Atlantic Union Bankshares Co. (NASDAQ:AUB) Shares Purchased by Intech Investment Management LLC

Intech Investment Management LLC boosted its position in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 169.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,671 shares of the company’s stock after purchasing an additional 23,711 shares during the period. Intech Investment Management LLC’s holdings in Atlantic Union Bankshares were worth $1,427,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in AUB. Allspring Global Investments Holdings LLC increased its holdings in Atlantic Union Bankshares by 275.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,031,898 shares of the company’s stock valued at $38,129,000 after buying an additional 757,014 shares in the last quarter. Burkehill Global Management LP purchased a new position in Atlantic Union Bankshares in the fourth quarter valued at about $18,940,000. DAVENPORT & Co LLC increased its holdings in Atlantic Union Bankshares by 526.5% in the fourth quarter. DAVENPORT & Co LLC now owns 444,691 shares of the company’s stock valued at $16,834,000 after buying an additional 373,709 shares in the last quarter. GW&K Investment Management LLC increased its holdings in Atlantic Union Bankshares by 24.9% in the fourth quarter. GW&K Investment Management LLC now owns 1,553,719 shares of the company’s stock valued at $58,855,000 after buying an additional 309,519 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in Atlantic Union Bankshares by 20.0% in the third quarter. Franklin Resources Inc. now owns 1,621,527 shares of the company’s stock valued at $62,607,000 after buying an additional 270,470 shares in the last quarter. Institutional investors and hedge funds own 78.58% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on AUB shares. Piper Sandler initiated coverage on shares of Atlantic Union Bankshares in a report on Monday, January 13th. They issued an “overweight” rating and a $51.00 target price for the company. Hovde Group dropped their price objective on shares of Atlantic Union Bankshares from $46.00 to $40.00 and set an “outperform” rating for the company in a research note on Monday, March 17th. Finally, Keefe, Bruyette & Woods dropped their price objective 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 issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $43.20.

Atlantic Union Bankshares Stock Down 0.9 %

AUB stock opened at $31.99 on Friday. The stock has a market capitalization of $2.87 billion, a P/E ratio of 13.97 and a beta of 0.91. 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 one year low of $30.43 and a one year high of $44.54. The company has a 50 day moving average price of $35.95 and a two-hundred day moving average price of $37.95.

Atlantic Union Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a $0.34 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.36 annualized dividend and a yield of 4.25%. Atlantic Union Bankshares’s payout ratio is currently 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.