Connor Clark & Lunn Investment Management Ltd. Acquires Shares of 98,955 Atlantic Union Bankshares Co. (NASDAQ:AUB)

Connor Clark & Lunn Investment Management Ltd. bought a new position in Atlantic Union Bankshares Co. (NASDAQ:AUB) during the 4th quarter, Holdings Channel reports. The fund bought 98,955 shares of the company’s stock, valued at approximately $3,748,000.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Hovde Group lowered their target price on Atlantic Union Bankshares from $46.00 to $40.00 and set an “outperform” rating for the company in a research note on Monday. Piper Sandler initiated coverage on Atlantic Union Bankshares in a research report on Monday, January 13th. They set an “overweight” rating and a $51.00 price objective for the company. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Atlantic Union Bankshares from $46.00 to $44.00 and set a “market perform” rating on the stock 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. Based on data from MarketBeat, Atlantic Union Bankshares presently has an average rating of “Moderate Buy” and an average price target of $43.20.

Atlantic Union Bankshares Trading Up 0.8 %

Atlantic Union Bankshares stock opened at $32.63 on Tuesday. Atlantic Union Bankshares Co. has a 12 month low of $30.43 and a 12 month high of $44.54. The company has a market capitalization of $2.93 billion, a price-to-earnings ratio of 14.25 and a beta of 0.91. The business’s fifty day simple moving average is $36.25 and its two-hundred day simple moving average is $38.13. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.13.

Atlantic Union Bankshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date of this dividend was Friday, February 14th. 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.