Banque Pictet & Cie SA Invests $448,000 in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Banque Pictet & Cie SA bought a new position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 14,391 shares of the company’s stock, valued at approximately $448,000.

Several other large investors have also recently bought and sold shares of the stock. North Reef Capital Management LP acquired a new stake in Atlantic Union Bankshares in the 4th quarter worth $78,942,000. American Century Companies Inc. grew its position in Atlantic Union Bankshares by 3,195.3% during the fourth quarter. American Century Companies Inc. now owns 1,056,073 shares of the company’s stock worth $40,004,000 after buying an additional 1,024,025 shares in the last quarter. Ameriprise Financial Inc. increased its stake in Atlantic Union Bankshares by 62.0% during the fourth quarter. Ameriprise Financial Inc. now owns 2,587,890 shares of the company’s stock valued at $98,029,000 after acquiring an additional 990,583 shares during the period. Schroder Investment Management Group acquired a new position in Atlantic Union Bankshares in the 4th quarter valued at approximately $25,490,000. Finally, Soros Fund Management LLC acquired a new position in Atlantic Union Bankshares in the 4th quarter valued at approximately $21,813,000. 78.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Atlantic Union Bankshares Stock Performance

Shares of NASDAQ:AUB opened at $33.71 on Friday. 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 business’s fifty day moving average price is $30.77 and its two-hundred day moving average price is $32.42. Atlantic Union Bankshares Co. has a fifty-two week low of $22.85 and a fifty-two week high of $44.54. The stock has a market capitalization of $4.80 billion, a price-to-earnings ratio of 14.72 and a beta of 0.86.

Atlantic Union Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 23rd were paid a $0.34 dividend. The ex-dividend date was Friday, May 23rd. This represents a $1.36 annualized dividend and a dividend yield of 4.03%. Atlantic Union Bankshares’s dividend payout ratio is presently 62.10%.

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.