Raymond James Financial Inc. Invests $6.92 Million in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Raymond James Financial Inc. bought a new stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 182,755 shares of the company’s stock, valued at approximately $6,923,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. R Squared Ltd purchased a new stake in Atlantic Union Bankshares in the 4th quarter worth $28,000. Nomura Asset Management Co. Ltd. grew its position in shares of Atlantic Union Bankshares by 78.8% during the third quarter. Nomura Asset Management Co. Ltd. now owns 930 shares of the company’s stock valued at $35,000 after purchasing an additional 410 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Atlantic Union Bankshares by 186.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,074 shares of the company’s stock worth $41,000 after purchasing an additional 699 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Atlantic Union Bankshares by 27.3% in the fourth quarter. GAMMA Investing LLC now owns 1,325 shares of the company’s stock worth $50,000 after buying an additional 284 shares in the last quarter. Finally, Quest Partners LLC bought a new position in Atlantic Union Bankshares during the third quarter valued at approximately $56,000. Institutional investors own 78.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AUB. Hovde Group reduced their price objective on Atlantic Union Bankshares from $46.00 to $40.00 and set an “outperform” rating on the stock in a research note on Monday, March 17th. Piper Sandler began coverage on shares of 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, Keefe, Bruyette & Woods lowered 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 report on Thursday, January 30th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $43.20.

Atlantic Union Bankshares Price Performance

Shares of Atlantic Union Bankshares stock opened at $31.99 on Monday. The stock has a market cap of $2.87 billion, a price-to-earnings 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. The stock has a 50 day moving average price of $35.95 and a 200-day moving average price of $37.94. Atlantic Union Bankshares Co. has a one year low of $30.43 and a one year high of $44.54.

Atlantic Union Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date of this dividend was Friday, February 14th. Atlantic Union Bankshares’s dividend payout ratio (DPR) is 59.39%.

Atlantic Union Bankshares Company 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.