Wells Fargo & Company MN Boosts Holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Wells Fargo & Company MN raised its holdings in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 16.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 196,027 shares of the company's stock after acquiring an additional 27,724 shares during the quarter. Wells Fargo & Company MN owned about 0.22% of Atlantic Union Bankshares worth $7,425,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. R Squared Ltd purchased a new stake in Atlantic Union Bankshares in the 4th quarter worth approximately $28,000. Smartleaf Asset Management LLC boosted its stake in Atlantic Union Bankshares by 186.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,074 shares of the company's stock valued at $41,000 after buying an additional 699 shares during the period. GAMMA Investing LLC grew its position in 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 buying an additional 284 shares in the last quarter. Venturi Wealth Management LLC bought a new position in Atlantic Union Bankshares in the 4th quarter worth about $91,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Atlantic Union Bankshares in the 3rd quarter valued at about $121,000. Hedge funds and other institutional investors own 78.58% of the company's stock.

Atlantic Union Bankshares Trading Down 2.8 %

Atlantic Union Bankshares stock traded down $0.74 during mid-day trading on Thursday, hitting $25.61. The company's stock had a trading volume of 486,532 shares, compared to its average volume of 1,433,553. The business has a 50 day moving average price of $30.63 and a 200-day moving average price of $36.14. 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 12 month low of $22.85 and a 12 month high of $44.54. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of 11.18 and a beta of 0.80.

Atlantic Union Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued 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 yield of 5.31%. Atlantic Union Bankshares's dividend payout ratio is presently 59.39%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AUB. Hovde Group decreased 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 report on Monday, March 17th. Piper Sandler started coverage on shares of Atlantic Union Bankshares in a report on Monday, January 13th. They set an "overweight" rating and a $51.00 price objective for the company. Keefe, Bruyette & Woods reduced their target price on 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. Finally, Morgan Stanley started coverage on 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. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price 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.