Focus Partners Wealth Sells 6,547 Shares of Atlantic Union Bankshares Co. (NASDAQ:AUB)

Focus Partners Wealth reduced its stake in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 24.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,114 shares of the company’s stock after selling 6,547 shares during the quarter. Focus Partners Wealth’s holdings in Atlantic Union Bankshares were worth $762,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. R Squared Ltd acquired a new position in Atlantic Union Bankshares in the 4th quarter valued at about $28,000. Smartleaf Asset Management LLC boosted its holdings in Atlantic Union Bankshares by 186.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,074 shares of the company’s stock valued at $41,000 after purchasing an additional 699 shares during the period. Venturi Wealth Management LLC bought a new stake in shares of Atlantic Union Bankshares during the 4th quarter worth approximately $91,000. Sterling Capital Management LLC lifted its holdings in shares of Atlantic Union Bankshares by 838.1% during the 4th quarter. Sterling Capital Management LLC now owns 2,880 shares of the company’s stock worth $109,000 after acquiring an additional 2,573 shares during the period. Finally, KBC Group NV lifted its holdings in shares of Atlantic Union Bankshares by 55.9% during the 4th quarter. KBC Group NV now owns 4,475 shares of the company’s stock worth $170,000 after acquiring an additional 1,605 shares during the period. 78.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on AUB. Morgan Stanley initiated coverage on shares of Atlantic Union Bankshares in a research note on Wednesday, April 9th. They issued an “equal weight” rating and a $32.00 price objective for the company. Keefe, Bruyette & Woods decreased their price objective on shares of Atlantic Union Bankshares from $40.00 to $33.00 and set a “market perform” rating for the company in a research report on Monday, April 28th. Finally, Hovde Group cut their target price on shares of Atlantic Union Bankshares from $46.00 to $40.00 and set an “outperform” rating on the stock in a research note on Monday, March 17th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $39.40.

Atlantic Union Bankshares Stock Performance

NASDAQ AUB opened at $30.97 on Monday. Atlantic Union Bankshares Co. has a 52-week low of $22.85 and a 52-week high of $44.54. The company has a 50-day simple moving average of $28.60 and a 200 day simple moving average of $35.10. 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 company has a market capitalization of $2.79 billion, a PE ratio of 13.52 and a beta of 0.83.

Atlantic Union Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be paid a $0.34 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $1.36 annualized dividend and a dividend yield of 4.39%. Atlantic Union Bankshares’s payout ratio is 62.10%.

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.