Atlantic Union Bankshares Co. (NASDAQ:AUB) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC grew its stake in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 275.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,031,898 shares of the company’s stock after acquiring an additional 757,014 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Atlantic Union Bankshares were worth $38,129,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in AUB. Natixis Advisors LLC lifted its stake in Atlantic Union Bankshares by 24.2% during the third quarter. Natixis Advisors LLC now owns 60,782 shares of the company’s stock worth $2,290,000 after purchasing an additional 11,832 shares in the last quarter. Wesbanco Bank Inc. raised its holdings in shares of Atlantic Union Bankshares by 37.3% in the 4th quarter. Wesbanco Bank Inc. now owns 62,700 shares of the company’s stock valued at $2,375,000 after buying an additional 17,035 shares during the period. Stifel Financial Corp lifted its stake in Atlantic Union Bankshares by 1.3% during the 3rd quarter. Stifel Financial Corp now owns 32,485 shares of the company’s stock worth $1,224,000 after acquiring an additional 428 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Atlantic Union Bankshares during the 3rd quarter valued at about $591,000. Finally, BNP Paribas Financial Markets grew its position in Atlantic Union Bankshares by 95.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 35,346 shares of the company’s stock valued at $1,331,000 after acquiring an additional 17,265 shares in the last quarter. 78.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AUB has been the topic of several research reports. Piper Sandler started coverage on shares of Atlantic Union Bankshares in a research report on Monday, January 13th. They set an “overweight” rating and a $51.00 price target on the stock. Hovde Group reduced their target price on shares of Atlantic Union Bankshares from $47.00 to $46.00 and set an “outperform” rating on the stock in a report on Monday, January 27th. Finally, Keefe, Bruyette & Woods dropped 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 note on Thursday, January 30th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Atlantic Union Bankshares presently has an average rating of “Moderate Buy” and a consensus price target of $44.40.

Atlantic Union Bankshares Stock Down 1.4 %

AUB stock opened at $37.44 on Friday. The company’s 50 day moving average price is $38.09 and its 200 day moving average price is $38.62. The firm has a market capitalization of $3.36 billion, a price-to-earnings ratio of 16.35 and a beta of 0.92. Atlantic Union Bankshares Co. has a fifty-two week low of $30.43 and a fifty-two week high of $44.54. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.63%. Atlantic Union Bankshares’s payout ratio is 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.