,607,000 after purchasing an additional 270,470 shares during the period. State Street Corp raised its holdings in shares of Atlantic Union Bankshares by 3.0% in the third quarter. State Street Corp now owns 4,492,014 shares of the company's stock worth $169,214,000 after buying an additional 130,104 shares during the period. Finally, Systematic Financial Management LP raised its holdings in shares of Atlantic Union Bankshares by 33.7% in the third quarter. Systematic Financial Management LP now owns 463,039 shares of the company's stock worth $17,443,000 after buying an additional 116,747 shares during the period. Hedge funds and other institutional investors own 78.58% of the company's stock.

Atlantic Union Bankshares Stock Down 4.1 %

Atlantic Union Bankshares stock traded down $1.52 during mid-day trading on Friday, reaching $35.24. 899,063 shares of the company were exchanged, compared to its average volume of 908,105. The business has a fifty day moving average of $37.74 and a 200 day moving average of $38.55. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a market cap of $3.16 billion, a P/E ratio of 15.39 and a beta of 0.92. Atlantic Union Bankshares Co. has a 12-month low of $30.43 and a 12-month high of $44.54.

Atlantic Union Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a $0.34 dividend. The ex-dividend date is Friday, February 14th. This represents a $1.36 annualized dividend and a yield of 3.86%. Atlantic Union Bankshares's dividend payout ratio (DPR) is presently 59.39%.

Analysts Set New Price Targets

AUB has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods lowered their target price on shares of Atlantic Union Bankshares from $46.00 to $44.00 and set a "market perform" rating for the company in a research note on Thursday, January 30th. Hovde Group reduced their target price on shares of Atlantic Union Bankshares from $47.00 to $46.00 and set an "outperform" rating on the stock in a research report on Monday, January 27th. Finally, Piper Sandler assumed coverage on Atlantic Union Bankshares in a report on Monday, January 13th. They issued an "overweight" rating and a $51.00 target price for the company. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $44.40.

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.