Atlantic Union Bankshares Co. (NASDAQ:AUB) Shares Sold by Legal & General Group Plc

Legal & General Group Plc trimmed its position in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 3.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 249,156 shares of the company’s stock after selling 8,189 shares during the quarter. Legal & General Group Plc’s holdings in Atlantic Union Bankshares were worth $9,438,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in AUB. Norges Bank acquired a new stake in shares of Atlantic Union Bankshares during the fourth quarter worth $6,957,000. Sandy Spring Bank lifted its holdings in Atlantic Union Bankshares by 598.2% in the fourth quarter. Sandy Spring Bank now owns 38,654 shares of the company’s stock worth $1,464,000 after acquiring an additional 33,118 shares during the last quarter. Wesbanco Bank Inc. boosted its stake in Atlantic Union Bankshares by 37.3% in the fourth quarter. Wesbanco Bank Inc. now owns 62,700 shares of the company’s stock valued at $2,375,000 after acquiring an additional 17,035 shares during the period. Stifel Financial Corp grew its holdings in shares of Atlantic Union Bankshares by 1.3% during the third quarter. Stifel Financial Corp now owns 32,485 shares of the company’s stock valued at $1,224,000 after purchasing an additional 428 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Atlantic Union Bankshares during the 4th quarter worth approximately $6,923,000. 78.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AUB. Morgan Stanley assumed coverage on Atlantic Union Bankshares in a research note on Wednesday, April 9th. They set an “equal weight” rating and a $32.00 price objective for the company. Keefe, Bruyette & Woods dropped their price objective on shares of Atlantic Union Bankshares from $46.00 to $44.00 and set a “market perform” rating on the stock in a report on Thursday, January 30th. Piper Sandler started coverage on shares of Atlantic Union Bankshares in a research note on Monday, January 13th. They set an “overweight” rating and a $51.00 target price for the company. Finally, Hovde Group dropped their price target 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 and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $41.33.

Atlantic Union Bankshares Stock Performance

Shares of AUB opened at $24.65 on Friday. Atlantic Union Bankshares Co. has a 52-week low of $22.85 and a 52-week high of $44.54. The firm has a market capitalization of $2.22 billion, a PE ratio of 10.76 and a beta of 0.80. The firm has a 50-day moving average price of $31.65 and a 200 day moving average price of $36.44. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.13.

Atlantic Union Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid 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 dividend yield of 5.52%. Atlantic Union Bankshares’s dividend payout ratio is presently 59.39%.

Atlantic Union Bankshares Company 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.