Atlantic Union Bankshares Co. (NASDAQ:AUB) Stock Position Decreased by Geode Capital Management LLC

Geode Capital Management LLC cut its stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 0.5% during the fourth quarter, Holdings Channel reports. The firm owned 2,055,512 shares of the company’s stock after selling 10,350 shares during the quarter. Geode Capital Management LLC’s holdings in Atlantic Union Bankshares were worth $77,881,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. R Squared Ltd purchased a new stake in shares of Atlantic Union Bankshares in the 4th quarter valued at approximately $28,000. Nomura Asset Management Co. Ltd. boosted its position in shares of Atlantic Union Bankshares by 78.8% in the third quarter. Nomura Asset Management Co. Ltd. now owns 930 shares of the company’s stock worth $35,000 after buying an additional 410 shares during the period. Smartleaf Asset Management LLC boosted its position in shares of Atlantic Union Bankshares by 186.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,074 shares of the company’s stock worth $41,000 after buying an additional 699 shares during the period. GAMMA Investing LLC raised its position in Atlantic Union Bankshares by 27.3% during the fourth quarter. GAMMA Investing LLC now owns 1,325 shares of the company’s stock valued at $50,000 after buying an additional 284 shares during the period. Finally, Venturi Wealth Management LLC acquired a new position in Atlantic Union Bankshares during the fourth quarter valued at $91,000. 78.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Morgan Stanley assumed coverage on Atlantic Union Bankshares in a research note on Wednesday. They set an “equal weight” rating and a $32.00 target price on the stock. Piper Sandler initiated coverage on shares of Atlantic Union Bankshares in a research note on Monday, January 13th. They issued an “overweight” rating and a $51.00 price objective on the stock. Keefe, Bruyette & Woods decreased their target price on shares of Atlantic Union Bankshares from $46.00 to $44.00 and set a “market perform” rating for the company in a research note on Thursday, January 30th. Finally, Hovde Group cut their price objective on Atlantic Union Bankshares from $46.00 to $40.00 and set an “outperform” rating for the company in a report on Monday, March 17th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $41.33.

Atlantic Union Bankshares Stock Performance

Shares of AUB opened at $23.84 on Friday. The firm has a market cap of $2.15 billion, a price-to-earnings ratio of 10.41 and a beta of 0.80. The company’s fifty day moving average is $32.76 and its 200-day moving average is $36.79. 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 Co. has a 12 month low of $22.85 and a 12 month high of $44.54.

Atlantic Union Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a dividend of $0.34 per share. The ex-dividend date was Friday, February 14th. This represents a $1.36 annualized dividend and a yield of 5.70%. Atlantic Union Bankshares’s dividend payout ratio (DPR) is currently 59.39%.

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.