Atlantic Union Bankshares Co. (NASDAQ:AUB) Shares Acquired by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. increased its position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 14.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,366 shares of the company’s stock after purchasing an additional 1,837 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Atlantic Union Bankshares were worth $544,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp increased its position in Atlantic Union Bankshares by 3.0% during the 3rd quarter. State Street Corp now owns 4,492,014 shares of the company’s stock worth $169,214,000 after purchasing an additional 130,104 shares during the period. Geode Capital Management LLC boosted its stake in shares of Atlantic Union Bankshares by 0.7% in the third quarter. Geode Capital Management LLC now owns 2,065,862 shares of the company’s stock valued at $77,836,000 after buying an additional 14,823 shares in the last quarter. Franklin Resources Inc. grew its holdings in Atlantic Union Bankshares by 20.0% during the third quarter. Franklin Resources Inc. now owns 1,621,527 shares of the company’s stock worth $62,607,000 after acquiring an additional 270,470 shares during the period. GW&K Investment Management LLC raised its position 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 worth $58,855,000 after acquiring an additional 309,519 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Atlantic Union Bankshares by 0.3% in the fourth quarter. Bank of New York Mellon Corp now owns 1,076,953 shares of the company’s stock valued at $40,795,000 after acquiring an additional 2,861 shares during the period. Institutional investors and hedge funds own 78.58% of the company’s stock.

Atlantic Union Bankshares Stock Performance

NASDAQ:AUB opened at $32.42 on Wednesday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $2.91 billion, a P/E ratio of 14.16 and a beta of 0.91. The firm has a 50-day moving average price of $35.79 and a two-hundred day moving average price of $37.87. Atlantic Union Bankshares Co. has a twelve month low of $30.43 and a twelve month high of $44.54.

Atlantic Union Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid 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 4.19%. Atlantic Union Bankshares’s dividend payout ratio (DPR) is 59.39%.

Wall Street Analyst Weigh In

AUB has been the subject of a number of research analyst reports. Hovde Group cut their price target on shares of Atlantic Union Bankshares from $46.00 to $40.00 and set an “outperform” rating for the company in a report on Monday, March 17th. 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. Finally, Keefe, Bruyette & Woods decreased their price target 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. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average 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.