Envestnet Portfolio Solutions Inc. Grows Stock Position in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Envestnet Portfolio Solutions Inc. increased its stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 14.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,366 shares of the company’s stock after purchasing an additional 1,837 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Atlantic Union Bankshares were worth $544,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. State Street Corp raised its holdings in Atlantic Union Bankshares by 3.0% during the third 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 in the last quarter. Geode Capital Management LLC grew its position in shares of Atlantic Union Bankshares by 0.7% in the 3rd 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 during the last quarter. Franklin Resources Inc. raised its stake in Atlantic Union Bankshares by 20.0% during the 3rd 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 in the last quarter. GW&K Investment Management LLC raised its stake in Atlantic Union Bankshares by 24.9% during the 4th 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 position 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 last quarter. Hedge funds and other institutional investors own 78.58% of the company’s stock.

Atlantic Union Bankshares Stock Performance

Shares of AUB stock opened at $32.42 on Wednesday. The stock’s 50-day moving average price is $35.79 and its 200 day moving average price is $37.87. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $2.91 billion, a PE ratio of 14.16 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.

Atlantic Union Bankshares Dividend Announcement

The business also recently declared 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. This represents a $1.36 annualized dividend and a dividend yield of 4.19%. The ex-dividend date was Friday, February 14th. Atlantic Union Bankshares’s dividend payout ratio (DPR) is presently 59.39%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on AUB. 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 report on Thursday, January 30th. Hovde Group cut their price target on Atlantic Union Bankshares from $46.00 to $40.00 and set an “outperform” rating on the stock in a research report on Monday, March 17th. Finally, Piper Sandler initiated coverage on Atlantic Union Bankshares in a research note on Monday, January 13th. They issued an “overweight” rating and a $51.00 price objective for the company. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $43.20.

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.