Zurcher Kantonalbank Zurich Cantonalbank Purchases 5,332 Shares of Atlantic Union Bankshares Co. (NASDAQ:AUB)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 28.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,057 shares of the company’s stock after acquiring an additional 5,332 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Atlantic Union Bankshares were worth $911,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its stake 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 purchasing an additional 757,014 shares during the last quarter. DAVENPORT & Co LLC grew its stake 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 purchasing an additional 373,709 shares during the last quarter. GW&K Investment Management LLC grew its stake 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 purchasing an additional 309,519 shares during the last quarter. Franklin Resources Inc. grew its stake 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 purchasing an additional 270,470 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Atlantic Union Bankshares in the fourth quarter valued at about $6,923,000. 78.58% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AUB has been the topic of several analyst reports. Keefe, Bruyette & Woods cut their target price on 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. Piper Sandler initiated coverage on 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. Finally, Hovde Group dropped their price target on Atlantic Union Bankshares from $46.00 to $40.00 and set an “outperform” rating on the stock in a research note on Monday. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.20.

Atlantic Union Bankshares Price Performance

Shares of NASDAQ AUB opened at $32.31 on Friday. The business’s 50 day moving average price is $36.01 and its 200 day moving average price is $38.01. The firm has a market cap of $2.90 billion, a P/E ratio of 14.11 and a beta of 0.91. Atlantic Union Bankshares Co. has a 52 week low of $30.43 and a 52 week 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.

Atlantic Union Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a $0.34 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.36 dividend on an annualized basis and a yield of 4.21%. Atlantic Union Bankshares’s dividend payout ratio is currently 59.39%.

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.