Bank of New York Mellon Corp Has $36.49 Million Stock Position in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Bank of New York Mellon Corp lifted its holdings in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 8.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,171,836 shares of the company’s stock after purchasing an additional 94,883 shares during the period. Bank of New York Mellon Corp owned 1.30% of Atlantic Union Bankshares worth $36,491,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of AUB. NBC Securities Inc. bought a new position in Atlantic Union Bankshares during the first quarter worth $25,000. Investment Management Corp VA ADV bought a new position in shares of Atlantic Union Bankshares in the 4th quarter worth about $72,000. ORG Wealth Partners LLC acquired a new position in shares of Atlantic Union Bankshares in the 1st quarter valued at about $100,000. Sterling Capital Management LLC lifted its stake in shares of Atlantic Union Bankshares by 838.1% in the 4th quarter. Sterling Capital Management LLC now owns 2,880 shares of the company’s stock valued at $109,000 after purchasing an additional 2,573 shares during the period. Finally, Asset Management One Co. Ltd. bought a new stake in shares of Atlantic Union Bankshares during the 1st quarter valued at about $196,000. Institutional investors own 78.58% of the company’s stock.

Atlantic Union Bankshares Stock Up 0.6%

Atlantic Union Bankshares stock opened at $33.33 on Tuesday. Atlantic Union Bankshares Co. has a twelve month low of $22.85 and a twelve month high of $44.54. The firm has a 50 day moving average price of $30.85 and a 200-day moving average price of $32.30. The company has a market capitalization of $4.75 billion, a P/E ratio of 14.55 and a beta of 0.86. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.13.

Atlantic Union Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 23rd were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 4.08%. The ex-dividend date was Friday, May 23rd. Atlantic Union Bankshares’s dividend payout ratio (DPR) is presently 62.10%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Keefe, Bruyette & Woods dropped their price objective 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. 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 objective on the stock. Hovde Group dropped their price objective on shares of Atlantic Union Bankshares from $46.00 to $40.00 and set an “outperform” rating on the stock in a report on Monday, March 17th. Raymond James Financial upgraded shares of Atlantic Union Bankshares from an “outperform” rating to a “strong-buy” rating and upped their price objective for the company from $37.00 to $41.00 in a report on Tuesday, June 10th. Finally, Jefferies Financial Group set a $37.00 price objective on shares of Atlantic Union Bankshares and gave the company 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 given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $39.00.

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.