1,895 Shares in Atlantic Union Bankshares Co. (NASDAQ:AUB) Purchased by Investment Management Corp VA ADV

Investment Management Corp VA ADV acquired a new position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,895 shares of the company’s stock, valued at approximately $72,000.

Other hedge funds have also recently bought and sold shares of the company. R Squared Ltd bought a new stake in shares of Atlantic Union Bankshares during the 4th quarter worth approximately $28,000. Smartleaf Asset Management LLC increased its stake in Atlantic Union Bankshares by 186.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,074 shares of the company’s stock valued at $41,000 after acquiring an additional 699 shares during the last quarter. Venturi Wealth Management LLC bought a new stake in Atlantic Union Bankshares during the fourth quarter worth $91,000. Sterling Capital Management LLC lifted its stake in Atlantic Union Bankshares by 838.1% during the fourth quarter. Sterling Capital Management LLC now owns 2,880 shares of the company’s stock worth $109,000 after purchasing an additional 2,573 shares during the last quarter. Finally, KBC Group NV lifted its stake in Atlantic Union Bankshares by 55.9% during the fourth quarter. KBC Group NV now owns 4,475 shares of the company’s stock worth $170,000 after purchasing an additional 1,605 shares during the last quarter. 78.58% of the stock is owned by institutional investors.

Atlantic Union Bankshares Price Performance

Shares of AUB opened at $29.32 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.13. The stock has a market cap of $4.18 billion, a PE ratio of 12.80 and a beta of 0.83. Atlantic Union Bankshares Co. has a 12-month low of $22.85 and a 12-month high of $44.54. The business has a 50-day simple moving average of $28.42 and a two-hundred day simple moving average of $34.93.

Atlantic Union Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 4.64%. The ex-dividend date of this dividend is Friday, May 23rd. Atlantic Union Bankshares’s dividend payout ratio is currently 62.10%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on AUB shares. Morgan Stanley initiated coverage on Atlantic Union Bankshares in a research note on Wednesday, April 9th. They issued an “equal weight” rating and a $32.00 price objective on the stock. Keefe, Bruyette & Woods reduced their price target on shares of Atlantic Union Bankshares from $40.00 to $33.00 and set a “market perform” rating on the stock in a research note on Monday, April 28th. Jefferies Financial Group set a $37.00 price objective on shares of Atlantic Union Bankshares and gave the stock a “buy” rating in a research report on Wednesday. Finally, Hovde Group dropped their price objective on shares of Atlantic Union Bankshares from $46.00 to $40.00 and set an “outperform” rating for the company in a research note on Monday, March 17th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $39.00.

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.