Wellington Management Group LLP Buys Shares of 68,099 Atlantic Union Bankshares Co. (NASDAQ:AUB)

Wellington Management Group LLP purchased a new position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 68,099 shares of the company's stock, valued at approximately $2,580,000. Wellington Management Group LLP owned about 0.08% of Atlantic Union Bankshares at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Atlantic Union Bankshares by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 10,953,700 shares of the company's stock valued at $414,926,000 after purchasing an additional 27,604 shares in the last quarter. State Street Corp boosted its position 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. Geode Capital Management LLC grew its stake in shares of Atlantic Union Bankshares by 0.7% in the third quarter. Geode Capital Management LLC now owns 2,065,862 shares of the company's stock valued at $77,836,000 after buying an additional 14,823 shares in the last quarter. Franklin Resources Inc. raised its holdings 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 valued at $62,607,000 after buying an additional 270,470 shares during the period. Finally, GW&K Investment Management LLC lifted its position in Atlantic Union Bankshares by 24.9% during the 4th quarter. GW&K Investment Management LLC now owns 1,553,719 shares of the company's stock worth $58,855,000 after acquiring an additional 309,519 shares in the last quarter. 78.58% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

Several analysts have issued reports on AUB shares. 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 objective for the company. Hovde Group dropped 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 research note on Monday, March 17th. Keefe, Bruyette & Woods decreased their price objective on shares of Atlantic Union Bankshares from $46.00 to $44.00 and set a "market perform" rating for the company in a research report on Thursday, January 30th. Finally, 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 target price for the company. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $41.33.

Atlantic Union Bankshares Stock Up 2.8 %

Shares of AUB traded up $0.67 during midday trading on Tuesday, hitting $24.77. The company had a trading volume of 2,532,460 shares, compared to its average volume of 852,623. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of 10.81 and a beta of 0.80. The company's 50 day moving average price is $32.48 and its 200 day moving average price is $36.70. 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 52 week low of $22.85 and a 52 week high of $44.54.

Atlantic Union Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 5.49%. The ex-dividend date was Friday, February 14th. Atlantic Union Bankshares's payout ratio is currently 59.39%.

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.