KLP Kapitalforvaltning AS Buys New Shares in Atlantic Union Bankshares Co. (NASDAQ:AUB)

KLP Kapitalforvaltning AS purchased a new position in Atlantic Union Bankshares Co. (NASDAQ:AUB) in the fourth quarter, Holdings Channel.com reports. The firm purchased 17,950 shares of the company’s stock, valued at approximately $680,000.

A number of other institutional investors have also bought and sold shares of AUB. R Squared Ltd purchased a new position in Atlantic Union Bankshares during the fourth quarter valued at $28,000. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Atlantic Union Bankshares by 78.8% during the 3rd 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 during the last quarter. Smartleaf Asset Management LLC grew its position in shares of Atlantic Union Bankshares by 186.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,074 shares of the company’s stock valued at $41,000 after purchasing an additional 699 shares in the last quarter. GAMMA Investing LLC increased its holdings 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 purchasing an additional 284 shares during the last quarter. Finally, Venturi Wealth Management LLC bought a new stake in shares of Atlantic Union Bankshares in the fourth quarter worth about $91,000. Hedge funds and other institutional investors own 78.58% of the company’s stock.

Atlantic Union Bankshares Price Performance

AUB stock opened at $30.26 on Wednesday. The stock has a market cap of $2.73 billion, a PE ratio of 13.22 and a beta of 0.91. Atlantic Union Bankshares Co. has a 12 month low of $29.89 and a 12 month high of $44.54. The company has a 50-day moving average price of $35.10 and a 200 day moving average price of $37.65. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.13.

Atlantic Union Bankshares Dividend Announcement

The firm also recently announced 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 of this dividend was Friday, February 14th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.49%. Atlantic Union Bankshares’s dividend payout ratio is 59.39%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Piper Sandler initiated coverage on Atlantic Union Bankshares in a report on Monday, January 13th. They set an “overweight” rating and a $51.00 price target for the company. Hovde Group cut their target price 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. Finally, Keefe, Bruyette & Woods decreased their price target 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. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $43.20.

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.