Wells Fargo & Company MN Grows Stock Position in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Wells Fargo & Company MN increased its position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 16.5% in the 4th quarter, Holdings Channel reports. The firm owned 196,027 shares of the company’s stock after purchasing an additional 27,724 shares during the period. Wells Fargo & Company MN’s holdings in Atlantic Union Bankshares were worth $7,425,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Atlantic Union Bankshares during the fourth quarter worth $6,957,000. Sandy Spring Bank lifted its position in Atlantic Union Bankshares by 598.2% in the fourth quarter. Sandy Spring Bank now owns 38,654 shares of the company’s stock valued at $1,464,000 after buying an additional 33,118 shares during the last quarter. Wesbanco Bank Inc. boosted its stake in Atlantic Union Bankshares by 37.3% during the fourth quarter. Wesbanco Bank Inc. now owns 62,700 shares of the company’s stock worth $2,375,000 after buying an additional 17,035 shares during the period. Stifel Financial Corp increased its position in shares of Atlantic Union Bankshares by 1.3% during the third quarter. Stifel Financial Corp now owns 32,485 shares of the company’s stock valued at $1,224,000 after acquiring an additional 428 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Atlantic Union Bankshares in the 4th quarter valued at approximately $6,923,000. Hedge funds and other institutional investors own 78.58% of the company’s stock.

Atlantic Union Bankshares Stock Down 0.4 %

AUB stock opened at $24.65 on Friday. Atlantic Union Bankshares Co. has a fifty-two week low of $22.85 and a fifty-two week high of $44.54. The company’s 50 day moving average price is $31.36 and its 200 day moving average price is $36.36. 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 has a market capitalization of $2.22 billion, a price-to-earnings ratio of 10.76 and a beta of 0.80.

Atlantic Union Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.36 annualized dividend and a dividend yield of 5.52%. Atlantic Union Bankshares’s dividend payout ratio (DPR) is currently 59.39%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AUB. Hovde Group dropped 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. Morgan Stanley initiated coverage on Atlantic Union Bankshares in a research note on Wednesday, April 9th. They set an “equal weight” rating and a $32.00 target price on the stock. Keefe, Bruyette & Woods dropped 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. Finally, Piper Sandler started coverage on shares of Atlantic Union Bankshares in a research report on Monday, January 13th. They set an “overweight” rating and a $51.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $41.33.

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.