State of Alaska Department of Revenue Sells 1,190 Shares of Atlantic Union Bankshares Co. (NASDAQ:AUB)

State of Alaska Department of Revenue trimmed its position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 2.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 49,741 shares of the company’s stock after selling 1,190 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.06% of Atlantic Union Bankshares worth $1,548,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AUB. Principal Financial Group Inc. boosted its position in shares of Atlantic Union Bankshares by 2.9% during the fourth quarter. Principal Financial Group Inc. now owns 435,380 shares of the company’s stock valued at $16,492,000 after purchasing an additional 12,115 shares in the last quarter. Truist Financial Corp lifted its position in Atlantic Union Bankshares by 2.8% during the 4th quarter. Truist Financial Corp now owns 110,932 shares of the company’s stock valued at $4,202,000 after acquiring an additional 3,063 shares during the period. Bank of New York Mellon Corp lifted its position in Atlantic Union Bankshares by 0.3% during the 4th quarter. Bank of New York Mellon Corp now owns 1,076,953 shares of the company’s stock valued at $40,795,000 after acquiring an additional 2,861 shares during the period. Oppenheimer Asset Management Inc. boosted its stake in Atlantic Union Bankshares by 26.8% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 30,180 shares of the company’s stock worth $1,143,000 after acquiring an additional 6,373 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in Atlantic Union Bankshares in the fourth quarter worth about $392,000. Hedge funds and other institutional investors own 78.58% of the company’s stock.

Atlantic Union Bankshares Stock Up 1.8%

AUB stock opened at $31.21 on Wednesday. The stock has a market capitalization of $4.45 billion, a P/E ratio of 13.63 and a beta of 0.86. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.91 and a quick 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 business has a fifty day moving average price of $29.25 and a 200-day moving average price of $32.97.

Atlantic Union Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 23rd were issued a dividend of $0.34 per share. The ex-dividend date was Friday, May 23rd. This represents a $1.36 annualized dividend and a dividend yield of 4.36%. Atlantic Union Bankshares’s payout ratio is 62.10%.

Wall Street Analyst Weigh In

AUB has been the topic of several recent research reports. Morgan Stanley assumed coverage on Atlantic Union Bankshares in a research note on Wednesday, April 9th. They issued an “equal weight” rating and a $32.00 price target on the stock. Hovde Group cut their target price on 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. Keefe, Bruyette & Woods lowered their price target on 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. 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 note on Wednesday, May 21st. Finally, Raymond James Financial upgraded shares of Atlantic Union Bankshares from an “outperform” rating to a “strong-buy” rating and raised their price objective for the company from $37.00 to $41.00 in a research note on Tuesday, June 10th. Two 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, Atlantic Union Bankshares has an average rating of “Moderate Buy” and an average price target of $39.00.

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.