Teacher Retirement System of Texas Invests $582,000 in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Teacher Retirement System of Texas bought a new stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) during the first quarter, HoldingsChannel reports. The institutional investor bought 18,677 shares of the company’s stock, valued at approximately $582,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. DAVENPORT & Co LLC increased its position in shares of Atlantic Union Bankshares by 25.6% in the 1st quarter. DAVENPORT & Co LLC now owns 558,451 shares of the company’s stock valued at $17,390,000 after buying an additional 113,760 shares in the last quarter. SG Americas Securities LLC bought a new position in Atlantic Union Bankshares in the first quarter valued at $310,000. Amalgamated Bank increased its stake in Atlantic Union Bankshares by 30.7% in the 1st quarter. Amalgamated Bank now owns 34,400 shares of the company’s stock valued at $1,071,000 after buying an additional 8,073 shares during the last quarter. Norges Bank bought a new stake in Atlantic Union Bankshares during the 4th quarter worth about $6,957,000. Finally, New York State Teachers Retirement System raised its stake in shares of Atlantic Union Bankshares by 38.3% during the 1st quarter. New York State Teachers Retirement System now owns 29,460 shares of the company’s stock worth $917,000 after purchasing an additional 8,160 shares in the last quarter. 78.58% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AUB has been the subject of a number of research analyst reports. Jefferies Financial Group set a $37.00 price target on Atlantic Union Bankshares and gave the stock a “buy” rating in a report on Wednesday, May 21st. Raymond James Financial upgraded Atlantic Union Bankshares from an “outperform” rating to a “strong-buy” rating and upped their target price for the company from $37.00 to $41.00 in a research report on Tuesday, June 10th. 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 price target for the company. Finally, Keefe, Bruyette & Woods reduced their price target on Atlantic Union Bankshares from $40.00 to $33.00 and set a “market perform” rating on the stock in a report on Monday, April 28th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $39.00.

Atlantic Union Bankshares Stock Performance

Shares of Atlantic Union Bankshares stock opened at $31.97 on Wednesday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.13. Atlantic Union Bankshares Co. has a 1-year low of $22.85 and a 1-year high of $44.54. The business has a 50-day moving average price of $31.01 and a two-hundred day moving average price of $32.26. The company has a market cap of $4.56 billion, a P/E ratio of 13.96 and a beta of 0.86.

Atlantic Union Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 23rd were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date was Friday, May 23rd. Atlantic Union Bankshares’s payout ratio is 62.10%.

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.