Atlantic Union Bankshares Co. (NASDAQ:AUB) Shares Sold by Cerity Partners LLC

Cerity Partners LLC lowered its stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 8.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,533 shares of the company’s stock after selling 4,816 shares during the quarter. Cerity Partners LLC’s holdings in Atlantic Union Bankshares were worth $1,904,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in Atlantic Union Bankshares by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 10,953,700 shares of the company’s stock worth $414,926,000 after purchasing an additional 27,604 shares during the period. Geode Capital Management LLC increased its holdings in shares of Atlantic Union Bankshares by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,065,862 shares of the company’s stock worth $77,836,000 after buying an additional 14,823 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Atlantic Union Bankshares by 2.8% in the 4th quarter. Franklin Resources Inc. now owns 1,667,196 shares of the company’s stock worth $63,153,000 after buying an additional 45,669 shares during the period. GW&K Investment Management LLC grew its position in Atlantic Union Bankshares by 24.9% during the fourth quarter. GW&K Investment Management LLC now owns 1,553,719 shares of the company’s stock valued at $58,855,000 after acquiring an additional 309,519 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of Atlantic Union Bankshares by 0.3% in the 4th quarter. Bank of New York Mellon Corp now owns 1,076,953 shares of the company’s stock worth $40,795,000 after purchasing an additional 2,861 shares during the period. 78.58% of the stock is currently owned by hedge funds and other institutional investors.

Atlantic Union Bankshares Stock Performance

Atlantic Union Bankshares stock opened at $24.80 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.91 and a quick ratio of 0.91. Atlantic Union Bankshares Co. has a 12 month low of $22.85 and a 12 month high of $44.54. The company has a fifty day moving average price of $31.92 and a two-hundred day moving average price of $36.53. The company has a market cap of $2.24 billion, a PE ratio of 10.83 and a beta of 0.80.

Atlantic Union Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a $0.34 dividend. 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 5.48%. Atlantic Union Bankshares’s payout ratio is currently 59.39%.

Analyst Upgrades and Downgrades

AUB has been the topic of several research reports. 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 price target on the stock. Keefe, Bruyette & Woods decreased their target price 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. Morgan Stanley started coverage on Atlantic Union Bankshares in a report on Wednesday, April 9th. They set an “equal weight” rating and a $32.00 target price on the stock. Finally, Hovde Group decreased their price target on Atlantic Union Bankshares from $46.00 to $40.00 and set an “outperform” rating for the company in a report on Monday, March 17th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $41.33.

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.