Commonwealth of Pennsylvania Public School Empls Retrmt SYS Cuts Stake in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS decreased its position in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 31.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,090 shares of the company’s stock after selling 6,101 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Atlantic Union Bankshares were worth $496,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in AUB. Sandy Spring Bank boosted its holdings in Atlantic Union Bankshares by 598.2% in the 4th quarter. Sandy Spring Bank now owns 38,654 shares of the company’s stock valued at $1,464,000 after purchasing an additional 33,118 shares in the last quarter. Xponance Inc. lifted its holdings in shares of Atlantic Union Bankshares by 9.5% in the 4th quarter. Xponance Inc. now owns 6,424 shares of the company’s stock valued at $243,000 after buying an additional 556 shares during the period. Intech Investment Management LLC boosted its stake in shares of Atlantic Union Bankshares by 169.8% in the fourth quarter. Intech Investment Management LLC now owns 37,671 shares of the company’s stock valued at $1,427,000 after buying an additional 23,711 shares in the last quarter. Kennondale Capital Management LLC acquired a new position in Atlantic Union Bankshares during the fourth quarter worth $941,000. Finally, William Blair Investment Management LLC raised its position in Atlantic Union Bankshares by 24.0% in the fourth quarter. William Blair Investment Management LLC now owns 959,462 shares of the company’s stock worth $36,344,000 after acquiring an additional 185,662 shares in the last quarter. 78.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AUB has been the topic of a number of recent analyst reports. Piper Sandler assumed coverage on shares of Atlantic Union Bankshares in a research note on Monday, January 13th. They set an “overweight” rating and a $51.00 price target on the stock. 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 report on Monday, March 17th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Atlantic Union Bankshares from $46.00 to $44.00 and set a “market perform” rating for the company in a research report on Thursday, January 30th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Atlantic Union Bankshares presently has an average rating of “Moderate Buy” and a consensus price target of $43.20.

Atlantic Union Bankshares Price Performance

Atlantic Union Bankshares stock opened at $31.63 on Friday. The firm has a market capitalization of $2.84 billion, a PE ratio of 13.81 and a beta of 0.91. Atlantic Union Bankshares Co. has a 52 week low of $30.43 and a 52 week high of $44.54. The firm’s 50-day simple moving average is $35.54 and its 200 day simple moving average is $37.79. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a $0.34 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.36 annualized dividend and a dividend yield of 4.30%. Atlantic Union Bankshares’s dividend payout ratio is presently 59.39%.

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.