Russell Investments Group Ltd. Lowers Holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Russell Investments Group Ltd. lessened its stake in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 50.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 65,620 shares of the company's stock after selling 67,213 shares during the period. Russell Investments Group Ltd. owned about 0.07% of Atlantic Union Bankshares worth $2,486,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in AUB. American Century Companies Inc. grew its stake in Atlantic Union Bankshares by 3,195.3% in the 4th quarter. American Century Companies Inc. now owns 1,056,073 shares of the company's stock valued at $40,004,000 after purchasing an additional 1,024,025 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Atlantic Union Bankshares by 275.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,031,898 shares of the company's stock valued at $38,129,000 after purchasing an additional 757,014 shares in the last quarter. Schroder Investment Management Group bought a new position in Atlantic Union Bankshares in the 4th quarter worth about $25,490,000. Neumeier Poma Investment Counsel LLC purchased a new position in Atlantic Union Bankshares during the fourth quarter valued at approximately $19,907,000. Finally, Burkehill Global Management LP purchased a new stake in Atlantic Union Bankshares in the 4th quarter worth approximately $18,940,000. Institutional investors and hedge funds own 78.58% of the company's stock.

Atlantic Union Bankshares Stock Up 4.6 %

NASDAQ AUB traded up $1.17 during trading hours on Wednesday, reaching $26.68. 786,143 shares of the company's stock traded hands, compared to its average volume of 866,822. Atlantic Union Bankshares Co. has a 52-week low of $22.85 and a 52-week high of $44.54. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market cap of $2.41 billion, a PE ratio of 11.65 and a beta of 0.80. The firm has a 50-day simple moving average of $30.85 and a 200 day simple moving average of $36.20.

Atlantic Union Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 5.10%. The ex-dividend date was Friday, February 14th. Atlantic Union Bankshares's dividend payout ratio is presently 59.39%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on AUB shares. Morgan Stanley started coverage on shares of Atlantic Union Bankshares in a report on Wednesday, April 9th. They issued an "equal weight" rating and a $32.00 price target on the stock. Piper Sandler started coverage on Atlantic Union Bankshares in a research report on Monday, January 13th. They set an "overweight" rating and a $51.00 price target on the stock. Hovde Group cut their price target on shares of Atlantic Union Bankshares from $46.00 to $40.00 and set an "outperform" rating on the stock in a report on Monday, March 17th. Finally, Keefe, Bruyette & Woods cut their price objective on 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. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $41.33.

Atlantic Union Bankshares 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.