Bank of America Corp DE Sells 90,046 Shares of Atlantic Union Bankshares Co. (NASDAQ:AUB)

Bank of America Corp DE reduced its position in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 25.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 268,379 shares of the company’s stock after selling 90,046 shares during the quarter. Bank of America Corp DE owned approximately 0.30% of Atlantic Union Bankshares worth $10,166,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. R Squared Ltd bought a new position in shares of Atlantic Union Bankshares in the fourth quarter worth approximately $28,000. Smartleaf Asset Management LLC boosted its position in shares of Atlantic Union Bankshares by 186.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,074 shares of the company’s stock worth $41,000 after purchasing an additional 699 shares during the period. Venturi Wealth Management LLC bought a new position in shares of Atlantic Union Bankshares in the fourth quarter worth approximately $91,000. Sterling Capital Management LLC boosted its position in shares of Atlantic Union Bankshares by 838.1% in the fourth quarter. Sterling Capital Management LLC now owns 2,880 shares of the company’s stock worth $109,000 after purchasing an additional 2,573 shares during the period. Finally, KBC Group NV boosted its position in shares of Atlantic Union Bankshares by 55.9% in the fourth quarter. KBC Group NV now owns 4,475 shares of the company’s stock worth $170,000 after purchasing an additional 1,605 shares during the period. 78.58% of the stock is currently owned by institutional investors.

Atlantic Union Bankshares Price Performance

AUB stock opened at $28.82 on Friday. Atlantic Union Bankshares Co. has a one year low of $22.85 and a one year high of $44.54. The company’s fifty day moving average price is $28.34 and its 200-day moving average price is $34.86. 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 $4.11 billion, a PE ratio of 12.59 and a beta of 0.83.

Atlantic Union Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 4.72%. The ex-dividend date is Friday, May 23rd. Atlantic Union Bankshares’s dividend payout ratio (DPR) is presently 62.10%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Morgan Stanley assumed coverage on shares of Atlantic Union Bankshares in a research report on Wednesday, April 9th. They issued an “equal weight” rating and a $32.00 price target for the company. Jefferies Financial Group set a $37.00 price target on shares of Atlantic Union Bankshares and gave the stock a “buy” rating in a research report on Wednesday. Hovde Group dropped 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. Finally, Keefe, Bruyette & Woods lowered their target price on shares of 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 equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $39.00.

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.