William Blair Investment Management LLC Buys 185,662 Shares of Atlantic Union Bankshares Co. (NASDAQ:AUB)

William Blair Investment Management LLC increased its stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 24.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 959,462 shares of the company’s stock after purchasing an additional 185,662 shares during the quarter. William Blair Investment Management LLC’s holdings in Atlantic Union Bankshares were worth $36,344,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Cibc World Markets Corp bought a new stake in shares of Atlantic Union Bankshares during the fourth quarter valued at approximately $317,000. Envestnet Portfolio Solutions Inc. boosted its stake in Atlantic Union Bankshares by 14.7% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 14,366 shares of the company’s stock valued at $544,000 after acquiring an additional 1,837 shares during the last quarter. Natixis Advisors LLC boosted its stake in Atlantic Union Bankshares by 23.4% in the fourth quarter. Natixis Advisors LLC now owns 74,976 shares of the company’s stock valued at $2,840,000 after acquiring an additional 14,194 shares during the last quarter. Burkehill Global Management LP bought a new position in Atlantic Union Bankshares in the fourth quarter valued at approximately $18,940,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Atlantic Union Bankshares in the fourth quarter valued at approximately $3,748,000. 78.58% of the stock is owned by institutional investors.

Atlantic Union Bankshares Trading Up 0.8 %

Shares of NASDAQ AUB opened at $32.63 on Tuesday. Atlantic Union Bankshares Co. has a twelve month low of $30.43 and a twelve month high of $44.54. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.13. The company’s fifty day moving average is $36.25 and its 200-day moving average is $38.13. The stock has a market cap of $2.93 billion, a price-to-earnings ratio of 14.25 and a beta of 0.91.

Atlantic Union Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors 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 dividend on an annualized basis and a dividend yield of 4.17%. Atlantic Union Bankshares’s payout ratio is 59.39%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on AUB shares. Keefe, Bruyette & Woods reduced their price objective on shares of Atlantic Union Bankshares from $46.00 to $44.00 and set a “market perform” rating on the stock in a research note on Thursday, January 30th. Hovde Group reduced their price objective on shares of Atlantic Union Bankshares from $46.00 to $40.00 and set an “outperform” rating on the stock in a research note on Monday. Finally, Piper Sandler began 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. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $43.20.

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.