Atlantic Union Bankshares Co. (NASDAQ:AUB) Stake Increased by Cerity Partners LLC

Cerity Partners LLC grew its holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 24.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,097 shares of the company’s stock after purchasing an additional 12,564 shares during the period. Cerity Partners LLC owned approximately 0.07% of Atlantic Union Bankshares worth $1,965,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. NBC Securities Inc. purchased a new position in Atlantic Union Bankshares in the first quarter valued at about $25,000. Investment Management Corp VA ADV purchased a new position in Atlantic Union Bankshares in the fourth quarter valued at about $72,000. ORG Wealth Partners LLC purchased a new position in Atlantic Union Bankshares in the first quarter valued at about $100,000. Sterling Capital Management LLC grew its stake in Atlantic Union Bankshares by 838.1% in the fourth 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 in the last quarter. Finally, Asset Management One Co. Ltd. purchased a new position in Atlantic Union Bankshares in the first quarter valued at about $196,000. Hedge funds and other institutional investors own 78.58% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on AUB shares. Jefferies Financial Group set a $37.00 target price on Atlantic Union Bankshares and gave the company a “buy” rating in a research note on Wednesday, May 21st. Morgan Stanley initiated coverage on 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. Raymond James Financial raised Atlantic Union Bankshares from an “outperform” rating to a “strong-buy” rating and boosted their price target for the stock from $37.00 to $41.00 in a research report on Tuesday, June 10th. Finally, Keefe, Bruyette & Woods reduced 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. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $39.00.

Atlantic Union Bankshares Trading Down 0.5%

Shares of NASDAQ:AUB opened at $33.23 on Monday. The company has a market cap of $4.73 billion, a P/E ratio of 14.51 and a beta of 0.86. The stock’s 50-day moving average is $31.24 and its 200-day moving average is $32.13. Atlantic Union Bankshares Co. has a 52-week low of $22.85 and a 52-week high of $44.54. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 23rd were given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 4.09%. The ex-dividend date of this dividend was Friday, May 23rd. Atlantic Union Bankshares’s dividend payout ratio is currently 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.