Corebridge Financial Inc. Lowers Position in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Corebridge Financial Inc. decreased its stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 7.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 47,630 shares of the company’s stock after selling 3,720 shares during the period. Corebridge Financial Inc.’s holdings in Atlantic Union Bankshares were worth $1,804,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. R Squared Ltd bought a new position in shares of Atlantic Union Bankshares during the 4th quarter worth approximately $28,000. Nomura Asset Management Co. Ltd. increased 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 acquiring an additional 410 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in Atlantic Union Bankshares by 186.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,074 shares of the company’s stock worth $41,000 after acquiring an additional 699 shares during the period. GAMMA Investing LLC boosted its position in 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 position in Atlantic Union Bankshares in the 4th quarter valued at $91,000. Institutional investors own 78.58% of the company’s stock.

Wall Street Analysts Forecast Growth

AUB has been the subject of several research reports. Hovde Group reduced 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 research report on Monday, March 17th. Keefe, Bruyette & Woods lowered 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 report on Thursday, January 30th. Finally, Piper Sandler began coverage on Atlantic Union Bankshares in a report on Monday, January 13th. They set an “overweight” rating and a $51.00 price objective for the company. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Atlantic Union Bankshares currently has a consensus rating of “Moderate Buy” and an average target price of $43.20.

Atlantic Union Bankshares Price Performance

AUB opened at $30.68 on Thursday. The company has a market capitalization of $2.77 billion, a price-to-earnings ratio of 13.40 and a beta of 0.91. 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 firm has a 50-day moving average price of $34.96 and a 200-day moving average price of $37.61. Atlantic Union Bankshares Co. has a twelve month low of $29.87 and a twelve month high of $44.54.

Atlantic Union Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued 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 yield of 4.43%. Atlantic Union Bankshares’s payout ratio 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.