LSV Asset Management Sells 280,977 Shares of Atlantic Union Bankshares Co. (NASDAQ:AUB)

LSV Asset Management trimmed its holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 97.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 7,900 shares of the company’s stock after selling 280,977 shares during the quarter. LSV Asset Management’s holdings in Atlantic Union Bankshares were worth $299,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. grew its stake in Atlantic Union Bankshares by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 10,953,700 shares of the company’s stock valued at $414,926,000 after acquiring an additional 27,604 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Atlantic Union Bankshares by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,065,862 shares of the company’s stock valued at $77,836,000 after purchasing an additional 14,823 shares during the period. Franklin Resources Inc. grew its position in shares of Atlantic Union Bankshares by 2.8% during the 4th quarter. Franklin Resources Inc. now owns 1,667,196 shares of the company’s stock valued at $63,153,000 after purchasing an additional 45,669 shares in the last quarter. GW&K Investment Management LLC increased its holdings in shares of Atlantic Union Bankshares by 24.9% in the fourth quarter. GW&K Investment Management LLC now owns 1,553,719 shares of the company’s stock worth $58,855,000 after purchasing an additional 309,519 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Atlantic Union Bankshares by 0.3% in the fourth quarter. Bank of New York Mellon Corp now owns 1,076,953 shares of the company’s stock worth $40,795,000 after buying an additional 2,861 shares in the last quarter. Institutional investors own 78.58% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Morgan Stanley initiated coverage on Atlantic Union Bankshares in a research report on Wednesday, April 9th. They set an “equal weight” rating and a $32.00 target price for the company. Keefe, Bruyette & Woods dropped their price target on Atlantic Union Bankshares from $46.00 to $44.00 and set a “market perform” rating for the company in a research report on Thursday, January 30th. Hovde Group decreased 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 research report on Monday, March 17th. Finally, Piper Sandler began coverage on shares of Atlantic Union Bankshares in a research report on Monday, January 13th. They set an “overweight” rating and a $51.00 target price for the company. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Atlantic Union Bankshares presently has an average rating of “Moderate Buy” and an average target price of $41.33.

Atlantic Union Bankshares Stock Performance

Shares of NASDAQ AUB opened at $24.77 on Wednesday. The stock’s 50-day moving average is $32.19 and its 200 day moving average is $36.61. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of 10.81 and a beta of 0.80. Atlantic Union Bankshares Co. has a 1-year low of $22.85 and a 1-year high of $44.54. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.13.

Atlantic Union Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 5.49%. The ex-dividend date of this dividend was Friday, February 14th. Atlantic Union Bankshares’s dividend payout ratio (DPR) is presently 59.39%.

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.