Raymond James Financial Inc. Invests $6.92 Million in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Raymond James Financial Inc. purchased a new stake in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 182,755 shares of the company's stock, valued at approximately $6,923,000. Raymond James Financial Inc. owned approximately 0.20% of Atlantic Union Bankshares as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. MML Investors Services LLC boosted its holdings in shares of Atlantic Union Bankshares by 11.0% in the 3rd quarter. MML Investors Services LLC now owns 8,797 shares of the company's stock valued at $331,000 after buying an additional 869 shares in the last quarter. Barclays PLC lifted its position in Atlantic Union Bankshares by 132.3% in the third quarter. Barclays PLC now owns 186,876 shares of the company's stock valued at $7,039,000 after acquiring an additional 106,415 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Atlantic Union Bankshares in the third quarter valued at $121,000. Franklin Resources Inc. grew its holdings in shares of Atlantic Union Bankshares by 20.0% during the third 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 last quarter. Finally, GAMMA Investing LLC increased its position in shares of Atlantic Union Bankshares by 27.3% during the fourth quarter. GAMMA Investing LLC now owns 1,325 shares of the company's stock worth $50,000 after purchasing an additional 284 shares in the last quarter. 78.58% of the stock is currently owned by hedge funds and other institutional investors.

Atlantic Union Bankshares Stock Performance

NASDAQ:AUB opened at $26.30 on Thursday. The firm has a market cap of $2.37 billion, a price-to-earnings ratio of 11.48 and a beta of 0.80. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.91 and a quick ratio of 0.91. Atlantic Union Bankshares Co. has a 1-year low of $22.85 and a 1-year high of $44.54. The firm's fifty day moving average price is $30.63 and its 200 day moving average price is $36.14.

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 paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 5.17%. Atlantic Union Bankshares's dividend payout ratio (DPR) is 59.39%.

Wall Street Analysts Forecast Growth

AUB has been the topic of a number of research reports. Hovde Group dropped their price target on 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. Piper Sandler initiated coverage on shares of Atlantic Union Bankshares in a report on Monday, January 13th. They issued an "overweight" rating and a $51.00 target price on the stock. Morgan Stanley began coverage on shares of Atlantic Union Bankshares in a research note on Wednesday, April 9th. They set an "equal weight" rating and a $32.00 price target for the company. Finally, Keefe, Bruyette & Woods dropped 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 note on Thursday, January 30th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $41.33.

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.

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