Ameriprise Financial Inc. Increases Stock Position in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Ameriprise Financial Inc. lifted its position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 62.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,587,890 shares of the company’s stock after purchasing an additional 990,583 shares during the period. Ameriprise Financial Inc. owned about 2.88% of Atlantic Union Bankshares worth $98,029,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. R Squared Ltd purchased a new stake in Atlantic Union Bankshares during the 4th quarter valued at approximately $28,000. Smartleaf Asset Management LLC lifted its stake in shares of Atlantic Union Bankshares by 186.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,074 shares of the company’s stock worth $41,000 after acquiring an additional 699 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Atlantic Union Bankshares by 27.3% in the fourth quarter. GAMMA Investing LLC now owns 1,325 shares of the company’s stock valued at $50,000 after acquiring an additional 284 shares in the last quarter. Venturi Wealth Management LLC acquired a new position in shares of Atlantic Union Bankshares during the fourth quarter worth about $91,000. Finally, Sterling Capital Management LLC raised its holdings 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 in the last quarter. 78.58% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Hovde Group dropped their target price on 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. Morgan Stanley assumed coverage on Atlantic Union Bankshares in a research report on Wednesday, April 9th. They issued an “equal weight” rating and a $32.00 price objective for the company. Keefe, Bruyette & Woods decreased their target price on shares of Atlantic Union Bankshares from $40.00 to $33.00 and set a “market perform” rating on the stock in a research report on Monday, April 28th. Finally, 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. Two investment 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, Atlantic Union Bankshares presently has an average rating of “Moderate Buy” and a consensus price target of $39.40.

Atlantic Union Bankshares Stock Up 2.6 %

Atlantic Union Bankshares stock opened at $29.41 on Friday. The firm has a market capitalization of $2.65 billion, a price-to-earnings ratio of 12.84 and a beta of 0.83. 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 fifty-two week low of $22.85 and a fifty-two week high of $44.54. The stock’s fifty day moving average is $28.89 and its two-hundred day moving average is $35.40.

Atlantic Union Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be issued a dividend of $0.34 per share. The ex-dividend date is Friday, May 23rd. This represents a $1.36 annualized dividend and a yield of 4.62%. Atlantic Union Bankshares’s dividend payout ratio (DPR) is currently 62.10%.

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.