Deroy & Devereaux Private Investment Counsel Inc. Sells 40,010 Shares of Atlantic Union Bankshares Co. (NASDAQ:AUB)

Deroy & Devereaux Private Investment Counsel Inc. lessened its holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 30.2% in the first quarter, HoldingsChannel reports. The fund owned 92,655 shares of the company’s stock after selling 40,010 shares during the period. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in Atlantic Union Bankshares were worth $2,885,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. SG Americas Securities LLC acquired a new position in Atlantic Union Bankshares in the 1st quarter valued at $310,000. Norges Bank bought a new position in Atlantic Union Bankshares in the 4th quarter valued at about $6,957,000. Sandy Spring Bank raised its position in shares of Atlantic Union Bankshares by 598.2% in the 4th quarter. Sandy Spring Bank now owns 38,654 shares of the company’s stock valued at $1,464,000 after buying an additional 33,118 shares in the last quarter. Deutsche Bank AG boosted its position in shares of Atlantic Union Bankshares by 50.3% during the 4th quarter. Deutsche Bank AG now owns 77,693 shares of the company’s stock worth $2,943,000 after acquiring an additional 26,000 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in Atlantic Union Bankshares by 2,412.4% during the first quarter. GAMMA Investing LLC now owns 33,289 shares of the company’s stock worth $1,069,000 after purchasing an additional 31,964 shares during the last quarter. 78.58% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on AUB. Morgan Stanley began coverage on Atlantic Union Bankshares in a research report on Wednesday, April 9th. They issued an “equal weight” rating and a $32.00 target price on the stock. Raymond James Financial raised Atlantic Union Bankshares from an “outperform” rating to a “strong-buy” rating and upped their price objective for the company from $37.00 to $41.00 in a research note on Tuesday, June 10th. Keefe, Bruyette & Woods decreased their price target on shares of Atlantic Union Bankshares from $40.00 to $33.00 and set a “market perform” rating for the company in a research report on Monday, April 28th. Hovde Group reduced their price target on 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. Finally, Jefferies Financial Group set a $37.00 price target on shares of Atlantic Union Bankshares and gave the stock a “buy” rating in a report on Wednesday, May 21st. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $39.00.

Atlantic Union Bankshares Stock Up 1.0%

Shares of NASDAQ:AUB opened at $33.52 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.91 and a current ratio of 0.91. Atlantic Union Bankshares Co. has a 52-week low of $22.85 and a 52-week high of $44.54. The business’s 50 day simple moving average is $30.20 and its two-hundred day simple moving average is $32.58. The firm has a market cap of $4.77 billion, a P/E ratio of 14.64 and a beta of 0.86.

Atlantic Union Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 23rd were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date of this dividend was Friday, May 23rd. Atlantic Union Bankshares’s dividend payout ratio is currently 62.10%.

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.