CIBC Asset Management Inc Raises Holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB)

CIBC Asset Management Inc lifted its position in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 5.2% during the 4th quarter, Holdings Channel reports. The firm owned 8,731 shares of the company’s stock after acquiring an additional 431 shares during the period. CIBC Asset Management Inc’s holdings in Atlantic Union Bankshares were worth $331,000 at the end of the most recent quarter.

Other large investors have also 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 approximately $28,000. Nomura Asset Management Co. Ltd. increased its stake in shares of Atlantic Union Bankshares by 78.8% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 930 shares of the company’s stock worth $35,000 after acquiring an additional 410 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Atlantic Union Bankshares by 27.3% in the 4th quarter. GAMMA Investing LLC now owns 1,325 shares of the company’s stock worth $50,000 after purchasing an additional 284 shares in the last quarter. Quest Partners LLC bought a new position in Atlantic Union Bankshares during the 3rd quarter valued at approximately $56,000. Finally, Blue Trust Inc. raised its stake in Atlantic Union Bankshares by 110.2% during the third quarter. Blue Trust Inc. now owns 2,089 shares of the company’s stock valued at $79,000 after buying an additional 1,095 shares during the last quarter. Institutional investors own 78.58% of the company’s stock.

Atlantic Union Bankshares Stock Down 4.1 %

AUB opened at $35.24 on Monday. 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 firm’s fifty day moving average is $37.63 and its 200 day moving average is $38.57. The stock has a market cap of $3.16 billion, a price-to-earnings ratio of 15.39 and a beta of 0.92. Atlantic Union Bankshares Co. has a fifty-two week low of $30.43 and a fifty-two week high of $44.54.

Atlantic Union Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a $0.34 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.36 annualized dividend and a yield of 3.86%. Atlantic Union Bankshares’s payout ratio is 59.39%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on AUB. Hovde Group cut their price objective on shares of Atlantic Union Bankshares from $47.00 to $46.00 and set an “outperform” rating on the stock in a research report on Monday, January 27th. Keefe, Bruyette & Woods reduced their price objective on 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. Finally, Piper Sandler started coverage on shares of Atlantic Union Bankshares in a research report on Monday, January 13th. They issued an “overweight” rating and a $51.00 price target on the stock. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $44.40.

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.