Systematic Financial Management LP Buys 61,426 Shares of Atlantic Union Bankshares Co. (NASDAQ:AUB)

Systematic Financial Management LP grew its stake in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 13.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 524,465 shares of the company’s stock after acquiring an additional 61,426 shares during the period. Systematic Financial Management LP’s holdings in Atlantic Union Bankshares were worth $19,867,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of AUB. North Reef Capital Management LP bought a new stake in Atlantic Union Bankshares during the 4th quarter worth approximately $78,942,000. American Century Companies Inc. increased its stake in Atlantic Union Bankshares by 3,195.3% during the 4th quarter. American Century Companies Inc. now owns 1,056,073 shares of the company’s stock worth $40,004,000 after purchasing 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 4th quarter. Ameriprise Financial Inc. now owns 2,587,890 shares of the company’s stock worth $98,029,000 after purchasing an additional 990,583 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in Atlantic Union Bankshares by 275.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,031,898 shares of the company’s stock worth $38,129,000 after acquiring an additional 757,014 shares during the last quarter. Finally, Schroder Investment Management Group acquired a new position in Atlantic Union Bankshares during the 4th quarter worth approximately $25,490,000. 78.58% of the stock is owned by institutional investors.

Atlantic Union Bankshares Stock Down 0.5%

Shares of NASDAQ AUB opened at $30.97 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 stock has a market capitalization of $2.79 billion, a P/E ratio of 13.52 and a beta of 0.83. The stock’s fifty day moving average is $28.60 and its 200 day moving average is $35.14.

Atlantic Union Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.39%. The ex-dividend date of this dividend is Friday, May 23rd. Atlantic Union Bankshares’s payout ratio is currently 62.10%.

Analyst Ratings Changes

AUB has been the subject of a number of recent research reports. Keefe, Bruyette & Woods reduced their price target on 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 for the company in a research report on Monday, March 17th. Finally, Morgan Stanley initiated coverage on Atlantic Union Bankshares in a research report on Wednesday, April 9th. They set an “equal weight” rating and a $32.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $39.40.

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.