Wealth Enhancement Advisory Services LLC Reduces Holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Wealth Enhancement Advisory Services LLC reduced its holdings in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 7.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,516 shares of the company’s stock after selling 1,391 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Atlantic Union Bankshares were worth $701,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its holdings in Atlantic Union Bankshares by 186.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,074 shares of the company’s stock valued at $41,000 after acquiring an additional 699 shares in the last quarter. Investment Management Corp VA ADV purchased a new stake in shares of Atlantic Union Bankshares during the fourth quarter worth about $72,000. Venturi Wealth Management LLC purchased a new stake in shares of Atlantic Union Bankshares during the fourth quarter worth about $91,000. Sterling Capital Management LLC grew its holdings in shares of Atlantic Union Bankshares by 838.1% during the fourth quarter. Sterling Capital Management LLC now owns 2,880 shares of the company’s stock worth $109,000 after buying an additional 2,573 shares in the last quarter. Finally, Brevan Howard Capital Management LP purchased a new stake in shares of Atlantic Union Bankshares during the fourth quarter worth about $204,000. 78.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Hovde Group lowered 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 report on Monday, March 17th. Raymond James upgraded shares of Atlantic Union Bankshares from an “outperform” rating to a “strong-buy” rating and lifted their price target for the stock from $37.00 to $41.00 in a report on Tuesday. Keefe, Bruyette & Woods lowered their price target on shares of Atlantic Union Bankshares from $40.00 to $33.00 and set a “market perform” rating for the company in a report on Monday, April 28th. Morgan Stanley assumed coverage on shares of 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, Jefferies Financial Group set a $37.00 price target on shares of Atlantic Union Bankshares and gave the stock a “buy” rating in a report on Wednesday, May 21st. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

Atlantic Union Bankshares Price Performance

AUB opened at $32.26 on Wednesday. The company’s 50 day simple moving average is $28.08 and its 200 day simple moving average is $33.80. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.91 and a current ratio of 0.91. Atlantic Union Bankshares Co. has a 1 year low of $22.85 and a 1 year high of $44.54. The stock has a market capitalization of $4.60 billion, a PE ratio of 14.09 and a beta of 0.86.

Atlantic Union Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 23rd were given a dividend of $0.34 per share. The ex-dividend date was Friday, May 23rd. This represents a $1.36 dividend on an annualized basis and a yield of 4.22%. Atlantic Union Bankshares’s dividend payout ratio (DPR) is 62.10%.

Atlantic Union Bankshares 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.